Trump-Democracy-Business Triangle

The results of the U.S. presidential election sent shockwaves across the globe, and its reverberations continue to be felt. This event is no longer seen as merely a domestic issue but is regarded as one of the key developments shaping the course of world history. Historians often refer to a popular notion: the history of the United States was an "American history" up until the 20th century; after that, it became "world history."

Donald Trump’s victory in the election is no longer a fairy tale—it’s a fact. In my view, this win is not a testament to Trump's success or the democratic development of the American people but rather a potential tragedy. It offers a clear glimpse into the mindset of the American voter. The defeat of the Democrats by populism does not reflect the strength of the Republican candidate but rather underscores the extent of the Democrats' weakened ideological and propaganda capabilities. Trump was not elected through fraudulent means; he was chosen by American citizens. Therefore, the issue lies not in the election mechanism but in the consciousness of the electorate—their maturity and values.

In securing this victory, the Republicans undoubtedly utilized two key weapons: financial power and media influence. In this respect, the recent campaign stands as the most expensive election in U.S. political history. The election attracted over $15 billion in funding. The Democratic Party spent $2.6 billion, while the Republicans spent $1.5 billion. Interestingly, despite the Democrats outspending the Republicans, it was the Republican candidate Donald Trump who emerged victorious.

The most significant financial and media backing for Trump came from Elon Musk. By rebranding Twitter to "X," Musk bolstered Trump’s campaign with new media resources, contributing a total of $145 million.

Elon Musk: Election Sponsor and Media Backer

As the head of a technology company, Elon Musk provided his full financial and media support for Trump. To understand the political motives behind this backing, one must delve into Musk’s life journey. Despite growing up in South Africa, Musk’s early attempt to move to the U.S. at the age of 17 was unsuccessful. Eventually, at 21, he enrolled at the University of Pennsylvania, opening his path to the U.S. He started making significant money at a young age, first with the "Zip2" company, then with "X.com," and later moved into space travel with "SpaceX." Even in 2001, when Musk visited Russia to establish connections with ballistic missile dealers, he was met with a cold reception and told mockingly that he didn’t know what he was talking about.

While Musk was focused on rockets, his engineers worked on advancing "Tesla Motors." In fact, Musk did not found Tesla; it was established in 2003 by Martin Eberhard and Marc Tarpenning. In short, Musk built a vast business empire in the field of digital technology. Today, he is listed at the top of Forbes, recognized as the world’s richest person, with a net worth estimated at $264 billion.

For comparison, Trump himself is a wealthy individual, with a net worth of $3.2 billion. The significant difference in wealth between these two figures raises the question: What brings them together?

In reality, Musk is also a cryptocurrency speculator. The day after the election, the significant rise in cryptocurrency prices on global exchanges increased the sensitivity and risks in the world economy impulsively. Shares of Musk's "Tesla" company rose by 25%. The rapid turmoil in the global market suggests that many factors influence the dance of aggregate demand and supply in the stock exchanges, with political factors being among the most significant.

The fact that a single individual's wealth increased by a quarter shows the extent of his enrichment. This implies that, logically, the election also served as a business opportunity for the world’s richest person.

Politics should ideally be separate from business. If Trump remains in power next year, it preemptively suggests how much wealthier Musk could become. It even allows for predictions that the market capitalization of a company specializing in artificial intelligence could grow to be many times larger than the reserves and GDP of major states. His wealth could reach $1 trillion or even higher, effectively making Musk akin to the leader of countries like Turkey, Russia, or South Korea.

The Rise of Populism, the Scale of the U.S. Economy, and the Damage to Democracy

Trump Will Lead a Country Like the U.S., Which Is Not Only Known for Its Democratic Traditions and Values but Also Possesses a Vast Economic System. The U.S. accounts for one out of every four dollars of goods and services produced globally. Last year (2023), global GDP reached $105.4 trillion, with the U.S. economy contributing 26%, or $27 trillion, of that total. It may be an irony of history that such an influential country in the global economy is now led by a person of average capabilities. Figuratively speaking, this is like placing a heavy burden on the shoulders of a weak politician.

Trump is a tragic politician. He does not meet any of the standard criteria for a politician. In this regard, it may be impossible to find another politician in the world who has done as much damage to democracy and the global democratic movement as Trump. In my opinion, the blows he is likely to deal to the U.S. government and democracy in the near future will be immeasurable.

From Trump’s speeches, there is not a single idea that can be interpreted as aimed at the development of democracy. Hate rhetoric is a foreign concept in U.S. politics, yet Trump has brought this rhetoric into the political and electoral systems of the country. Is Trump unacceptable solely because of his political irresponsibility? No! He faces specific criminal charges under 34 articles from the Court of Appeals. An impeachment decision could be applied to him at any moment.

Trump’s speeches also contained economic and business-related theses. Before the election, he promised to lower corporate taxes and ensure low oil prices, successfully rallying the private sector behind him. Low oil prices are particularly attractive to business entities in alternative energy sectors (artificial intelligence, green business, IT investors, etc.). For this reason, the main players in the digital economy worldwide rallied around the Republican Trump. Elon Musk, the biggest advocate of renewable energy and a key actor in this market, stated that there is no need to worry about most of those working in artificial intelligence and that his significant investments in large AI companies are merely to keep a pulse on the developments in this field.

In the history of U.S. elections, private business has never shown as much interest in determining the country’s next president as it did this time. This is why corporations actively participated in the political game. Ultimately, multinational oil corporations were defeated by digital technology companies.

Elon Musk's Political Views and the Idea of Direct Democracy on Mars

Elon Musk is known for contemplating the formation of a new world. Hoping to die on Mars, Musk can be compared to figures like Galileo, Edison, and Einstein for the grand scale of his vision.

Musk even has views on the type of governance that might be chosen on Mars. He has stated that he prefers a direct democracy rather than a representative one for the future government on Mars, meaning that people would have the opportunity to vote directly on issues. According to him, direct democracy significantly reduces the potential for corruption compared to representative democracy.

This interesting and logical approach raises questions about Musk’s perspective on modern U.S. politics. Reflecting on his past statements, he describes himself as a "half-Democrat, half-Republican" ("Lessons in Life, Business, Success, and Entrepreneurship," 2017), and says that his stance is "in the middle—socially liberal and fiscally conservative."

The Global Democracy Crisis and the Political Responsibility of the U.S.

The United States is home to many billionaires who are wealthier and far more intelligent than Trump. From Warren Buffett to Bill Gates, there are highly experienced, smart, and knowledgeable businesspeople. Trump’s rise to the peak of the political Olympus is directly tied to his active role and persistence in the political process, not because of any other special qualities.

Representatives of the wealthiest business elite in the U.S., such as Warren Buffett, Jeff Bezos, Mark Zuckerberg, Bill Gates, and Larry Page, have not become presidents nor entered politics. Among them, Donald Trump stands out as the only person who brought the negative mindset into American politics: "If you’re rich, you’re everything, and everything is permissible for you." This is a factor that actually distances the progressive democratic world from U.S. democracy.

We are witnessing a trend where the weaknesses of democratic leaders are being filled by populist politicians. This process has been ongoing since 2010, as global democratization has been on a downward trajectory for nearly the past 15 years. Democratic indices are declining on a global scale, and the number of states transitioning to democracy has decreased compared to previous years.

The rise of populist politicians over democratic leaders creates an opportunity to manipulate voters, bringing populism to the forefront. Daron Acemoglu, the 2024 Nobel laureate in economics, has precisely interpreted the difference between these two classifications: “The prominence of unpopular, totalitarian-leaning politicians highlights two key factors. First, populist leaders fill the democratic void. Second, corporations step in to fill this void, leading to concerns that companies are becoming more important than governments.” He further expresses his concerns about Trump’s presidency, saying: “The effects of Trump’s presidency will not be limited to the U.S. Uncertainty will increase worldwide. The negative impacts of Trump’s poor leadership will be felt more globally than within the U.S.”