Following the biographies of both US President Donald Trump and billionaire Elon Musk, Rainer Zitelmann, a sharp writer for City AM, believes that Mr. Trump only accepts those who completely obey him, while Elon Musk does not bow to anyone.

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Differences that cannot find common ground

– In April, you told L’Express that you never believed the alliance between Elon Musk and Donald Trump would last. Why were you so sure?

I have read all the biographies of these two men and have followed them for years. Mr. Trump only accepts those who are completely subservient to him. Elon Musk does not bow to anyone, especially those he surpasses in intelligence and business ability. I have emphasized this many times, including in my interview in April.

Plus, Trump is not really for economic freedom. He has only two beliefs. One is that he is great and has absolute power. Two is that tariffs are wonderful. Trump once said “tariff” was the most beautiful word in the dictionary.

In contrast, Elon Musk tends to be an economic libertarian. He opposes high taxes, tariffs, and excessive government spending that has ballooned the US federal debt.

– In your opinion, is Elon Musk right to criticize Mr. Trump’s budget bill?

I agree. Not because of the tax cuts, which are right, but because Trump has supported a budget that will exacerbate the US national debt. Trump’s bill continues the debt-fueling policies pursued by Obama, Biden, and Trump himself in his first term.

As a result, the US has to pay more and more interest. Elon Musk must be very disappointed. He put aside his work at his companies for months to help the US government reduce its national debt through the DOGE initiative. But then Mr. Trump turned his back, supporting a law that made the debt mountain even higher. 

– Tesla shares continue to fall after Elon Musk criticized Trump’s tax bill, and Trump threatened to cut funding for SpaceX. As a businessman, will Elon Musk suffer big losses from these political clashes?

I think it is possible, but I can’t say for sure. I admire Musk. He is a man who acts on his deep personal convictions and has taken risks in his career. So far, those risks have paid off.

Whether Elon Musk has the upper hand over Trump is debatable. While Musk has the upper hand in business, Trump has a clear advantage in political communication.

If Musk was really politically desperate for Trump, he could turn to China, which has the edge in the space race. If the European Union weren’t so rigid, they could have invited Musk to bring SpaceX to Europe with great incentives.

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– If the US loses SpaceX, what will be the consequences?

Currently, without SpaceX, the US aerospace industry would have a huge gap. Before SpaceX appeared, they could not even send astronauts to the International Space Station, having to rely on old Russian rockets at very high costs.

By 2024, SpaceX will have carried out 134 of the world’s 261 space missions. As a nation, SpaceX will have far surpassed the second-placed China, which has 68 missions. SpaceX alone is responsible for 86% of US launches and more than 80% of the world’s cargo to orbit or beyond. In comparison, the whole of Europe has only 3 launches.

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– Are you concerned about the US economy?

I am very worried. Mr. Trump promised the American people that protectionism would usher in a new “golden age.” That is completely absurd. No country has become rich through protectionism, but many have become poor because of it.

A hundred years ago, Argentina was as rich as the United States. But decades later, Peronists plunged the country into poverty with economic protectionism.

My only hope now is the capital markets – the stock and bond markets. If there is any force strong enough to force Mr. Trump to change course, it is the financial markets. I hope the markets are stronger than Mr. Trump.