Biden Criticized by Donor Over Tesla, Musk’s Trump Donation

Jeff Skoll, a prominent billionaire and former eBay executive who was a major donor to Joe Biden’s 2020 presidential campaign, has publicly condemned the Biden administration’s approach to Tesla. Skoll’s criticism comes in the wake of a report revealing that Elon Musk, CEO of Tesla and one of the wealthiest individuals globally, made a donation to a super political action committee (super PAC) supporting former President Donald Trump.

In a comprehensive social media post on Musk’s platform X, Skoll launched a scathing attack against President Biden, accusing him of intentionally sidelining Tesla during his early presidency. Skoll argued that the administration’s treatment of Tesla is linked to the company’s non-unionized status, characterizing the exclusion as a “slap in the face” to one of the most significant American producers of electric vehicles. He urged Biden to cease what he views as a campaign against prominent entrepreneurs like Musk.

Musk, in response to Skoll’s post, expressed his gratitude with a simple message: “Thanks Jeff 🙏.” This acknowledgment highlights the longstanding relationship between the two, which dates back to their early days in Silicon Valley in the mid-1990s when both were establishing their careers in technology.

Skoll’s public rebuke is particularly significant given his substantial financial support for Biden, having contributed $645,600 to the President’s election campaign in 2020. This criticism adds to a history of strained relations between Biden and Musk, exacerbated by Musk’s recent shift towards conservative politics. This political pivot is seen as surprising, especially considering the historical support that Democrats have extended towards electric vehicle initiatives. For instance, the $7,500 federal tax credit for electric vehicle buyers, which has been a hallmark of Democratic policy, is reportedly under threat of reduction or elimination by Trump.

The specific incident that Skoll referenced involved a White House summit held in August 2021, focused on advancing electric vehicle technology. The summit featured executives from major traditional automakers such as Ford and General Motors but notably excluded Tesla. Musk had previously criticized this exclusion, expressing his surprise and disappointment that Tesla was not invited to the event. This sense of being overlooked continued into December of that year when Musk publicly lamented what he perceived as the administration’s “cold shoulder” towards his company.

Despite Biden’s administration’s goal to increase the share of electric vehicles on the road to 50% by 2030, President Biden has been relatively reserved in his comments about Musk. However, at a press conference in 2022, Biden suggested that Musk’s business dealings with international entities, such as the Saudi Arabian sovereign wealth fund and his interactions with China’s ruling party, merited further examination. This scrutiny reflects broader concerns about Musk’s global business practices and their implications for U.S. interests.

The Biden administration has also scrutinized Musk and his companies through various investigations, including an ongoing probe by the Justice Department into Tesla’s autonomous driving technology. This investigation has drawn significant attention due to the controversial nature of Tesla’s self-driving claims and incidents involving the technology.

In response to Musk’s reported donation to Trump, Biden’s spokesperson, James Singer, criticized both Musk and Trump, calling Trump a “sucker who will sell America out” and labeling Musk among the “arrogant billionaires only out for themselves.” This statement underscores the deepening rift between the administration and the billionaire entrepreneur.

Tesla’s dominance in the electric vehicle market is evident, with the company holding approximately 70% of the U.S. market share for electric vehicles in the first quarter of 2024. Musk, who previously supported Biden in the 2020 election and contributed to Hillary Clinton’s 2016 campaign, has had a complicated relationship with Trump. Trump’s recent statements expressing admiration for Musk, coupled with reports of potential discussions about Musk’s role in a possible Trump administration, have fueled speculation. Analysts suggest that while a Trump presidency could be detrimental to the overall electric vehicle industry due to potential reductions in incentives and support, it could benefit Tesla by imposing tariffs on cheaper Chinese electric vehicles from competitors like BYD and NIO.

Skoll, who initially achieved wealth through eBay, later founded Participant Media with a focus on producing socially impactful films. Participant Media, known for producing influential documentaries such as Al Gore’s “An Inconvenient Truth,” “The Cove,” and critically acclaimed films like George Clooney’s “Good Night, and Good Luck” and the Oscar-winning “Spotlight,” shut down this year due to challenges in achieving profitability.

Currently, Elon Musk is recognized as the wealthiest person in the world, with an estimated net worth of $249.8 billion, a significant portion of which is tied to his holdings in Tesla. Jeff Skoll, with a net worth of $4.5 billion, and Donald Trump, with an estimated $5.3 billion, are both included in the list of the world’s wealthiest individuals.