Business has been intertwined with American politics since before the founding of the country. Despite the large role that business leaders play in financing political campaigns and initiatives, few individuals in American history have taken such a personal and public role in politics as billionaire Elon Musk.
Even before the 2024 election, the South African-born billionaire frequently interacted with the US government through his companies. His electric car firm Tesla has received subsidies for green energy, while his company Space X has multiple contracts with NASA and the US military to provide space launch services, vehicle development and flight operations.
Through SpaceX, Musk also played a key role in supporting the United States in defending Ukraine against Russian aggression. He provided Starlink satellite internet terminals to Ukrainian forces. Musk's involvement in the war has been a cause for concern after reports emerged that he was directly making decisions about the use of the terminals and was in direct contact with Russian President Vladimir Putin and other senior Russian officials.
Billionaire Musk managed to secure an even more visible role in the media after the 2022 purchase of the social media platform 'Twitter', which had become a platform where journalists, companies and government officials made public announcements and engaged in discussions alongside regular users.
Rebranding the platform from Twitter to X, Musk overhauled its content verification and moderation policies to combat what he described as leftist bias. As part of that, he reinstated President Donald Trump's account and many accounts that had been banned for hate speech. As the presidential election approached, Musk used the platform to support Trump's policies, later campaigning alongside him and being present at his calls with foreign leaders.
Mr. Musk's involvement culminated in his appointment as head of a new commission on government efficiency, named after an online publication and cryptocurrency that Mr. Musk had previously touted.
While Mr. Musk's involvement in United States politics may be unusual now, it recalls earlier eras when big business leaders wielded great influence over developments in the country.
J.P. Morgan (1837-1913)
After an early career in the stock market on Wall Street, John Pierpont Morgan gained fame by reorganizing the booming railroad industry during the Civil War. By organizing conferences among railroad companies and consolidating those in which he was a shareholder, he helped create an integrated railroad system, a practice he later repeated with the nation's steel industry.
When the economic crisis of 1893 left the United States almost without gold reserves, Mr. Morgan's company stepped in to help the government, supplying it with gold in exchange for Treasury bonds.
Then, in 1907, when another financial crisis threatened to collapse the nation's banks, Mr. Morgan was again credited with saving the country by bringing together bank leaders and forcing them to agree on a common stabilization plan.
He is remembered as a serious businessman who prioritized stability over speculation and supported hospitals, museums, and universities through his philanthropic work. However, his actions in the railroad and steel industries created monopolies that inspired the country's earliest antitrust laws.
Furthermore, the fact that the US government twice had to rely on a private businessman to bail out its finances became a major cause for concern, leading to the creation of the Federal Reserve (Central Bank).
Henry Ford (1863-1947)
Henry Ford is best known for producing the first mass-produced automobile, making what was previously a luxury product affordable for the average consumer. He is also known for popularizing assembly lines, establishing a regular 40-hour workweek, and high wage standards, reasoning that well-paid and happy workers would be more productive and able to afford the cars he produced.
Henry Ford believed that industry and consumption would not only develop the economy but also promote world peace, actively campaigning against war as a waste of productivity. After failing to prevent the United States from entering World War I, Mr. Ford devotedly aided the war effort and moderated his activism. He ran for the Senate in 1918, a race he narrowly lost.
However, not all aspects of Mr. Ford's reputation have remained positive. The tycoon's generous approach to his employees developed alongside his staunch opposition to efforts to form unions and hold labor strikes, which were violently suppressed.
His anti-war stance also had a darker side. Mr. Ford was particularly anti-Semitic and believed that Jews were responsible for World War I, as well as for many ills in American society. After purchasing the Dearborn Independent newspaper in 1918, Mr. Ford used it to publish numerous anti-Semitic conspiracy theories. He stopped only after threats of boycotts against his companies.
As part of the Commission to Put America First, Mr. Ford campaigned against United States involvement in World War II and continued to do business with Nazi Germany until Washington declared war in 1941.
William Randolph Hearst (1863-1951)
Owner of the San Francisco Examiner (SFE) and the New York Morning Journal (NYMJ), William Randolph Hearst built a media empire. He pioneered a form of sensationalist reporting that became known as "yellow journalism." The NYMJ's exaggerated reports of Spanish colonial violence in Cuba inflamed American opinion and increased calls for intervention. When Congress finally declared war on Spain in 1898, Mr. Hearst personally traveled to Cuba to report on the conflict.
Mr. Hearst's media operations would later expand to dozens of newspapers in numerous cities, as well as magazines and book publishers.
After deciding to enter politics, Mr. Hearst served briefly in the House of Representatives as a legislator from New York's 11th district. He later narrowly lost elections for mayor and governor of New York. His newspapers had published editorials that harshly denounced President William McKinley, and he was blamed for instigating the assassination of President McKinley in 1901.
Originally a populist with progressive views, Hearst shifted to a right-wing politician in the wake of World War I and the Russian Revolution of 1917. While denouncing President Franklin Delano Roosevelt's policies as anti-American, Hearst expressed admiration for Hitler and published articles by the German leader. However, Hearst supported the U.S. entry into World War II after the attack on Pearl Harbor, advocating anti-Asian views and the internment of Japanese Americans.
Today, Mr. Hearst is remembered as the real inspiration for the film 'Citizen Kane,' which was made while he was alive and which he tried to stop.
cONcluSiON
The tycoons who shaped American politics in past eras inspired both admiration and controversy, their influence only becoming clear later, as the years passed. It remains to be seen whether Mr. Musk's influence will outlast President Trump's administration and whether other modern-day tycoons will follow his example./ Voice of America (A2 Televizion)
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