Elon Musk is Trump's 'new star' -- but what does it mean for his companies?

President-elect praises Tesla CEO at victory speech

Republican presidential nominee, former President Donald Trump offers his hand to Elon Musk back stage during a campaign rally at the Butler Farm Show grounds on Oct. 5 in Butler, Pennsylvania. © Getty Images

YIFAN YU, Nikkei staff writer

November 6, 2024 21:00 JST

PALO ALTO, U.S. -- President-elect Donald Trump called Elon Musk a "super genius" and praised his SpaceX and StarLink companies at his victory speech on early Wednesday morning.

"A star is born," the former president, who is set to return to the White House in January, said of Musk. He spent more than three minutes singing the praises of the tech billionaire.