During his political career, former President Donald Trump has modelled himself as a man of the people and a voice for the under-represented working class.

However he has also aligned himself with the super-wealthy during the 2024 Presidential Election campaign, notably teaming up with Elon Musk at key events. Musk - the owner of X, Tesla and SpaceX - is ranked as the world’s richest person with an estimated net worth of $265.2 billion.

Musk has become a vocal supporter of Trump and is expected to appear alongside the 78-year-old at an Election Night event, the New York Times reports. Trump will host a watch party at his Mar-a-Lago members club and a series of private dinners.

Why does Elon Musk support Donald Trump?

Despite previously supporting Ron DeSantis for Republican nominee, Musk has switched his allegiance to Trump during the course of the election campaign. Musk formally endorsed Trump in July after the failed assassination attempt and has gone on to donate more than $118 million to his campaign.

Recently, Musk funded a program offering a $1 million daily prize to Republican-aligned voters who register to vote in key swing states. The initiative was widely criticised as an attempt to ‘pay for votes’ but a court decision last week ensured that the program could continue up to polling day.

Musk’s support of Trump can also be seen in changes made to social media platform X, which reportedly promotes pro-Trump content over posts that criticise the former President. The world’s richest man stands to gain a lot in return.

NBC News reports that Musk, and the companies that he owns, can expect to benefit financially from regulatory changes, lower tax rates and preferential treatment when applying for government contracts in a Trump second term. There is even suggestion that Musk could receive a formal position with the Trump administration, giving him influence over areas like government spending and regulatory matters