Elon Musk, fresh off his involvement in the 2020 US election, is now focusing his attention on European politics, raising concerns among politicians across the continent. His endorsements of far-right parties, demands for the release of jailed extremists, and harsh criticism of European leaders are fueling anxieties about the potential for destabilization.
Musk's social media platform, X, is becoming a platform for his political views, with abusive rhetoric targeting politicians and amplified far-right and anti-immigrant content. Experts liken this approach to a traditional newspaper mogul, using his considerable influence to promote his political agenda. He's explicitly aligning himself with a broader far-right movement.
European leaders are grappling with how to respond. Chancellor Olaf Scholz of Germany, whose coalition government recently collapsed, has expressed concern over Musk's involvement, stating that German voters, not social media moguls, will determine the country's future. Similarly, French President Emmanuel Macron warned about the destabilizing effects of unchecked power held by tech billionaires.
Musk's interventions are particularly notable in Germany, where he has endorsed the Alternative for Germany (AfD) party, a party under scrutiny for suspected extremist links. He has also publicly clashed with British Prime Minister Keir Starmer, accusing him of inaction in a series of child sexual abuse cases. This has prompted a strong rebuke from Starmer, who has directly condemned Musk's "lies and misinformation," while also pointing out how some Conservative politicians were echoing Musk's positions.
The European Union is investigating Musk's actions, looking into whether his platform is violating regulations regarding hate speech and disinformation. Musk's stance, however, is consistent with his advocacy of free speech, often contrasting his position with regulatory efforts.
Musk's political interventions pose potential risks for Tesla, as his outspoken stances could harm the company's image and sales in Europe. Recent data show declining registrations of Tesla vehicles in key European markets, hinting at a possible negative impact on investor sentiment. Analysts suggest that Musk's approach, while risky, may mirror his successful campaign efforts in the United States.
