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Good morning. In a prolonged telephone interview with Fortune’s Vivienne Walt final week, the world’s richest man (sorry, JB) gushed over the brand new American president. “I’m tremendous fired up that the brand new administration is concentrated on local weather,” he stated.
Musk fan boys can inform you that his political opinions have lengthy leaned to the precise, on many points. He has fought unionization at his factories, and in 2018, donated way more to Republicans than Democrats.
However his turnaround on Biden ought to come as no shock. The Biden crew is considering a wide range of measure to encourage electrical vehicles and assault local weather change—which might solely imply more cash in Musk’s pocket. It acknowledges a brand new actuality within the local weather debate from a decade or two in the past. Companies used to routinely oppose local weather discussions as a result of they feared ensuing taxes and laws. However one individual’s tax is one other’s subsidy. And as we speak, among the largest firms—Tesla included (No. 7 in market cap within the S&P 500)—are on the receiving finish.
Extra information under. And right here’s your reality for the day: For the primary time in 37 years, Budweiser will not be advertising in the Super Bowl. I suppose the Clydesdales are in quarantine.