Recession USA 2020
Business

Elon Musk loves Joe Biden

Good morning.  In a lengthy phone interview with Fortune’s Vivienne Walt last week, the world’s richest man (sorry, JB) gushed over the new American president. “I’m super fired up that the new administration is focused on climate,” he said. 

Musk fan boys can tell you that his political views have long leaned to the right, on many issues. He has fought unionization at his factories, and in 2018, donated far more to Republicans than Democrats.

But his turnaround on Biden should come as no surprise. The Biden team is contemplating a variety of measure to encourage electric cars and attack climate change—which can only mean more money in Musk’s pocket. It recognizes a new reality in the climate debate from a decade or two ago. Businesses used to routinely oppose climate discussions because they feared resulting taxes and regulations. But one person’s tax is another’s subsidy. And today, some of the biggest companies—Tesla included (No. 7 in market cap in the S&P 500)—are on the receiving end.

More news below. And here’s your fact for the day: For the first time in 37 years, Budweiser will not be advertising in the Super Bowl. I guess the Clydesdales are in quarantine.

Alan Murray
@alansmurray

alan.murray@fortune.com

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