Activist Investor Nelson Peltz Says He Was 'A Matchmaker' For Elon Musk With Donald Trump

Billionaire activist investor Nelson Peltz claimed he played a crucial role in introducing Elon Musk to Donald Trump. This connection reportedly led to Musk’s significant support for Trump’s presidential campaign.

What Happened: Peltz, the founder and CEO of Trian Partners, disclosed during CNBC's Delivering Alpha Conference that he orchestrated a meeting between Musk and Trump over breakfast in late spring. Musk was visiting Peltz’s home for the weekend when Trump joined them, Fortune reported on Friday.

"Elon was at the house for a weekend, and we had a breakfast and invited Donald for breakfast, and they sort of reunited again," Peltz said during the onstage interview. "I was a matchmaker."

This meeting reportedly resulted in Musk becoming a key supporter of Trump, participating in rallies and contributing financially. Following an assassination attempt on Trump in July, Musk endorsed him and donated around $200 million to his campaign, according to the AP. Peltz expressed satisfaction with the outcome, highlighting Musk’s active role in Pennsylvania during the campaign.

On Tuesday, Trump appointed Musk as co-leader of the new Department of Government Efficiency (DOGE), focusing on reducing federal spending. Although Musk indicated he would not join the administration full-time, the New York Times noted his frequent presence at Mar-a-Lago, engaging in meetings and calls with foreign leaders.

See Also: EXCLUSIVE: Chris Christie Says Trump Will Remove Federal Restrictions On Marijuana, Find ‘Sweet Spot’ For Crypto Regulation (UPDATED)

Why It Matters: The formation of the Department of Government Efficiency (DOGE), co-led by Musk and Vivek Ramaswamy, signifies a push towards streamlining government operations under Trump’s administration. DOGE is actively seeking high-IQ candidates to work long hours to reduce federal inefficiencies.

Furthermore, Musk’s support for Trump has reportedly encouraged other Silicon Valley leaders to embrace conservative positions. PayPal co-founder Peter Thiel described Musk’s support as “incredibly courageous,” suggesting it provided a safe space for others in the tech industry to express similar views.

Peltz’s Trian Fund Management recently made significant portfolio adjustments ahead of the presidential election, including selling stakes in major companies like Walt Disney Co. and GE HealthCare Technologies Inc., indicating a strategic shift in anticipation of market challenges.

Read Next:

• Gene Munster Says Elon Musk’s DOGE Efficiency Plans Should Not Be Underestimated, But Warns ‘It’ll Likely Take Many Years’ To Achieve $2 Trillion In Government Spending Cuts

Image via Shutterstock

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari