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The Populist vs. the Billionaire: Bannon, Musk and the Battle Within MAGA
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By The New York Times
Published 44 minutes ago on
March 10, 2025

Elon Musk on stage during the 2025 Conservative Political Action Conference in National Harbor, Md., Feb. 20, 2025. Musk, who was a critic of Trump for years before becoming one of his biggest benefactors, has seemingly given little thought to the MAGA movement and its future. (Eric Lee/The New York Times)

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WASHINGTON — After word leaked out about a clash at the White House where members of President Donald Trump’s Cabinet challenged the authority of Elon Musk to reshape their departments, one of the president’s top allies, Steve Bannon, quickly piled on.

Bannon, who has characterized Musk as an interloper, a “parasitic illegal immigrant” and a “truly evil person,” suggested the world’s richest man was weighing Trump down.

“I don’t want to say an anchor or lodestone,” Bannon said Friday of Musk on his show “War Room,” which is watched closely by a number of Trump allies, as well as the president himself. “It’s not that yet, but it’s trending — that is starting to affect everybody.”

Longstanding Animus Between Bannon, Musk

The longstanding animus between Bannon and Musk encapsulates a key tension at the heart of Trump’s Make America Great Again movement. It pits those like Bannon, who want Trump to carry out a more fully populist agenda, against ultrawealthy interests, epitomized by Musk, who occupy key positions in the president’s orbit.

Trump has made clear he wants to keep both men and their allies within his movement, but Bannon’s vocal disdain for Musk has been noticed by the president. In mid-February, the president told Bannon that he wanted him to lay off the attacks on Musk and for the two men to sit down privately, according to two people familiar with the comments.

That meeting has not happened yet, and it is not clear when or if it will.

But Trump’s effort to mediate between the two men, which has not been previously reported, reflects the president’s awareness that Bannon has a powerful megaphone with key parts of the MAGA base.

Bannon has been preaching about populism since the Tea Party wave slowly started to remake the Republican Party in 2010. He and his acolytes see Musk as an opportunist with no ideological stake in the MAGA movement who only wants to advance his own interests.

But Bannon’s vision for the movement also has its fair share of critics for its alignment with right-wing nationalism, which he has labeled a “badge of honor.” “Let them call you racists,” Bannon told a far-right gathering in France in 2018. “Let them call you xenophobes. Let them call you nativists.”

Musk Was an Original Critic of Trump

Musk, who was a Trump critic for years before becoming one of his biggest benefactors, has seemingly given little thought to the MAGA movement and its future. Musk has been privately irritated by Bannon’s attacks at times, according to people in touch with him. But he has only rarely engaged with Bannon. “Bannon is a great talker, but not a great doer,” Musk posted on X, his social media platform, last month. “What did he get done this week? Nothing.”

In a statement, Karoline Leavitt, the White House press secretary, said: “We do not comment on private conversations that may or may not have occurred. President Trump is thrilled with DOGE’s historic work under Elon Musk, and he will continue to cut the waste, fraud, and abuse in our federal government on behalf of the American people.”

A spokesperson for Musk did not respond to a request for comment.

Bannon has clear ideological disagreements with Musk, particularly over immigration. Bannon vigorously disagrees with Musk’s support for H-1B visas, which allow high-skilled individuals to work in the United States. Bannon has also warned that billionaires like Musk and other tech executives — many of whom supported Democrats before backing Trump — will abandon the MAGA movement.

“Bannon has been a dyed-in-the-wool conservative for his entire life, and he believes very strongly in these core values,” said Barry Bennett, a Republican strategist who worked on Trump’s first presidential campaign with Bannon. “He is always naturally suspicious of people who pop up and don’t have the pedigree that he has.”

Musk in some ways came out of left field as a die-hard supporter of Trump.

Musk Had Lengthy List of Critiques for Trump’s First Term

Throughout Trump’s first term, Musk had a lengthy list of critiques. He privately disparaged Trump’s tariff policies, his obsession with coal mines instead of gigafactories and his hard-line stances on immigration. More broadly, Musk railed against those who he believed had become tribal in their politics, according to people familiar with his comments.

In 2023, Musk signaled he would support the presidential campaign of Gov. Ron DeSantis of Florida before changing his mind as DeSantis’ campaign struggled out of the gate. Last month, Musk posted on social media that he loves Trump “as much as a straight man can love another man.”

Among the MAGA faithful, both men have deep fan bases. Bannon is one of the movement’s original content creators, dating back to his days overseeing Breitbart News and now through “The War Room.” Musk, meanwhile, has endeared himself to the movement through his transformation of X, formerly known as Twitter, into a hub of conservative activity.

“Musk is the volume button,” Bennett said. “You can say things now on Twitter and you can reach millions and millions of people where 10 years ago you would reach tens of thousands. He has made that available to us. There are a lot of people who are in the right of center movement who are very reliant on the medium to distribute their content. They are very grateful to him for allowing that to happen.”

In an interview with The New York Times last month, Bannon said there were fundamental differences between him and Musk.

“He’s still not a populist nationalist, he’s a globalist,” Bannon said of the tech billionaire. “He and I have a chasm that is probably insurmountable.”

As for Musk, his future intentions regarding politics are unclear. But one thing is not: Having been born in South Africa, he is ineligible to run for president — a fact Trump has noted publicly.

This article originally appeared in The New York Times.

By Tyler Pager and Maggie Haberman/Eric Lee
c. 2025 The New York Times Company

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