Musk owes much of his wealth to government subsidies and contracts, and many of DOGE’s moves have squashed government oversight into his businesses. As long as Trump keeps giving him unprecedented power, the tech oligarch and fascism enthusiast will continue to keep serving his own interests.

Mr. Musk’s involvement in right-wing politics contributed to a 13% drop in deliveries in the first quarter, including steep declines in E.V.-friendly places like Norway.