Elon Musk, founder of SpaceX and Tesla and owner of X, can expect 2025 to be an eventful year. Reuters
Elon Musk, founder of SpaceX and Tesla and owner of X, can expect 2025 to be an eventful year. Reuters
Elon Musk, founder of SpaceX and Tesla and owner of X, can expect 2025 to be an eventful year. Reuters
Elon Musk, founder of SpaceX and Tesla and owner of X, can expect 2025 to be an eventful year. Reuters

Elon Musk in 2025: Will space entrepreneur's Trump card pay political dividends?


Sarwat Nasir
  • English
  • Arabic

Elon Musk, the billionaire behind SpaceX, Tesla and social media platform X, is no stranger to the spotlight. In 2024, he dominated headlines with advancements in space exploration, controversial political engagements and sweeping changes to the business formerly known as Twitter.

As 2025 approaches, Mr Musk’s influence continues to be felt across industries, winning admiration and stirring debate in equal measure. SpaceX, his crown jewel, had a groundbreaking year in 2024, largely thanks to Starship, the company’s fully reusable launch vehicle, which is still in development.

His growing sway is also felt in politics as he has the ear of US president-elect Donald Trump, at least for now, as an administration for a second Trump term in the White House is assembled.

Dr Wendy N Whitman Cobb, professor of strategy and security studies at the School of Advanced Air and Space Studies in the US state of Alabama, described the progress as transformative.

“The biggest thing they’ve done this year with Starship is actually get it to a successful launch,” she told The National. “It’s the most powerful rocket ever built, and it underpins a lot of what SpaceX is trying to achieve – making space flight routine and lowering the cost of access to space.”

SpaceX leads the way with Starship's progress

Starship’s success is not only critical to SpaceX’s goals but also to Nasa’s Artemis programme. The rocket will be used in the Artemis 3 mission under a $2.89 billion contract, intended to land astronauts on the Moon this decade.

SpaceX’s dominance in the global launch market is another area where Mr Musk’s influence is undeniable. The company launched more mass into orbit in 2024 than any country, a feat that shows its technical and operational capability. This dominance, however, has raised concerns about stifling competition.

“They’ve essentially put Russia out of the commercial launch business and made it very hard for European launchers like Ariane to compete,” Dr Whitman Cobb said.

“My biggest concern is whether they’ve been so successful that it makes it harder for new players to emerge.”

Radical changes at X (formerly Twitter)

Mr Musk’s achievements in space exploration are often contrasted with his controversial ownership of X. The platform he purchased in 2022 has undergone radical changes since then.

Dr Anabel Quan-Haase, professor and associate dean for the faculty of information and media studies at Western University in Ontario, said there have been ripples from Mr Musk’s style.

“Musk’s management and policy changes at X have given other platforms the impetus to adopt similar approaches to deregulation,” said Dr Quan-Haase, who is also a sociologist that studies social networks and social change.

“Facebook had been under close scrutiny for years from regulatory bodies because of the cyberbullying, harassment and dissemination of misinformation occurring on the site.

“Mark Zuckerberg (co-founder of Facebook and its parent, Meta) had initiated a number of initiatives to counter these concerns, but following the changes at X, Facebook has abandoned these initiatives.”

She said that “Musk has set a precedent” for letting platforms exist in a deregulated ecosystem, where “basically anything goes”.

“This precedent is dangerous and sets the internet back decades to its early history where chat rooms had no norms and rules,” Dr Quan-Haase said.

“Rather than attracting a wide user base in terms of gender, ethnicity and opinion, platforms like X and Truth Social, operate as political echo chambers.”

The changes at X have also had financial consequences. Advertisers have cut spending, wary of associating with inflammatory content.

Meanwhile, some users have sought safer online environment.

“Much of the discourse we see today is characterised as shallow and one-sided, rather than nuanced and well-rounded,” Dr Quan-Haase said.

“Musk’s free-speech advocacy creates an environment where harassment, misogyny and personal attacks are considered acceptable, and rules of civility are reinterpreted as limiting individuals’ rights to freedom of speech.”

Musk's legacy under debate

Meanwhile, space enthusiasts are debating whether Mr Musk’s political activities and management of X are detracting from his legacy as a space pioneer or enhancing it by keeping space exploration in the spotlight.

“I think for a lot of us, space folks, we've sort of batted around the question that if, God forbid, Elon Musk all of a sudden was to go away tomorrow, would SpaceX still be the company that it is?” said Dr Whitman Cobb.

“And I think sometimes we think 'yes', because obviously his attention has been elsewhere, and SpaceX has still been able to succeed.

“But at the same time, SpaceX is so influenced by his goals, attitudes and his perspectives on how to accomplish these things, then I'm not entirely sure that SpaceX would be the same without him. A lot of the success is due to his approach to space flight and how he has run SpaceX.”

Elon Musk will have an opportunity to wield influence as part of President-elect Donald Trump's political inner circle. Photo: AP
Elon Musk will have an opportunity to wield influence as part of President-elect Donald Trump's political inner circle. Photo: AP

With 2025 approaching, Mr Musk is also set for a role at the Department of Government Efficiency, or DOGE, a commission that Mr Trump is planning to launch.

Mr Musk became a leading ally to Mr Trump during his campaign, reportedly spending more than $100 million to help the Republican win and repeatedly boosting Mr Trump's candidacy on X.

The department would “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures and restructure federal agencies”, Mr Trump had said in a statement.

The department “will provide advice and guidance from outside of government,” a move that could allow Mr Musk to avoid disclosing his financial holdings, with critics warning his growing political role could throw up a conflict of interests for the business magnate.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).

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COMPANY PROFILE

Company name: Letstango.com

Started: June 2013

Founder: Alex Tchablakian

Based: Dubai

Industry: e-commerce

Initial investment: Dh10 million

Investors: Self-funded

Total customers: 300,000 unique customers every month

If you go...

Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).

The lowdown

Badla

Rating: 2.5/5

Produced by: Red Chillies, Azure Entertainment 

Director: Sujoy Ghosh

Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EWafeq%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%202019%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENadim%20Alameddine%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%3Cstrong%3E%3Cbr%3EIndustry%3A%20%3C%2Fstrong%3Esoftware%20as%20a%20service%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%20%3C%2Fstrong%3E%243%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ERaed%20Ventures%20and%20Wamda%2C%20among%20others%3C%2Fp%3E%0A
The specs

Engine: 3.8-litre twin-turbo V8

Power: 611bhp

Torque: 620Nm

Transmission: seven-speed automatic

Price: upon application

On sale: now

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

Abu Dhabi GP schedule

Friday: First practice - 1pm; Second practice - 5pm

Saturday: Final practice - 2pm; Qualifying - 5pm

Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

THE SPECS

Cadillac XT6 2020 Premium Luxury

Engine:  3.6L V-6

Transmission: nine-speed automatic

Power: 310hp

Torque: 367Nm

Price: Dh280,000

The specs

Engine: 1.5-litre 4-cyl turbo

Power: 194hp at 5,600rpm

Torque: 275Nm from 2,000-4,000rpm

Transmission: 6-speed auto

Price: from Dh155,000

On sale: now

The specs: 2017 Maserati Quattroporte

Price, base / as tested Dh389,000 / Dh559,000

Engine 3.0L twin-turbo V8

Transmission Eight-speed automatic

Power 530hp @ 6,800rpm

Torque 650Nm @ 2,000 rpm

Fuel economy, combined 10.7L / 100km

Mane points for safe home colouring
  • Natural and grey hair takes colour differently than chemically treated hair
  • Taking hair from a dark to a light colour should involve a slow transition through warmer stages of colour
  • When choosing a colour (especially a lighter tone), allow for a natural lift of warmth
  • Most modern hair colours are technique-based, in that they require a confident hand and taught skills
  • If you decide to be brave and go for it, seek professional advice and use a semi-permanent colour
Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

How Filipinos in the UAE invest

A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.

Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).

Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Borussia Dortmund v Paderborn (11.30pm)

Saturday 

Bayer Leverkusen v SC Freiburg (6.30pm)

Werder Bremen v Schalke (6.30pm)

Union Berlin v Borussia Monchengladbach (6.30pm)

Eintracht Frankfurt v Wolfsburg (6.30pm)

Fortuna Dusseldof v  Bayern Munich (6.30pm)

RB Leipzig v Cologne (9.30pm)

Sunday

Augsburg v Hertha Berlin (6.30pm)

Hoffenheim v Mainz (9pm)

 

 

 

 

 

Company profile

Name: Back to Games and Boardgame Space

Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)

Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)

Based: Dubai and Abu Dhabi 

Industry: Back to Games (retail); Boardgame Space (wholesale and distribution) 

Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space  

Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Updated: December 28, 2024, 4:43 AM