As history has shown, when influential businessmen back controversial leaders, the consequences reach far beyond politics—impacting nations and the global landscape

In the world of investment banking, there’s an adage: “Insult is an investment.” The idea is simple—those who are underestimated and ignored often end up making the most successful moves, purchasing stocks at a lower price before the crowd catches on. In political terms, this strategy mirrors how Donald Trump, after being insulted and sidelined following the 2020 election, has managed to turn his defeat into a powerful comeback.

But Trump’s resurgence isn’t just a matter of political savvy—it’s also about alliances, the kind that transcend national borders and redefine power structures.

One such alliance is his relationship with Vladimir Putin, which, when examined through a historical lens, resembles the complex political alliances of the past. Trump’s approach to Putin could be seen as a Trump card of sorts. A new world order under autocratic rule, with Putin at the helm, is a scenario that increasingly seems possible.

Amid these shifting global tides, there’s one group that Trump has promised to “save”: the Hindus. While India’s Prime Minister Modi may claim to be their protector, Trump’s Diwali pledge to safeguard Hindus worldwide paints a different picture. For some, this might sound like a lofty promise, but for others, it is seen as a vital lifeline in a world where geopolitical alliances matter more than ever.

Meanwhile, India’s relationship with Canada is one of the most sensitive flashpoints in this evolving narrative. Canada, a close ally of the US is already at odds with India over several issues, particularly as Prime Minister Justin Trudeau’s administration has taken stances seen as anti-India.

As Trudeau’s policies potentially fuel Sikh extremism, the instability could escalate, further complicating India’s geopolitical position.

If Sikh militancy gains traction, it may find unexpected allies in the form of Pakistan, as Islamic extremism and Sikh separatism threaten to form a dangerous alliance—a combination that could undermine India’s internal security. This scenario isn’t entirely unlike the world that Henry Ford once supported, albeit in a different era and context. Ford, the founder of the Ford Motor Company, became infamous for his admiration of Adolf Hitler and the Nazis.

Ford’s business interests aligned with the Nazi regime, including lucrative contracts that benefitted Ford’s German subsidiary, Ford-Werke.While Ford’s connection to Hitler was ideological, it was also financial, a pragmatic alliance that offered both political and economic rewards. Fast forward to today, and we see a striking similarity between Ford’s support for Hitler and Musk’s endorsement of Trump.

Elon Musk, a tech magnate with enormous influence, has embraced Trump’s populist message, praising him for his policies on deregulation and free markets. Musk’s relationship with Trump may not be rooted in ideology to the same extent that Ford’s was with Hitler, but the political and business calculations are eerily similar. Like Ford, Musk sees in Trump an opportunity to align his business interests with a powerful political figure. Musk’s recent purchase of Twitter, his vocal support for Trump, and his willingness to use his platform to reshape public discourse are strategic moves, not just personal convictions.

At the heart of this dynamic is a simple truth: both Ford and Musk, at their respective times, recognised the value of political alignment in securing economic and business power. Ford saw his admiration for Hitler as a path to financial gain in a fractured Europe. Musk, meanwhile, sees his support for Trump as a means to ensure policies favourable to his empire, such as deregulation, low taxes, and the prioritisation of business over social welfare.

Just as Ford’s relationship with the Nazi regime was instrumental in expanding his company’s reach in Europe, Musk’s ties to Trump could bolster his business interests in the current global economy.

Musk’s approach to Trump is also a form of personal branding. Both men have cultivated larger-than-life personas, largely through social media, and both understand the power of controversy.

Just as Ford was able to influence public perception through his business prowess and his political affiliations, Musk uses his platform—Twitter, now X—to shape political discourse. Musk’s support for Trump also mirrors Ford’s early 20th-century nationalist rhetoric. While Ford’s nationalism was overtly racial, Musk’s alignment with Trump echoes a modern brand of populism, focused on nationalism, “America First” policies, and anti-establishment rhetoric. However, the ultimate question remains: What happens when business and politics intertwine in such a way that it threatens the very fabric of democratic institutions?

Ford’s support for Hitler contributed to the global rise of fascism, and Trump’s alliances with figures like Putin raised concerns about the future of democracy and global stability. Musk’s role in this political theatre could either be a footnote in history or a major chapter in the ongoing struggle between corporate power and political freedom. The rise of populism, the fracturing of traditional alliances, and the unpredictable actions of powerful business figures like Musk and Trump all point to a future where global stability could be at risk.

The future is uncertain, but one thing is clear: as history has shown when powerful businessmen like Ford or Musk align themselves with controversial political figures, the consequences can be far-reaching and transformative. Whether for good or ill, their influence is undeniable, and their alliances, however pragmatic, will shape the world for years to come.

(The writer is an associate professor; views are personal)