Long considered non-identifiable ideologically, Musk's politics are now hardline right wing as he uses his platform (now called X) to stoke the themes cherished by Fox News, conservative talk radio and far right movements across the West.

In just the latest example, repeating a conspiracy theory of far right chat rooms, Musk last week posted that US President Joe Biden was importing migrants for votes, laying the groundwork for "something far worse than 9/11."

But beyond the posts, the question on everyone's mind is whether the world's second richest person will put his weight, and wealth, behind the bid of former US president Donald Trump to retake the White House.

The rumor mill went into overdrive when The New York Times reported that the two men met, along with other Republican donors, in Florida last week.

Trump is seriously trailing Biden in raising campaign funds, even if he sailed toward the Republican nomination to be US president, and Musk could single handedly make up the shortfall.

Musk turned to X to insist that "to be super clear, I am not donating money to either candidate for US President."

But the funding of US elections is opaque and complicated, and Biden backers worry that Musk could change his mind or fund political committees that themselves finance Trump, or find other ways to help the Republican cause.

'Techno-optimist'

Musk is not alone: other Silicon Valley mavens are also defending conservative causes, making noise in what electorally remains a liberal stronghold; in 2020, Trump's vote share in Silicon Valley was less than 25 percent.

Some tycoons are seeking to build a political movement that, even if not directly supporting Trump, embraces conservative causes, cryptocurrencies, and goes against the California grain.

One of the loudest voices in this shift is Marc Andreessen, the early internet tycoon who founded Netscape and now co-runs Andreessen Horowitz, a venerable venture capital company.

Once a typically left-of-center tech magnate, who had close ties to former vice president Al Gore, Andreessen now fights vehemently against left-wing priorities, especially so-called "woke" considerations about equality or workplace inclusiveness.

Last year, in a 5,200-word "techno-optimist manifesto," Andreessen laid out a techno-utopian vision for the future that listed co-opted government, regulation and worries about discrimination or equality as enemies.