Photo by Angela Weiss/AFP via Getty Images)

Elon Musk, the world’s richest man, standing behind a podium bearing the Seal of the President of the United States, on Monday twice gave what scholars, journalists and rights groups said was a Hitlergruß, or Nazi salute.

• It doesn’t seem to have done him (or his company Tesla) any visible harm.

Why it matters: Musk shrugged off accusations of Nazi symbolism as “dirty tricks,” laughingly thanking the Anti Defamation League after they said it was merely “an awkward gesture.”

• His reaction only served to further inflame much of the glee with which the sign was received within the far right.

Context: Musk has been making inroads into the far right for some time, endorsing the hard-right AfD in Germany, failing to stop the posting or amplification of pro-Nazi content on his social media site X, and responding to an antisemitic post on X as “the actual truth.”

• Musk apologized, saying “it might be literally the worst and dumbest post I’ve ever done,” and went on an apology tour to Auschwitz.

Follow the money: Financial markets have been bidding up Tesla stock as Musk has cemented his bonds to President Trump.

• On Tuesday, Tesla shares closed largely unchanged from their previous levels, indicating that in the eyes of the market, Musk did no harm to his position.
• The stock is up 65% since Trump’s election, far outpacing peers and the market.

Between the lines: Steve Bannon, a self-appointed avatar of alt-right America, has called Musk “evil” and wants him removed from the White House.

• Musk’s body language (regardless of his intent), insofar as it gains him the support of Bannon’s base, will help neutralize that threat.

The bottom line: Musk seems to have roughly the same degree of control over his right arm as Dr. Strangelove.

• He also seems be just as central to the inner workings of the U.S. government.