Mr Musk tweeted on Saturday saying “I support Yang” and added in a later tweet, “He would be our first openly goth president. I think this is very important.” Mr Musk’s comments come after Mr Yang tweeted last week that he does not expect people to agree with him on everything but that he hopes people would trust him. He tweeted: “I don’t expect people to agree with me on everything- that would be odd.
“My main hope is that people trust that I’m trying to solve problems and I’m open to different approaches – particularly if the data drives in a particular direction. Changing one’s mind is not a bad thing.”
Mr Yang is a candidate running in a field consisting of more than two dozen hopeful candidates competing for the Democratic nomination.
One of Mr Yang’s proposals is a universal basic income (UBI).
He wants every US citizen over the age of 18 to receive an income of £1000 each month beginning in January 2021, regardless of the individual’s come or employment status.
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Mr Yang said his policy would be funded by “consolidating some welfare programs” and creating a value-added tax (VAT) of 10 percent.
VAT is a tax on the production of goods or services produced by a business.
Mr Musk is the founder, CEO and CTO of SpaceX and co-founder, CEO and product architect of Tesla.
However, recently the self-made billionaire is facing a business crisis after one of his top companies lost $408million (£327million) over the past three months.
The hit was taken by electric car maker Tesla despite delivering a record number of vehicles.
Tesla surges have fallen by 20 percent since the beginning of the war.
Currently the company has a total debt of over $11.4billion (£9.2billion).
Mr Musk insists the company will make a profit in the final three months of the year.