Elon Musk Seeks to Exploit Trump’s Favoritism to Monopoly $1.5 Trillion “White Gold” Lithium Deposit Newly Discovered in the United States

Tesla founder and world’s richest man Elon Musk is poised to gain unprecedented advantage following the discovery of what experts believe is the largest lithium deposit ever found in the United States. This vast lithium reserve, colloquially dubbed “white gold” due to its high value and crucial role in battery technology, sits within the McDermitt Caldera, a massive geological formation straddling southeastern Oregon and northern Nevada. Estimated to contain between 20 to 40 million metric tonnes of lithium, this deposit could transform the electric vehicle (EV) industry and further enrich Musk’s sprawling business empire.

According to Forbes, Elon Musk’s net worth currently stands at a staggering $416 billion, making him the richest person on the planet. Yet despite his immense wealth, Musk’s ambitions remain relentless. The recent lithium discovery offers a new frontier for his ventures—especially Tesla, the EV and clean energy company he leads as CEO.

Given lithium’s irreplaceable role in lithium-ion batteries powering everything from smartphones to electric cars, control over such a vast domestic supply promises a strategic edge in the increasingly competitive global market.

The McDermitt Caldera is an enormous volcanic depression measuring roughly 45 by 35 kilometers, formed some 16.4 million years ago after a catastrophic volcanic eruption. Unlike the familiar conical shape of active volcanoes, calderas are sprawling depressions created when a volcano collapses.

Over millions of years, a lake settled inside the caldera basin, allowing minerals, volcanic ash, and sediments to accumulate and transform into lithium-bearing clay minerals. This process ultimately produced what geologists now recognize as possibly the world’s largest lithium reservoir.

Experts estimate the McDermitt Caldera holds between 20 and 40 million metric tonnes of lithium, enough to supply the production of up to 600 million electric vehicles. This vast quantity not only surpasses most known lithium reserves worldwide but also promises to substantially reduce America’s dependence on foreign lithium imports—an issue of critical importance given recent trade tensions and tariffs imposed by the Trump administration.

Lithium is the cornerstone of modern battery technology. Lithium-ion batteries are indispensable in a broad range of applications, from powering mobile devices to enabling the shift toward sustainable transportation via electric vehicles.

Tesla, under Musk’s leadership, has been at the forefront of pushing EV adoption worldwide, touting cleaner alternatives to fossil-fuel powered cars.

With the McDermitt Caldera lithium deposit located on American soil, Tesla stands to benefit in multiple ways. First, domestic access to lithium would allow Tesla to secure its raw materials supply chain more reliably and cheaply, avoiding geopolitical risks and import tariffs that have complicated operations for many other manufacturers.

Second, Tesla already operates an in-house lithium refinery in Texas, positioning the company to vertically integrate lithium processing with battery manufacturing and vehicle production. This integration could drive down costs, increase margins, and enhance Tesla’s competitive position in the EV market.

Elon Musk himself emphasized his commitment to Tesla’s future during a May 20 interview at Bloomberg’s Qatar Economic Forum, stating that while money is not his primary motivation, maintaining “sufficient voting control” over the company is essential to safeguarding its future direction. Given Musk’s 12.8 percent stake in Tesla as of 2024 (according to Investopedia), any major operational advantage such as exclusive or preferential access to the McDermitt lithium deposit would directly augment his wealth and influence.

The potential financial upside from this lithium deposit is staggering. Estimates suggest the US government could generate approximately $1.5 trillion in revenue from mining activities—a figure representing about four percent of the nation’s $36 trillion debt.

This inflow could dramatically reshape economic priorities, especially if mining operations are scaled efficiently.

However, such a massive mining effort raises serious ethical and environmental questions. Extracting up to 40 million metric tonnes of lithium poses potential risks to local ecosystems, including habitats of the sage-grouse—a bird species whose population has suffered drastic declines in recent decades.

Environmental groups, such as the Oregon Chapter of the Sierra Club, support clean energy initiatives but caution against mining practices that could damage fragile habitats and disrupt water sources critical to local communities.

Furthermore, indigenous tribes in the area have expressed strong opposition to mining on the Oregon side of the caldera. Tribal leaders cite sacred ceremonies held on the land and warn that industrial operations would desecrate sites of profound cultural significance.

These concerns add a layer of complexity to development plans, which already face regulatory scrutiny. While Nevada authorities have approved a major lithium mine within their portion of the caldera—expected to become North America’s largest—Oregon officials remain in deliberation, balancing economic prospects against environmental and cultural preservation.

The timing of the lithium discovery and subsequent mining approvals coincides with a period of intensified focus on domestic resource independence during the Trump administration. With tariffs and trade restrictions targeting China and other foreign suppliers, the US government has pushed to secure critical mineral supplies at home.

Elon Musk’s close ties to the administration and his influence within American industry have fueled speculation that he may be leveraging political goodwill to gain preferential access or monopolistic control over this lithium “white gold.”

If Tesla and Musk successfully position themselves as the primary beneficiaries of the McDermitt lithium deposit, it would represent a monumental consolidation of power in the EV supply chain. Control over such a resource would not only guarantee Tesla’s battery production security but also strengthen Musk’s hand in shaping the future of clean energy and transportation.

The discovery of the McDermitt Caldera lithium deposit represents a historic opportunity with profound economic, environmental, and political ramifications. While Elon Musk and Tesla stand to gain enormously from this “white gold,” the path forward is fraught with challenges—including environmental stewardship, indigenous rights, and regulatory hurdles.

As America grapples with the demands of energy transition, resource nationalism, and economic growth, how this vast lithium reserve is managed could shape the future of electric vehicles and sustainable technology for decades. Meanwhile, Musk’s maneuvering to capitalize on this prize underlines the intersection of entrepreneurship, political influence, and natural resource control in the 21st century’s race for clean energy supremacy.