Powerless' version of Lex Luthor is satirizing Donald Trump, A businessman who became the 45th President of the United States.
In Wayne or Lose A newspaper article is seen with the headline: "President-Elect Luthor Vows to Make Metropolis Super Again". This is a reference to Donald Trump's presidential campaign Slogan "Make America great again".
In Sinking DayRon makes a joke which heavily implies that Lex Luthor lost the popular vote but still won the overall election. This is a reference to the 2016 election when President Donald Trump lost the popular vote but won the electoral college.
In Win, Luthor, Draw Lex Luthor is golfing the mar-a-luthor during an invasion. This is a reference to President Trump's golf trips to the mar-a-lago club.
When Lex Luthor tweets “SPACE WALL WILL BE BUILT, AND ALIENS WILL PAY FOR IT!” in Win, Luthor, Draw it is a reference to President Trump campaign statement “We`re going to build the wall, and Mexico Will Pay for It”.