Elon Musk’s business empire is built on $38 billion in government funding
Category: News & Politics
Via: krishna • 2 weeks ago • 32 commentsBy: By Desmond Butler, Trisha Thadani, Emmanuel Martinez, Aaron Gregg, Luis Melgar, Jonathan O'Connell and Dan Keating
llustration credit: (Illustration by Anna Lefkowitz/The Washington Post; Alex Brandon/AP; iStock)
Important Related Article:
Inflation, looming trade war take a toll as confidence of the U.S. consumer tumbles
S E E D E D C O N T E N T
Elon Musk and his cost-cutting U.S. DOGE Service team have been on a mission to trim government largesse. Yet Musk is one of the greatest beneficiaries of the taxpayers’ coffers.
Over the years, Musk and his businesses have received at least $38 billion in government contracts, loans, subsidies and tax credits, often at critical moments, a Washington Post analysis has found, helping seed the growth that has made him the world’s richest person .
The payments stretch back more than 20 years. Shortly after becoming CEO of a cash-strapped Tesla in 2008, Musk fought hard to secure a low-interest loan from the Energy Department, according to two people directly involved with the process, holding daily briefings with company executives about the paperwork and spending hours with a government loan officer.
When Tesla soon after realized it was missing a crucial Environmental Protection Agency certification it needed to qualify for the loan days before Christmas, Musk went straight to the top, urging then-EPA Administrator Lisa Jackson to intervene, according to one of the people. Both people spoke on the condition of anonymity for fear of retribution.
Nearly two-thirds of the $38 billion in funds have been promised to Musk’s businesses in the past five years.
In 2024 alone, federal and local governments committed at least $6.3 billion to Musk’s companies, the highest total to date.
The total amount is probably larger: This analysis includes only publicly available contracts, omitting classified defense and intelligence work for the federal government. SpaceX has been developing spy satellites for the National Reconnaissance Office, the Pentagon’s spy satellite division, according to the Reuters news agency. The Wall Street Journal reported that contract was worth $1.8 billion, citing company documents.
(Cont'd in original article)
Rules apply.
Tags
Who is online
115 visitors
Over the years, Musk and his businesses have received at least $38 billion in government contracts, loans, subsidies and tax credits, often at critical moments, a Washington Post analysis has found, helping seed the growth that has made him the world’s richest person .
The payments stretch back more than 20 years. . .
Which, in accordance with American culture, makes him worthy of the highest respect and admiration.
Oh, is that why he is volunteering his time to do what elected democrat officials refuse to do?
Shortly after becoming CEO of a cash-strapped Tesla in 2008, Musk fought hard to secure a low-interest loan from the Energy Department, according to two people directly involved with the process, holding daily briefings with company executives about the paperwork and spending hours with a government loan officer.
When Tesla soon after realized it was missing a crucial Environmental Protection Agency certification it needed to qualify for the loan days before Christmas, Musk went straight to the top, urging then-EPA Administrator Lisa Jackson to intervene, according to one of the people. Both people spoke on the condition of anonymity for fear of retribution.
Nearly two-thirds of the $38 billion in funds have been promised to Musk’s businesses in the past five years.
Can you imagine how much those who might have had any role in granting Musk such privileges, who have now lost their jobs because of him, might regret their part in it?
In 2024 alone, federal and local governments committed at least $6.3 billion to Musk’s companies, the highest total to date.
The total amount is probably larger: This analysis includes only publicly available contracts, omitting classified defense and intelligence work for the federal government. SpaceX has been developing spy satellites for the National Reconnaissance Office, the Pentagon’s spy satellite division, according to the Reuters news agency. The Wall Street Journal reported that contract was worth $1.8 billion, citing company documents.
"...the Pentagon’s spy satellite division..."
WHAT? America spies on other nations while blaming other nations for spying on it? What's the word for that?
What-- me worry?
Dear DOGE,
I know how we can save $38 Billion…
Morning...is it just me but everytime I see the acronym DOGE, I keep thinking of the word dodgy...
As in skilled at lying and deceiving, unreliable, suspicious , poor quality, potentially dangerous...
Maybe they can rename it to...DODGY... Dept Of Doffus Government Yobbos...
Now first major decision for the day..what's for breakfast??
Well whatever is eaten for breakfast, the odds are its got Vegemite on it!
... me too. that mob has a history of a lack of foresight and choosing poor names for their latest incarnations, with the predictably hilarious ensuing results, requiring the obligatory spewing of venom laced spittle in a feeble attempt to salvage their oh so very fragile egos and bollocks. it's quite the vicious circle jerk to observe, once the rpm's get up to speed ...
Morning ahhh no..had a change this morning.. toasted muffin with home made apricot jam...
But Vegemite was a close second..🐨
it always looks like number 2 ...
More like pukey peanut butter is the correct colour..if it was Vegemite colour you would be literally in deep do doo...
Allow me to take this moment to offer a hearty “Go fuck yourself” to the people who think it’s cool to cut Medicare and Medicaid, while giving literally billions to billionaires and corporations.
[✘]
there just aren't enough appreciative emojis
38 Billion on a 400 billion empire is a rounding error, but the unsuccessful bitches have to whine about something, difference is unlike your welfare dollars Elon produced value for the money he received.
And still is as even the feds are wanting to convert to electric vehicles. So, why does anyone think that Tesla is the only one getting well? I remember in another administration that solar power was the big thing and the feds saw their way clear to extend grants and loans to many of those who turned it into failure and bankruptcy.
Better check your in box for notifications from Elon
The GSA is taking electric vehicles out of the fleets and parking them in storage. The GSA is trying to cancel all grants from the Infrastructure Act involving EV charging stations and has ordered the removal of all charging stations from federal owned or leased properties regardless of whether they are for the fleet or POVs.
Trump has also signaled the end of support for solar farms and windmills. Shell is divesting itself of it's green energy portfolio.
The "Big Three" are adjusting their 2030 & 2035 plans to now include internal combustion engines again.
Drill Baby drill...
On Wall Street, they talk about "the Trump Trade". Since Trump took office, traders are cutting back on (or totally dumping) Windmill and Solar energy stocks, and buying gas and oil stocks.
Link?
WTF?
WASHINGTON (AP) — President Donald Trump signed an executive order promising to eliminate what he incorrectly labels “the electric vehicle mandate” imposed under former President Joe Biden.
His order on Monday is consistent with pledges Trump made on the campaign trail to end what he calls a “preposterous” focus on EVs by Biden and other Democrats. The order, along with other steps expected in a second Trump administration, could slow U.S. efforts to address climate change, much of which is caused by burning gasoline and diesel fuel that emit carbon dioxide and other planet-warming greenhouse gases.
US federal buildings take down EV chargers - electrive.com
US Agency Reportedly Plans to Shut Down 8,000 EV Chargers, Offload EVs | PCMag
If we weren't talking about actual human lives, it would be funny to watch the way you and people who think like you contort yourselves to pay homage to some asshole just because he's a billionaire.
You probably shouldn't do your own taxes if you think 9.5% is a rounding error.
Did he? Where is my cut? He has grown richer than anyone using the very grants and subsidies he is now calling "waste." "Hypocrisy" is not a strong enough word. I need a thesaurus.
The lives and well being of our fellow Americans have more value than every dollar in profit that Elon has. If you think his money has more value, you need to reexamine your priorities.
you seem to ignore than that $400bilion relies on the other $38 billion. If those government contracts, our tax $s go away, his companies crash. Elon has always been a welfare queen,
The true welfare "queen" is Musk.
The ultimate in waste, fraud and abuse.
I have a feeling we haven't seen it all yet.
Now he is campaigning against a Verizon contract and pushing to replace it with StarLink on X the new official government communication tool.
No conflicts of interests there.../s
Why can't we deport this MF'Elon