Elon Musk’s business empire is built on $38 billion in government funding

[Zincwarrior]

Musk has received $6.3 Billion from government contracts in 2024 alone. Can you imagine someone getting that much money from US taxpayers?

MSN

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.

 

[pknopp]

MSN is late to the party. I've been noting this for a long time. I'm guessing they only care now that he is working for Trump.

Did they complain when he wasn't?

 

[hadit]

Musk has received $6.3 Billion from government contracts in 2024 alone. Can you imagine someone getting that much money from US taxpayers?

MSN

There is investment, then there is waste. Different things.

 

[OhPleaseJustQuit]

Musk has received $6.3 Billion from government contracts in 2024 alone. Can you imagine someone getting that much money from US taxpayers?

MSN

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MSN




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[pknopp]

There is investment, then there is waste. Different things.

The government funding of private enterprise. The very cornerstone of Capitalism I suppose.

 

[1srelluc]

I suspect Space X has easily saved and advanced the USA that much on it's own.

 

[hadit]

The government funding of private enterprise. The very cornerstone of Capitalism I suppose.

Okay, let's agree then that the government should simply get out of the practice of picking winners and losers and leave the investment to the private sector. It would cut down greatly on government expenses and leave a lot more money free for investors to use.

 

[pknopp]

Okay, let's agree then that the government should simply get out of the practice of picking winners and losers and leave the investment to the private sector.

I've long argued that. I get accused of being all kinds of things when I'm one of the few actually arguing for Capitalism.

It would cut down greatly on government expenses and leave a lot more money free for investors to use.

One could hope.

 

[Crepitus]

Musk has received $6.3 Billion from government contracts in 2024 alone. Can you imagine someone getting that much money from US taxpayers?

MSN

And I bet ain't none of that on the chopping block neither.

 

[pknopp]

And I bet ain't none of that on the chopping block neither.

Not only that, he defunded the agencies looking into waste and fraud in the billions gave to him.

 

[Crepitus]

Not only that, he defunded the agencies looking into waste and fraud in the billions gave to him.

Indeed. The foxes are in charge of the hen-house.

 

[rightwinger]

Tesla took a big hit yesterday

 

[pknopp]

Tesla took a big hit yesterday

We will soon see a bail out package for Tesla in some form or another.

 

[rightwinger]

We will soon see a bail out package for Tesla in some form or another.

Tesla is suffering from an ugly truck and consumer outrage over Musk’s political activity.

How many MAGAs buy electric vehicles?

 

[Oddball]

Musk has received $6.3 Billion from government contracts in 2024 alone. Can you imagine someone getting that much money from US taxpayers?

MSN

None of which was a problem for you pearl clutching shitlibs, until Musk changed teams.

Sanctimonious little worms.

 

[CrusaderFrank]

Musk has received $6.3 Billion from government contracts in 2024 alone. Can you imagine someone getting that much money from US taxpayers?

MSN

He rescues stranded astronauts in his spare time

 

[OhPleaseJustQuit]

Tesla took a big hit yesterday

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Show us.




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[Mac-7]

MSN is late to the party. I've been noting this for a long time. I'm guessing they only care now that he is working for Trump.

Did they complain when he wasn't?

Musk used to be the darling of greenies and they showered money on his electric car business

Now he’s the Devil incarnate throughout lib la la land

But to be fair, I was not a fan of his until recently myself since I was never traumatized by the man-made global warming doomsday hoax

 

[pknopp]

Musk used to be the darling of greenies and they showered money on his electric car business

Now he’s the Devil incarnate throughout lib la la land

But to be fair, I was not a fan of his until recently myself since I was never traumatized by the man-made global warming doomsday hoax

Just a fan of huge conflicts of interests.

 

[Mac-7]

Just a fan of huge conflicts of interests.

His products are very popular