Elon Musk is among the largest beneficiaries of significant U.S. government financial support, amassing at least $38 billion through contracts, loans, and subsidies, particularly during pivotal moments for his companies, Tesla and SpaceX. This analysis highlights Musk's aggressive pursuit of government loans, including a critical low-interest loan that helped stabilize Tesla in 2008 when it was struggling financially. The majority of funds have been awarded in recent years, particularly with $6.3 billion committed in 2024 alone, reflecting ongoing governmental investment in his ventures. This financial backing has been central to the growth that propelled Musk to become the world’s richest person.
Over the years, Musk and his businesses have received at least $38 billion in government contracts, loans, subsidies and tax credits... helping seed the growth that has made him the world's richest person.
In 2024 alone, federal and local governments committed at least $6.3 billion to Musk's companies, the highest total to date.
When Tesla soon after realized it was missing a crucial Environmental Protection Agency certification it needed to qualify for the loan... Musk went straight to the top, urging then-EPA Administrator Lisa Jackson to intervene.
Nearly two-thirds of the $38 billion in funds have been promised to Musk's businesses in the past five years.
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