Bombshell Report Reveals How Much Money Elon Musk Got From Government
Elon Musk is a greedy welfare billionaire.
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Elon Musk, the world’s richest man, owes much of his wealth to government funding, even as he pledges to slash billions with his Department of Government Efficiency initiative.
A new Washington Post report found that the tech mogul/fascism enthusiast built his fortune from $38 billion in government contracts, loans, subsidies, and tax credits going back more than 20 years. Musk’s companies received at least $6.3 billion in commitments from state and local governments in 2024 alone, and this is likely an undercount.
The total amount of government funding that Musk has received is likely much higher, given that federal funding related to defense and intelligence projects is often classified. For example, Musk’s company SpaceX has a contract to build spy satellites from the National Reconnaissance Office, an intelligence agency tasked with building satellites for national defense. That contract is reportedly worth $1.8 billion, according to The Wall Street Journal.
According to the Post, Musk’s companies have close to a dozen other local grants, tax credits, and reimbursements whose costs are not publicly known. Musk also has 52 ongoing contracts with seven government agencies—including the Department of Defense, the General Services Administration, and NASA—that could pay his companies $11.8 billion in the next few years.
Tesla has been a major beneficiary of federal and state government funding, receiving $11.4 billion in regulatory credits meant to boost electric cars. Tesla sales have been helped by a $7,500 tax credit for buyers of electric vehicles too.
The electric car company may not have even survived without government help: When Musk took over as CEO of Tesla in 2008, he pressed the Department of Energy for a low-interest loan for the company, which was then cash-poor. A $465 million loan would arrive two years later, allowing Tesla to build its first luxury electric sedan and buy a factory in California.
“Tesla would not have survived without the loan,” said one former high-level Tesla employee, who spoke to the Post anonymously. “It was a critical loan at a critical time.”
As Musk rails against government fraud and waste (and gets it wrong), he would do well to remember how much he has benefited from taxpayer funds. Or he might appreciate it all too well, and his DOGE efforts may be focused on getting as much money as possible from the government while gutting pesky regulations and investigations into himself and his companies. He’s either a hypocrite, a fool, or both, living the life of a greedy welfare billionaire.