Here’s how many billions Elon Musk’s companies are making from U.S. taxpayers
1 month ago

Here’s how many billions Elon Musk’s companies are making from U.S. taxpayers

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Yet according to federal data analyzed by The Independent, Musk's own companies have been promised or awarded nearly $21 billion by the U.S. government since 2008. One contract covers launch services for various NASA satellites, while another covers cargo flights to the agency's planned Lunar Gateway space station, which will be put in orbit around the moon to support future visits. open image in gallery Photo provided by SpaceX: Tesla roadster launched from the Falcon Heavy rocket with a dummy driver named ‘Starman’ Secretive DoD satellite launches The bulk of the rest of SpaceX's contracts are with the Department of Defense, which has promised $5.6 billion and offered a maximum future payout of $32.8 billion. open image in gallery Elon Musk's tweet on Feb 2 about USAID, an agency whose funding he is crushed Tesla brings up the rear Tesla, the electric vehicle company that Musk also runs, has made far less from government contracts and awards.

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History of this topic

Bombshell report reveals staggering amount of government funds paid to Elon Musk
1 month ago

Bombshell report reveals staggering amount of government funds paid to Elon Musk

Raw Story  

Amid Elon Musk’s whirlwind campaign to cut thousands of jobs and billions of dollars in government services in the name of efficiency, a bombshell report Wednesday revealed a staggering amount of taxpayer cash that goes directly to him. A deep dive into government contracts, loans, subsidies and tax credits found the South African billionaire has reaped $38 billion dollars of …

Here’s how many billions Elon Musk’s companies are making from U.S. taxpayers
1 month ago

Here’s how many billions Elon Musk’s companies are making from U.S. taxpayers

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Yet according to federal data analyzed by The Independent, Musk's own companies have been …

Musk slammed as State Department reveals plan to buy $400m in ‘armored’ Teslas in biggest contract of 2025
1 month, 1 week ago

Musk slammed as State Department reveals plan to buy $400m in ‘armored’ Teslas in biggest contract of 2025

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Elon Musk was blasted Wednesday following revelations that the Trump …

Elon Musk denies that State Dept is buying $400M worth of Tesla Cybertrucks
1 month, 2 weeks ago

Elon Musk denies that State Dept is buying $400M worth of Tesla Cybertrucks

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The billionaire jumped on X to deny the allegations, as it was widely reported …

'Sleazy corruption': $400M award reportedly for 'Armored Tesla' outrages Musk critics
Trending News
1 month, 2 weeks ago

'Sleazy corruption': $400M award reportedly for 'Armored Tesla' outrages Musk critics

Raw Story  

The State Department appears likely to award a $400 million contract to tech billionaire Elon Musk's Tesla Motors to deliver an "armored Tesla" to the federal government — a procurement forecast first modified in December, before President Donald Trump was sworn in but after he was elected, according to Drop Site News. Looks like Elon Musk is on-track to win …

Musk awarded millions in new gov contracts even as DOGE torches others: leaked filing
1 month, 2 weeks ago

Musk awarded millions in new gov contracts even as DOGE torches others: leaked filing

Raw Story  

Tesla and SpaceX CEO Elon Musk — by far the wealthiest person on the planet with a net worth in excess of nearly $380 billion — is now benefiting from new government contracts while simultaneously terminating other contracts. The apparent new contract for SpaceX comes on the heels of a recent ABC News report delving into how Musk's multiple businesses …

Musk awarded millions in new gov contracts even as DOGE torches others: leaked filing
1 month, 2 weeks ago

Musk awarded millions in new gov contracts even as DOGE torches others: leaked filing

Raw Story  

Tesla and SpaceX CEO Elon Musk — by far the wealthiest person on the planet with a net worth in excess of nearly $380 billion — is now benefiting from new government contracts while simultaneously terminating other contracts. The apparent new contract for SpaceX comes on the heels of a recent ABC News report delving into how Musk's multiple businesses …

Musk is moaning about ‘tax loopholes’ – but guess how much Tesla paid last year
1 month, 2 weeks ago

Musk is moaning about ‘tax loopholes’ – but guess how much Tesla paid last year

The Independent  

I agree with Elon Musk: the US tax system does need reform. “Qualifying Tesla customers may receive up to $7,500 in federal tax credits for the purchase of qualified electric vehicles in the US through 2032,” it says. Incentives that offer customers $7,500 in federal tax credits are a big help when you’re trying to sell pricey electric cars, especially …

Trump says Musk to uncover billions in ‘fraud and abuse’ at US Pentagon
1 month, 2 weeks ago

Trump says Musk to uncover billions in ‘fraud and abuse’ at US Pentagon

Al Jazeera  

SpaceX and Tesla boss Musk is presiding over a purge of US government jobs that critics call an ‘evisceration of democracy’. US President Donald Trump has said he expects his ally Elon Musk to find billions of dollars of fraud and abuse at the Pentagon, after he was tasked with leading an audit to slash the size of the US …

Trump says Musk to uncover billions in ‘fraud and abuse’ at US Pentagon
1 month, 2 weeks ago

Trump says Musk to uncover billions in ‘fraud and abuse’ at US Pentagon

Al Jazeera  

SpaceX and Tesla boss Musk is presiding over a purge of US government jobs that critics call an ‘evisceration of democracy’. US President Donald Trump has said he expects his ally Elon Musk to find billions of dollars of fraud and abuse at the Pentagon, after he was tasked with leading an audit to slash the size of the US …

Elon Musk’s wealth jumps by $170bn since election day after he backed Trump with $277m
3 months, 1 week ago

Elon Musk’s wealth jumps by $170bn since election day after he backed Trump with $277m

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Elon Musks’s wealth has …

A judge has once again rejected Musk’s multi-billion-dollar Tesla pay package. Now what?
3 months, 3 weeks ago

A judge has once again rejected Musk’s multi-billion-dollar Tesla pay package. Now what?

Associated Press  

DETROIT — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during sham negotiations. In her 103-page opinion, she ruled that under Delaware law, Tesla’s …

Elon Musk loses $56 billion pay package in latest court ruling
3 months, 3 weeks ago

Elon Musk loses $56 billion pay package in latest court ruling

Salon  

A Delaware judge on Monday denied Tesla CEO Elon Musk his $58 billion pay plan, upholding her prior ruling that it was improperly granted. Judge Kathaleen McCormick, who ruled to void Musk’s pay package in January, said they only way the pay package could have been approved was due to Musk’s unilateral “control” over Tesla. Related Why tech billionaires dress …

Elon Musk’s massive, multibillion-dollar Tesla pay package was blocked by a judge again
3 months, 3 weeks ago

Elon Musk’s massive, multibillion-dollar Tesla pay package was blocked by a judge again

CNN  

CNN — Elon Musk’s record-breaking pay package for serving as Tesla’s CEO was rejected by a Delaware court, despite being approved by Tesla shareholders at a June meeting. The pay package, now worth around $101 billion based on Tesla’s closing share price Monday, is made up of 303 million Tesla stock options. At the time, McCormick ruled in favor of …

What to know about Elon Musk’s contracts with the federal government
4 months, 1 week ago

What to know about Elon Musk’s contracts with the federal government

LA Times  

Elon Musk speaks at a Trump campaign rally at Madison Square Garden in New York in October. Tesla Trump’s policies could reduce the sales of electric vehicles, but with Musk’s influence, his administration’s policies could boost Tesla — though not with federal funding. “It would essentially take competition out of the market.” Trump’s Republican administration also is considering imposing tariffs …

Elon Musk's net worth crosses $300 billion following Trump's victory, a first in three years
4 months, 2 weeks ago

Elon Musk's net worth crosses $300 billion following Trump's victory, a first in three years

Hindustan Times  

American billionaire Elon Musk's net worth on Friday surpassed $300 billion for the first time in three years, aided by the surge in the value of his company, Tesla, since the results of the US presidential election, news agency Reuters reported. Tesla CEO and X owner Elon Musk, who supports Republican presidential nominee former U.S. President Donald Trump, gestures as …

Elon Musk’s net worth tops $300 billion in wake of Trump victory
4 months, 2 weeks ago

Elon Musk’s net worth tops $300 billion in wake of Trump victory

Deccan Chronicle  

Elon Musk’s net worth has surpassed $300 billion for the first time in almost three years, as shares of Tesla Inc. soar on bets that his close ties with President-elect Donald Trump will bolster the company.Musk has added more to his personal fortune since Trump’s win than anyone else tracked by the Bloomberg Billionaires Index. Trump also voiced support for …

Elon Musk’s net worth soars by $26 billion to hit $290 billion after Donald Trump’s presidential win
4 months, 2 weeks ago

Elon Musk’s net worth soars by $26 billion to hit $290 billion after Donald Trump’s presidential win

Live Mint  

Tesla CEO Elon Musk’s wealth surged by $26.5 billion, over 12 per cent, to reach $290 billion shortly after Donald Trump secured a landslide victory in the US presidential election. According to the latest data from the Bloomberg Billionaire Index, Musk’s net worth jumped immediately on Wednesday, November 6, after the electoral victory of the Republican candidate. Elon Musk has …

Elon Musk is $29.9 billion poorer, biggest billionaire loser so far in 2024
8 months, 3 weeks ago

Elon Musk is $29.9 billion poorer, biggest billionaire loser so far in 2024

Hindustan Times  

Elon Musk's net worth has fallen more than any other billionaire in the world in the first six months of 2024, as per Forbes’ estimates. The Tesla boss has lost money despite a boom in stock market although the massive salary package cleared by his company's shareholders could raise Elon Musk’s fortunes. From December 31, 2023 to June 28, 2024, …

Elon Musk To Get Back His Big, $44.9 Billion Tesla Pay Package, Shareholders Give Approval
9 months, 1 week ago

Elon Musk To Get Back His Big, $44.9 Billion Tesla Pay Package, Shareholders Give Approval

News 18  

Tesla shareholders voted on Thursday to restore CEO Elon Musk’s record USD 44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the world’s largest electric vehicle maker. Early Friday, Tesla disclosed that shareholders voted for Musk’s pay package by 1,760,780,650 to 528,908,419, with about …

What Elon Musk’s $45 billion Tesla pay package really represents.
55 years, 2 months ago

What Elon Musk’s $45 billion Tesla pay package really represents.

Slate  

Usually, the reason a company pays a CEO in stock is to align that person’s incentives with those of the shareholders. Like most CEO pay deals, the one Elon Musk reached with Tesla in 2018 used the stock price to encourage Musk to work hard: The more Tesla’s market capitalization went up, the more equity in the company would go …

Tesla shareholders strongly support Elon Musk’s $44.9-billion pay package
9 months, 1 week ago

Tesla shareholders strongly support Elon Musk’s $44.9-billion pay package

LA Times  

Tesla shareholders voted to restore Chief Executive Elon Musk’s record $44.9-billion pay package that was thrown out by a Delaware judge earlier this year. Tesla shareholders voted Thursday to restore Chief Executive Elon Musk’s record $44.9-billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the …

Elon Musk wins back his $44.9 billion Tesla pay package in shareholder vote
9 months, 1 week ago

Elon Musk wins back his $44.9 billion Tesla pay package in shareholder vote

NPR  

Elon Musk wins back his $44.9 billion Tesla pay package in shareholder vote toggle caption Ebrahim Noroozi/AP DETROIT — Tesla shareholders voted Thursday to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker. Vote totals …

Tesla Shareholders Approve Elon Musk’s Big Payday
55 years, 2 months ago

Tesla Shareholders Approve Elon Musk’s Big Payday

Wired  

Under CEO Elon Musk, Tesla has been credited with revolutionizing the auto industry, jump-starting the electric revolution, and racking up billions in profit in the process. Now Musk is set for a record payday worth around $50 billion, after the electric car company’s shareholders approved a compensation plan that had been previously blocked by a federal judge. This vote was …

A court rejected Elon Musk's $55.8 billion pay package. What is he worth to Tesla?
1 year, 1 month ago

A court rejected Elon Musk's $55.8 billion pay package. What is he worth to Tesla?

The Hindu  

Even when compared with other CEOs, who routinely get paid roughly 200 times more than their typical employees, Elon Musk’s pay package was eye-opening. A judge in Delaware on Tuesday struck down the package that Tesla established for Musk in 2018, ruling that the process was “flawed” and the price “unfair.” Chancellor Kathaleen St. Jude McCormick called the package “the …

A court rejected Elon Musk’s $55.8B pay package. What is he worth to Tesla?
1 year, 1 month ago

A court rejected Elon Musk’s $55.8B pay package. What is he worth to Tesla?

Associated Press  

Even when compared with other CEOs, who routinely get paid roughly 200 times more than their typical employees, Elon Musk’s pay package was eye-opening. A judge in Delaware on Tuesday struck down the package that Tesla established for Musk in 2018, ruling that the process was “flawed” and the price “unfair.” Chancellor Kathaleen St. Jude McCormick called the package “the …

Tesla $56bn payout that made Elon Musk one of the richest was illegal, not fair to shareholders, rules judge
1 year, 1 month ago

Tesla $56bn payout that made Elon Musk one of the richest was illegal, not fair to shareholders, rules judge

Firstpost  

A judge in Delaware, US has invalidated the $55.8 billion pay package granted to Elon Musk by Tesla in 2018. Judge Kathaleen McCormick ruled that the approval of the pay package by the Tesla board was “deeply flawed.” Elon Musk, Tesla’s CEO and a major shareholder took to his platform X to express his disappointment in the judgement, advising against …

What You Get When You Go Into Business With Elon Musk
55 years, 2 months ago

What You Get When You Go Into Business With Elon Musk

Slate  

Around the time he was buying Twitter last year, Elon Musk borrowed a billion dollars from a different company he owns: SpaceX, which makes rockets. So he might get a lot of things he wants, even if those things don’t seem like they’ll provide much of a benefit to any shareholder of Company B except for, you know, Musk himself. …

$44 billion and eight months later. It’s finally all over for Elon Musk
1 year, 8 months ago

$44 billion and eight months later. It’s finally all over for Elon Musk

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. In just five days, Threads, Meta’s …

Elon Musk’s pay package at Tesla challenged in court
2 years, 4 months ago

Elon Musk’s pay package at Tesla challenged in court

The Hindu  

Testimony began on November 14 in a Delaware courtroom where Tesla shareholders are challenging a compensation plan for CEO Elon Musk potentially worth more than $55 billion. The first witness called to testify was Ira Ehrenpreis, a prominent venture capitalist and longtime friend of Mr. Musk who chaired Tesla’s compensation committee when the grant was formulated. Mr. Musk would receive …

Elon Musk Donated $6 Billion In Shares Last Year, Days After Tweet About Ending World Hunger
3 years, 1 month ago

Elon Musk Donated $6 Billion In Shares Last Year, Days After Tweet About Ending World Hunger

News 18  

Tesla and SpaceX CEO Elon Musk has disclosed that he gave away nearly $6 billion of his fortune to charity last year. This makes Musk the second-biggest donor last year, behind only Bill Gates and Melinda French Gates who gave $15 billion in donations, according to a report in Chronicle of Philanthropy cited by The New York Times. The donation …

Elon Musk gives about $5.7 billion in Tesla stock to charity
3 years, 1 month ago

Elon Musk gives about $5.7 billion in Tesla stock to charity

Associated Press  

DETROIT — Tesla CEO Elon Musk donated about 5 million shares of company stock worth roughly $5.7 billion to an unidentified charity in November, according to a regulatory filing. In late October, Musk, the world’s richest man, tweeted that he would sell $6 billion in Tesla stock and give the money to the United Nations World Food Program if the …

Elon Musk donated $5.7BN worth of Tesla shares to charity
3 years, 1 month ago

Elon Musk donated $5.7BN worth of Tesla shares to charity

Al Jazeera  

The world’s richest man donated more than 5 million shares of the electric-car maker last November, according to a filing with the US Securities and Exchange Commission. Elon Musk gifted almost $6 billion worth of Tesla Inc. stock to charity late last year in one of the largest philanthropic donations in history. The world’s richest man donated more than 5 …

Elon Musk says he’ll pay more than $11 billion in tax this year
3 years, 3 months ago

Elon Musk says he’ll pay more than $11 billion in tax this year

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. “For those wondering, I will pay over $11 …

Tesla board must defend paying Elon Musk pay package
5 years, 6 months ago

Tesla board must defend paying Elon Musk pay package

CNN  

New York CNN Business — A Delaware judge ruled that Tesla’s board of directors must stand trial to defend chief executive Elon Musk’s multibillion dollar pay package. Vice Chancellor Joseph Slights, of the Delaware Court of Chancery, wrote that while Tesla disputed how much the package is worth, “it is reasonably conceivable” that the award is “well in excess of …

Elon Musk says he earned nothing from Tesla in 2018
5 years, 9 months ago

Elon Musk says he earned nothing from Tesla in 2018

Live Mint  

San Francisco: While his electric vehicle company Tesla struggles to make profit, tech mogul Elon Musk denied reports that claimed he had earned $2.3 billion in stock options in 2018. A Tesla fanpage took to Twitter slamming a news report from last week that said Musk made more in 2018 than the next 65 highest-paid CEOs combined, making him the …

Elon Musk’s SpaceX is laying off 10% of its workforce
6 years, 2 months ago

Elon Musk’s SpaceX is laying off 10% of its workforce

Live Mint  

Elon Musk’s rocket company SpaceX will reduce its workforce by about 10% of the company’s more than 6,000 employees, it said on Friday. In June, Elon Musk fired at least seven people in the senior management team leading a SpaceX satellite launch project, Reuters reported in November. Last month, SpaceX launched its first US national security space mission, when a …

Elon Musk says tweet that cost him and Tesla $20 million in fines was 'Worth It'
6 years, 4 months ago

Elon Musk says tweet that cost him and Tesla $20 million in fines was 'Worth It'

Firstpost  

The SEC in September charged Elon Musk with misleading investors with tweets on 7 August. Tesla Inc Chief Executive Elon Musk said the tweet that cost him and the company $20 million in fines each by the US Securities and Exchange Commision was “Worth It”. The SEC in September charged Musk, 47, with misleading investors with tweets on 7 August …

Just 61 characters lift Elon Musk’s wealth by $1.4 billion
6 years, 7 months ago

Just 61 characters lift Elon Musk’s wealth by $1.4 billion

Live Mint  

New York: Elon Musk added $1.4 billion to his fortune on Tuesday with a single tweet. Shares in Tesla Inc. climbed 11 percent to $379.57 at 4 p.m. in New York, taking Musk’s fortune to $25.8 billion after he said he’s considering taking the electric-carmaker private at $420 a share. Even as the world’s 31st-richest person and Tesla’s largest shareholder, …

Elon Musk agrees to receive no pay unless he raises Tesla valuation to $650bn
7 years, 2 months ago

Elon Musk agrees to receive no pay unless he raises Tesla valuation to $650bn

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Elon Musk has agreed a new deal with Tesla which will see him …

Musk trolls shorts as Tesla’s value hits record, passes Ford
7 years, 11 months ago

Musk trolls shorts as Tesla’s value hits record, passes Ford

Live Mint  

Southfield/San Francisco: Tesla Inc.’s Elon Musk poked fun at short sellers as his electric car maker’s stock surged to a record, vaulting its market value past century-old rival Ford Motor Co. “Stormy weather in Shortville.,” the chief executive officer tweeted on Monday, as Tesla shares climbed as much as 5.8%. “I don’t know if people want electric cars, but people …

Elon Musk’s growing empire is fueled by $4.9 billion in government subsidies
9 years, 9 months ago

Elon Musk’s growing empire is fueled by $4.9 billion in government subsidies

LA Times  

During an event at Tesla’s design studio in Hawthorne, Elon Musk introduces a line of batteries for homes and businesses. “That’s a great strategy, but the government will cut you off one day.” The figure compiled by The Times comprises a variety of government incentives, including grants, tax breaks, factory construction, discounted loans and environmental credits that Tesla can sell. …

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