Elon Musk's Billion-Dollar Government Bet: Will SpaceX Rule the Skies? Credit | Getty Images
United States: Elon Musk has also hereby created a vast business empire, which is front in leading some of the most innovative companies in the world.
His companies include Tesla, which produces electric vehicles; X, a popular social media platform; AI, an artificial intelligence start-up.
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Neuralink, which is ofcourse here working on brain-computer interfaces; Boring Company, which focuses on building tunnels for transportation; and SpaceX which is a private aerospace company that is making strides in space exploration and rocket technology.
As reported by the CNBC.com, among these ventures, SpaceX has been like particularly successful, receiving over USD 19 billion in contracts from the U.S. federal government to help fund its space missions and technology development. These contracts have allowed SpaceX to grow rapidly and take on more ambitious projects.
Experts predict that SpaceX could continue to receive billions of dollars in government contracts in the coming years, especially if the company secures more high-profile deals under a potential second term of President Trump. This strong government backing gives SpaceX a stable foundation, helping it maintain its position as a leader in the space industry.
Musk who often complains to the government over excessive regulation may also seek less regulation of his businesses. Earlier in this month Musk and former Republican Presidential candidate Vivek Ramaswamy were appointed by Trump to head a government efficiency group, the Department of Government Efficiency or DOGE.
In a recent commentary piece in the Wall Street Journal, Musk and Ramaswamy wrote that DOGE will “pursue three major kinds of reform: A more typically Washington term might be regulatory rescissions, administrative reductions, and cost savings.
They continued to say that many current federal regulations have in fact never been approved by Congress and thus should be repealed of which President-elect Trump could do through executive order.
Musk and Ramaswamy also supported the mass auditing of agencies and criticized the Pentagon for the inability to pass the audit for the seventh time. “The first way that Elon Musk and his companies benefit from the Trump administration is in deregulation and defanging – you know, fewer resources for federal agencies that oversee him and his businesses,” says CNBC technology reporter Lora Kolodny about Musk’s deal with the current White Hou
