Elon Musk, who is leading efforts to cut spending he alleges is wasteful, has himself benefited from more than $38 billion in government funding, according to a just-published exposé in the Washington Post. The Washington Post used Good Jobs First’s Subsidy Tracker to help tell the story of just how much companies controlled by Musk have received, according to a release today from the respected Good Jobs First (GJF) organization.*
“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…
“Nearly a tenth of government money that has benefited Musk’s companies comes from agencies in eight states, including California. Since 2007, state and local governments have given Musk companies at least $1.5 billion in tax credits, grants and reimbursements, while various government agencies at multiple levels contributed another $2.1 billion, much of it to drive the development of Tesla and the batteries it relies upon, according to data from the advocacy group Good Jobs First,” the Washington Post said.
The $38 billion Musk’s companies have received are surely an undercount, the Washington Post story said: “The total amount is probably larger: This analysis includes only publicly available contracts, omitting classified defense and intelligence work for the federal government. SpaceX has been developing spy satellites for the National Reconnaissance Office, the Pentagon’s spy satellite division, according to the Reuters news agency. The Wall Street Journal reported that contract was worth $1.8 billion, citing company documents.
The Washington Post found almost a dozen other local grants, reimbursements and tax credits where the specific amount of money is not public.
“An additional 52 ongoing contracts with seven government agencies — including NASA, the Defense Department and the General Services Administration — are on track to potentially pay Musk’s companies an additional $11.8 billion over the next few years, according to The Post’s analysis.”
Amazon’s billionaire founder Jeff Bezos delivered a new directive on Wednesday to the team at Washington Post, which he personally owns. He told its staff that opinion pages going forward will be “in support and defense of two pillars: personal liberties and free markets.”
“Free Markets” means without Govermnet of other interventions at AutoInformed. However, Bezos’ Amazon.com, Inc. has been one of the most aggressive pursuers of government subsidies, having been promised more than $11.6 billion, as documented in GJF’s Amazon Tracker database.
*Good Jobs First is a national policy resource center that promotes corporate and government accountability in economic development. Since 1998, it has fought for reforms to increase transparency around the use of public money used in the name of economic development, and has revealed the numerous ways corporations – many of whom receive subsidies – violate civil and criminal regulations and laws.
All of Good Jobs First’s databases are free to access. However, they’re not free to maintain. Consider a donation to Good Jobs Firstso it can continue the important work of tracking [Watchdogging! – AutoCrat] not what company leaders such as Musk and Bezos SAY, but what they actually DO [as in take billions in government subsidies while touting “free markets” – AutoCrat] and how their companies behave – thoroughly documented in GJF’sViolation Tracker.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Musk and Bezos Freeloading on Taxpayer Subsidies
Elon Musk, who is leading efforts to cut spending he alleges is wasteful, has himself benefited from more than $38 billion in government funding, according to a just-published exposé in the Washington Post. The Washington Post used Good Jobs First’s Subsidy Tracker to help tell the story of just how much companies controlled by Musk have received, according to a release today from the respected Good Jobs First (GJF) organization.*
“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…
“Nearly a tenth of government money that has benefited Musk’s companies comes from agencies in eight states, including California. Since 2007, state and local governments have given Musk companies at least $1.5 billion in tax credits, grants and reimbursements, while various government agencies at multiple levels contributed another $2.1 billion, much of it to drive the development of Tesla and the batteries it relies upon, according to data from the advocacy group Good Jobs First,” the Washington Post said.
The $38 billion Musk’s companies have received are surely an undercount, the Washington Post story said: “The total amount is probably larger: This analysis includes only publicly available contracts, omitting classified defense and intelligence work for the federal government. SpaceX has been developing spy satellites for the National Reconnaissance Office, the Pentagon’s spy satellite division, according to the Reuters news agency. The Wall Street Journal reported that contract was worth $1.8 billion, citing company documents.
The Washington Post found almost a dozen other local grants, reimbursements and tax credits where the specific amount of money is not public.
“An additional 52 ongoing contracts with seven government agencies — including NASA, the Defense Department and the General Services Administration — are on track to potentially pay Musk’s companies an additional $11.8 billion over the next few years, according to The Post’s analysis.”
Amazon’s billionaire founder Jeff Bezos delivered a new directive on Wednesday to the team at Washington Post, which he personally owns. He told its staff that opinion pages going forward will be “in support and defense of two pillars: personal liberties and free markets.”
“Free Markets” means without Govermnet of other interventions at AutoInformed. However, Bezos’ Amazon.com, Inc. has been one of the most aggressive pursuers of government subsidies, having been promised more than $11.6 billion, as documented in GJF’s Amazon Tracker database.
*Good Jobs First is a national policy resource center that promotes corporate and government accountability in economic development. Since 1998, it has fought for reforms to increase transparency around the use of public money used in the name of economic development, and has revealed the numerous ways corporations – many of whom receive subsidies – violate civil and criminal regulations and laws.
All of Good Jobs First’s databases are free to access. However, they’re not free to maintain. Consider a donation to Good Jobs Firstso it can continue the important work of tracking [Watchdogging! – AutoCrat] not what company leaders such as Musk and Bezos SAY, but what they actually DO [as in take billions in government subsidies while touting “free markets” – AutoCrat] and how their companies behave – thoroughly documented in GJF’sViolation Tracker.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.