• Latest
  • Trending
  • All
  • Market Updates
  • Cryptocurrency
  • Blockchain
  • Investing
  • Commodities
  • Personal Finance
  • Technology
  • Business
  • Real Estate
  • Finance
Elon Musk’s Fight With Trump Threatens $48 Billion in Government Contracts

Elon Musk’s Fight With Trump Threatens $48 Billion in Government Contracts

June 7, 2025
Soft Manager – Trading Ideas – 5 August 2025

#EURUSD: Bearish Move After News – Analytics & Forecasts – 11 March 2026

March 11, 2026
Low inflation complicates rate path – ING

Disinflation supports dovish MNB without hurting forint – Commerzbank

March 11, 2026
Price predictions 3/11: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR

Price predictions 3/11: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR

March 11, 2026
Stocks making the biggest moves premarket: ORCL, AVAV, NKE

Stocks making the biggest moves premarket: ORCL, AVAV, NKE

March 11, 2026
In a vote of confidence for Meta’s Threads, Kalshi adds sharing feature

In a vote of confidence for Meta’s Threads, Kalshi adds sharing feature

March 11, 2026
investingLive European markets wrap: A more tentative mood awaiting IEA announcement

investingLive European markets wrap: A more tentative mood awaiting IEA announcement

March 11, 2026
Bitcoin Options Traders Are Positioning for a Break Above $80,000

Bitcoin Options Traders Are Positioning for a Break Above $80,000

March 11, 2026
G7 energy ministers reaffirm support of using oil reserves

G7 energy ministers reaffirm support of using oil reserves

March 11, 2026
Yearn Finance (YFI) Down 13% Following Andre Conje’s Exit

Yearn Finance (YFI) Down 13% Following Andre Conje’s Exit

March 11, 2026
IEA preparing record release of oil reserves

IEA preparing record release of oil reserves

March 11, 2026
Trump Administration Won’t Rule Out Further Action Against Anthropic

Trump Administration Won’t Rule Out Further Action Against Anthropic

March 11, 2026
When KaOS Linux dropped KDE Plasma, I worried – now I’m loving the new default desktop

When KaOS Linux dropped KDE Plasma, I worried – now I’m loving the new default desktop

March 11, 2026
Wednesday, March 11, 2026
No Result
View All Result
InvestorNewsToday.com
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech
InvestorNewsToday.com
No Result
View All Result
Home Technology

Elon Musk’s Fight With Trump Threatens $48 Billion in Government Contracts

by Investor News Today
June 7, 2025
in Technology
0
Elon Musk’s Fight With Trump Threatens $48 Billion in Government Contracts
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


The info present the US can also be on the hook for about $14 billion for SpaceX’s Starlink web service at quite a few places of work, resembling a Division of Inside facility in Nevada.

The info could possibly be outdated or embody errors, however lots of the listed figures line up with press releases from companies such because the US Area Power. Among the funding is topic to congressional approval, and a portion might find yourself going to SpaceX’s rivals.

However SpaceX’s opponents have confronted quite a few technical setbacks, and Musk’s firm stays the dominant market chief. The billionaire stated this week that SpaceX would earn about $15.5 billion in income this yr, almost double estimates from two years in the past. SpaceX has accounted for 134 of the 166 orbital launches within the US to date this yr, in accordance with monitoring by Jonathan McDowell, an astrophysicist on the Harvard-Smithsonian Heart for Astrophysics.

WIRED did not overview detailed contracts or seek for offers the federal government could have struck with Musk’s firms by way of intermediaries. As an illustration, some authorities companies could also be shopping for advertisements on Musk’s X social media platform by way of promoting companies.

The federal government’s car fleet consists of Tesla electrical autos, in accordance with paperwork on-line, and the Common Providers Administration not too long ago paid the corporate for upkeep.

However the GSA’s annual Federal Fleet Report doesn’t break down the variety of autos by producer or provide particulars on future spending. The report lists 7,706 battery-electric autos within the authorities fleet. Earlier this yr, the Trump administration paused orders for brand new zero-emission autos, dealing a blow to firms resembling Tesla.

DOGE Pinching

Musk’s firms have benefited from authorities assist for years. In February, an evaluation by The Washington Publish discovered Musk companies had obtained at the least $38 billion since 2003 in authorities contracts, loans, subsidies and tax credit throughout the US, together with on the state and native ranges. A New York Instances evaluation from October recognized at the least $15.4 billion in federal authorities contracts over the previous decade for Tesla and SpaceX.

However Musk himself has tried to take a series noticed to federal spending by way of his work main the Trump administration’s Division of Authorities Effectivity, which claims to have saved $180 billion since January, together with by canceling contracts, although that determine stays extremely disputed.

A few of DOGE’s efforts had been briefly blocked by the federal courts and in addition drew protests from federal labor unions, public activists, Congress, states, and even Trump’s personal aides and cupboard secretaries. Final month, Musk stated he was stepping away from DOGE work to give attention to his firms.

Trump’s cost-cutting initiatives haven’t stopped, although. Hiring freezes stay in impact, and the significance of stretching every greenback additional is being emphasised greater than ever at many federal companies, in accordance with representatives at two firms with main authorities contracts. They declined to be named out of concern of retribution from Trump.



Source link

Tags: billioncontractsElonfightGovernmentMusksthreatensTrump
Share196Tweet123
Previous Post

Japanese queue for hours as rice shortage deepens

Next Post

Twitch Streamers Compete To Win Bitcoin

Investor News Today

Investor News Today

Next Post
Twitch Streamers Compete To Win Bitcoin

Twitch Streamers Compete To Win Bitcoin

  • Trending
  • Comments
  • Latest
Want a Fortell Hearing Aid? Well, Who Do You Know?

Want a Fortell Hearing Aid? Well, Who Do You Know?

December 3, 2025
Private equity groups prepare to offload Ensemble Health for up to $12bn

Private equity groups prepare to offload Ensemble Health for up to $12bn

May 16, 2025
Lars Windhorst’s Tennor Holding declared bankrupt

Lars Windhorst’s Tennor Holding declared bankrupt

June 18, 2025
The human harbor: Navigating identity and meaning in the AI age

The human harbor: Navigating identity and meaning in the AI age

July 14, 2025
Why America’s economy is soaring ahead of its rivals

Why America’s economy is soaring ahead of its rivals

0
Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

0
Nato chief Mark Rutte’s warning to Trump

Nato chief Mark Rutte’s warning to Trump

0
Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

0
Soft Manager – Trading Ideas – 5 August 2025

#EURUSD: Bearish Move After News – Analytics & Forecasts – 11 March 2026

March 11, 2026
Low inflation complicates rate path – ING

Disinflation supports dovish MNB without hurting forint – Commerzbank

March 11, 2026
Price predictions 3/11: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR

Price predictions 3/11: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR

March 11, 2026
Stocks making the biggest moves premarket: ORCL, AVAV, NKE

Stocks making the biggest moves premarket: ORCL, AVAV, NKE

March 11, 2026

Live Prices

© 2024 Investor News Today

No Result
View All Result
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech

© 2024 Investor News Today