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

by Investor News Today
June 7, 2025
in Technology
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Elon Musk’s Fight With Trump Threatens $48 Billion in Government Contracts
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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The info could possibly be outdated or embody errors, however lots of the listed figures line up with press releases from companies such because the US Area Power.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.



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