Elon Musk’s business empire continues to expand. These include electric vehicle manufacturers Teslasocial media company X, artificial intelligence startup xAI, computer interface company Neuralink, tunnel company Boring Company and aerospace company SpaceX.
Some of his businesses have benefited significantly from federal contracts. According to research by FedScout, SpaceX has generated more than $19 billion in revenue from contracts with the federal government. More lucrative contracts may come during Trump’s second term as president. FedScout CEO Geoff Orazem said that in the next few years, SpaceX expects to earn billions of dollars in annual revenue from major contracts with the federal government.
Musk, who often accuses government of stifling innovation, may also push for less regulation of his companies. Earlier this month, Trump appointed Musk and former Republican presidential candidate Vivek Ramaswamy to lead a government efficiency group called the Department of Government Effectiveness (DOGE).
In a recent op-ed in The Wall Street Journal, Musk and Ramaswamy wrote that DOGE would “pursue three major reforms: regulatory rollback, administrative cuts and cost savings.” They go on to say that many existing federal regulations never passed Congress and therefore should be repealed, something President-elect Trump could do through executive action. Musk and Ramaswamy also backed a massive audit of the agency, blaming the Pentagon for failing its seventh consecutive audit.
CNBC technology reporter Lora Kolodny said: “The number one way Elon Musk and his companies will benefit from the Trump administration is by deregulating and weakening the power of those responsible for overseeing him and his company. Resources provided by federal agencies for their businesses.
Find out how Elon Musk and company could also benefit from giving the film to the president-elect’s ears.
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