After years of huge subsidies, Elon Musk is big mad that the US government isn't giving one of his companies another substantial grant.<\/p>\n
After the Federal Communications Commission blocked an $885.5 million broadband funding grant to SpaceX's Starlink satellite internet service, the Musk company is appealing the decision and calling it \"grossly unfair.\"<\/p>\n
AsArs Technicanotes, SpaceX's appeal isunlikely to succeed but it could be a precursor to a lawsuit against the government for, in essence, refusing to give Musk hundreds of millions of taxpayer dollars.<\/p>\n
That would be striking, because in the past Musk has expressed a strong opposition to government subsidies.<\/p>\n
\"Im literally saying get rid of all subsidies,\"he said last year, \"but also for oil and gas.\"<\/p>\n
In spite of that libertarian posturing, the reality is that Musk's companies have received billions of dollars in US government funding.<\/p>\n
For the better part of a decade, news of large-figure subsidies have cropped up around the SpaceX and Telsa CEO's companies. In 2015, theLos Angeles Times reported that Tesla, SpaceX, and SolarCity had been granted a cumulative $4.9 billion from various federal agencies.<\/p>\n
An analysis fromGrid News published in April of this year found that Tesla has sold off $6 billion in regulatory tax credits a maneuver which, per the Trefis financial data firm, could have resulted in the company appearing more profitable than it actually is.<\/p>\n
In public, though, Musk has taken a decidedly anti-subsidy stance. Curious!<\/p>\n
In December 2021, he trashed President Joe Biden's plan to boost the electric vehicle industry with grants.<\/p>\n
Back in 2015, one financial expert warned that eventually, the government coffers would not be so open to Musk.<\/p>\n
\"He definitely goes where there is government money,\" Dan Dolev, a Jeffries Equity Research analyst, told the LA Times. \"Thats a great strategy, but the government will cut you off one day.\"<\/p>\n
And with the latest news from the FCC, it seems that just might be starting to happen.<\/p>\n
READ MORE: Starlink appeals FCC rejection of $886M grant, calls reversal grossly unfair [Ars Technica]<\/p>\n
More Musk v. USA:Elon Musk Had to Prove He's \"Not a Drug Addict\" After Smoking Weed With Joe Rogan<\/p>\n
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\nElon Musk Furious That the Government Isn't Giving Him More Free Money - Futurism<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"