South Africa: Trump Says Elon Musk Would Go Broke Without U.S. Subsidies

U.S. President Donald Trump has reignited debate over government support for private enterprise, claiming that tech billionaire Elon Musk -- CEO of Tesla, SpaceX, and other ventures -- is heavily reliant on U.S. subsidies, and that without them, "he would probably have to close up shop and head back home to South Africa."

In a post on social media, Trump criticised the federal government's electric vehicle (EV) mandate and suggested that Musk has received more subsidies than "any human being in history."

He framed Musk's success as deeply dependent on public funds, adding that halting such subsidies could save the U.S. "a fortune."

Musk's companies have undeniably benefited from substantial government backing. Tesla, SpaceX, SolarCity (now part of Tesla), and The Boring Company have all tapped into federal and state-level incentives over the years.

According to a 2015 analysis by The Los Angeles Times, Musk's companies had received an estimated $4.9 billion in government support, ranging from tax credits to loans and grants.

Tesla alone received a $465 million loan from the U.S. Department of Energy in 2010 -- which it repaid early -- helping to accelerate the production of electric vehicles. SpaceX, on the other hand, has won multibillion-dollar NASA and Department of Defense contracts, becoming a major partner in U.S. space operations.

Today, Tesla still benefits from EV tax credits, though the system has changed under the Inflation Reduction Act signed by President Joe Biden. SpaceX continues to secure major contracts, including missions to the International Space Station and plans under NASA's Artemis program to return humans to the Moon.

However, Musk has often positioned himself as a critic of heavy-handed government intervention. He's voiced opposition to union mandates, government regulations, and what he calls "woke capitalism."

Trump's post -- while critical -- mirrors that sentiment, arguing that Americans should not be forced into EV adoption by federal policy.

Musk has not publicly responded to Trump's latest remarks, though he previously denied being overly reliant on government funds, asserting that his companies create immense value, innovation, and jobs.

Read the original article on Nile Post.