Former Chairman of the Council of Economic Advisers Jason Furman discusses whether President-elect Trump and Elon Musk can cut $2 billion from the US budget in Cavuto: Coast Coast to Coast.
Elon Musk has already agreed to work with president-elect Donald Trump’s incoming administration to lead a commission aimed at government efficiency, but there are chances that the business empire of the world’s richest people will be used by the leader of the free world, too.
The Tesla CEO saw his multibillion-dollar profit rise this week after the electric car’s stock surged after Trump’s victory, while Musk’s other companies also saw the demise of his relationship with the Trump White House.
Elon Musk, CEO of Tesla Inc., left, and former US President Donald Trump, before a campaign event at the Butler Farm Show in Butler, Pennsylvania, US, Saturday, Oct. 5, 2024. (Justin Merriman/Bloomberg via Getty Images/Getty Images)
Here is a list of possible possibilities:
SpaceX
Boeing’s Starliner spacecraft atop a United Launch Alliance Atlas V rocket takes off from Space Launch Complex 41 during NASA’s Boeing Crew Flight test on June 05, 2024, in Cape Canaveral, Florida. (Photos by Joe Raedle/Getty Images)
Over the past decade, Musk’s aerospace company has secured more than $15 billion in government contracts, according to the New York Times, and the prospects for more government contracts look bright.
SpaceX was called in to rescue American astronauts stranded by longtime NASA contractor Boeing over the summer, and Trump made it a point on the campaign trail to express how impressed he was with SpaceX’s ability to hold its own. a large Starship rocket with mechanical arms called “sticks” as they landed on the launch pad last month.
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Trump also told FOX News that Musk promised him that SpaceX would send a rocket to Mars by the end of his second term.
Starlink
SpaceX’s satellite division, Starlink, has long been a major US partner in launching military satellites, but Trump’s return to the White House could result in more contracts to provide rural internet services.
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The Federal Communications Commission (FCC) of the Biden administration in 2022 canceled an $800 million grant given to Musk’s Starlink under the Trump administration to provide rural Internet, and Trump has praised the satellite service, even referring to it in his victory speech earlier Wednesday. in the morning.
Tesla
Tesla Cybertruck in the East Village, Manhattan on Saturday, July 6, 2024. (Julia Bonavita/Fox News Digital/Fox News)
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| TSLA | Company TESLA INC. | 296.91 | +8,38 |
+2.90% |
According to The Times, Tesla has only received about $352,000 in government contracts over the past decade, but TMZ has suggested another opportunity for the EV maker to help the Trump administration.
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The outlet wrote this week that Tesla’s Cybertruck is “ready” for the president, arguing, “We hear you, but does the president’s Cybertruck car appear to be missing from Question 47? Yes, the Secret Service will make its own aftermarket bells and whistles.”
The Boring Company, X, xAI, Neuralink
Musk’s operations, social media, artificial intelligence startup, and computing firm — along with his other companies — could all benefit from Trump’s deregulation plans.
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