Gimme the Scoop: EU Moolah Flows to Elon Musk's Firms amid Controversies
A Trump compatriot, Musk, gains millions from European Union subsidies - Musk, a friend of Trump, gains millions from EU funds
Get ready for a low-down on the millions in EU funds doled out to Elon Musk's biz ventures—Tesla, SpaceX, and X. A letter from the EU Commission to MEP Daniel Freund (Greens) unveils a Tesla subsidiary about to pocket a whopping €159 million from the "Connecting Europe" program for building electric vehicle charging stations.
But that ain't all! SpaceX grabbed around $197 million (approximately €177 million) for launching European satellite navigation system Galileo satellites, while X—Elon's social media platform—pocketed around €630,000 on ads till October 2023, according to documents obtained by the German Press Agency.
Given these revelations, Freund wants the payments to Musk-controlled companies halted, kicking back, "This cat-with-a-billion-lives man's an outspoken EU critic. It's unacceptable that we're still spilling hundreds of millions in subsidies to the world's richest dude!"
Musk's EU Quagmire
Musk isn't a fan favorite in the EU, mainly due to his cozy ties with former U.S. President Trump and his backing for the German AfD. EU processes are also in play against X for suspected violations of EU guidelines for digital services, focusing on compliance with rules to curb hate speech and misinformation.
The EU Commission's letter to Freund says no X services were paid post-October 2023. SpaceX's contracts to launch two Galileo satellites, worth two € launches, were the exception due to delays in the European Ariane 6 rocket's launch. Uncertainty remains, however, as to whether the list is exhaustive. The letter also points to the Financial Transparency System (FTS), noting that info for the 2024 fiscal year won't be revealed until June 2025. An EU Commission spokesperson verified they'd reassess the details on Tuesday. It's essential to remember that there are many players receiving EU budget funds.
[1] EU-News – EU Funding for Musk-Linked Firms under Scrutiny[4] Criticism Rises over Elon Musk's EU Ties and Funding[5] Time for the EU to Cut Musk's Subsidies – Freund
Keywords:
- EU
- Elon Musk
- Millions
- SpaceX
- Daniel Freund
- Donald Trump
- AfD
- EU Commission
- Electric vehicle
- German Press Agency
- Despite controversy, Elon Musk's companies - Tesla, SpaceX, and X - have collectively received millions from the European Union, with Tesla set to get €159 million for building electric vehicle charging stations.
- SpaceX has received around €177 million for launching Galileo satellites, while X, Elon's social media platform, has received approximately €630,000 for ads up until October 2023.
- EU MEP Daniel Freund has called for the halt of these payments to Musk-controlled companies, citing Musk's criticism of the EU and his wealth.
