Elon Musk’s $5 Billion in Govt Subsidies Helps Make Ends Meet

Breitbart.com ^ | 31 May 2015 | Robert Wilde

[Rockitz]

If you build it we will come could be the mantra for Los Angeles billionaire mogul Elon Musk.

Well the Los Angeles entrepreneur built Tesla Motors Inc., SolarCity Corp. and Space Exploration Technologies Corp., known as SpaceX, and what came was an estimated $4.9 billion in government subsidies, according to data compiled by The Los Angeles Times.

“He definitely goes where there is government money,” said Dan Dolev, an analyst at Jefferies Equity Research. “That’s a great strategy, but the government will cut you off one day.”

Now after a plethora of government incentives, such as grants, tax breaks, factory construction, discounted loans, environmental credits that Tesla can sell, tax credits and rebates to buyers of solar panels and electric cars, questions remain whether these companies can make it on their own and are they worth the investment of taxpayer funds.

Although stock prices have risen for both Tesla and SolarCity–Musk’s slice of the pie is estimated at $10 billion–both companies haven’t made a profit in over 10 years and are still reporting huge net losses. Tesla stock has risen 157% over the last two years, to $250.80 as of Friday’s close.

Space X, the L.A. mogul’s private company, does not have to show its financial statement—a private company which enjoys more than $5.5 billion in government contracts from NASA and the U.S. Air Force.

Unfortunately, Musk and his companies’ investors reap all of the financial rewards of the government support, while taxpayers assume much of the cost.

[Secret Agent Man]

At least 5 grand we know of to obama and 35 grandto dnc pac, plus other democrats.

[csn vinnie]

The Captains of Industry, the Titans of Finance, the best and brightest of this generation, can’t find their way to the restroom without government subsidies.

[TurboZamboni]

I can’t understand why Beck thinks he’s the cat’s meow.

[houeto]

When I mentioned the billions of taxpayers’ money thrown at this leftist, my friend denied that such was the case

Not to mention his generous donations to the democrats that provided him with the money to donate!

Could be wrong but it sure seems like I've seen this charade someplace else before.

[houeto]

His standard business plan is to capture the market by undercutting on price and then make his money on the public offering.

The only way he has been able to undercut the markets is by using the $4.9 BILLION he was given of U.S. taxpayer dollars.

[jwalsh07]

From your pocket to Musks bank account.