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Elon Musk cashes in on new federal contracts: SpaceX heading for billions of dollars
With the risk of a huge conflict of interest thanks to his influence in the Trump administration, Musk expands SpaceX’s reach with new deals from Defence to Nasa
Elon Musk, the world’s richest man, continues to extend his influence over the US administration led by Donald Trump with a series of new federal contracts that could bring billions of dollars into the coffers of his space company, SpaceX. Thanks to his key role within the Department of Energy Efficiency, Musk has gained some freedom to manoeuvre, raising questions about possible conflicts of interest.
The billionaire has maintained unprecedented access to government decisions, as evidenced by his recent visit to the Pentagon, which remains shrouded in mystery. Federal officials have revealed that SpaceX is preparing to obtain contracts of unprecedented value, particularly with the Department of Defence, which will purchase the company’s missiles for transporting military cargo. The Department of Commerce and Nasa are also involved: Musk’s Starlink satellites will be part of a $42 billion project to expand broadband in rural areas, and Nasa will focus resources on Mars exploration to fulfil Musk’s dream.
In addition to the new contracts, SpaceX is pushing to expand its operations on federal ‘spaceports’ in Florida and California. The Federal Aviation Administration has already approved an increase in Falcon 9 launches from the Cape Canaveral base.
With SpaceX emerging as one of the US government’s major contractors and with commitments of $3.8 billion in fiscal year 2024, Musk’s influence over the government continues to grow. However, concerns about conflict of interest and abuse of power are growing, especially at a time when Musk is cutting federal resources, laying off some 100,000 workers as he expands his industrial empire.
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