Musk receives EU millions: friend demands an immediate stop to payments!

Musk receives EU millions: friend demands an immediate stop to payments!

Elon Musk has repeatedly made headlines in recent years, not only because of his corporate strategies, but also because of his controversial political positions. Now there is news about his companies and their financial ties to the European Union. According to a letter from the EU Commission to German MEP Daniel Freund (Greens), Musk-controlled companies receive EU funds totaling three-digit millions. To be precise, the Tesla subsidiary will receive almost 159 million euros from the “Connecting Europe” funding program for the construction of electric car charging stations.

In addition, SpaceX expects around 197 million dollars (approx. 177 million euros) for satellite launches for the European satellite navigation system Galileo. This comes in a context where Musk is controversial both politically and economically, particularly because of his support for Donald Trump and the AfD in Germany. Freund has called for an immediate stop to payments to Musk-controlled companies and described Musk as a “declared enemy of the EU”.

Criticism of subsidies

The critical voices are becoming louder, especially in view of the fact that proceedings are underway against Musk's Platform X for alleged violations of EU regulations for digital services. It is noted that since October 2023, X's paid services have no longer been used, further questioning the future financial relationship between the EU and Musk's company. The rocket launch orders were an exception due to delays in Europe's Ariane 6 launch vehicle.

All of these developments shed light on the unclear situation of financial relationships and support for Musk's company, while the full list of relevant information is still pending. Information on the 2024 fiscal year will not be published until June 2025, further limiting the transparency of this matter.

A look at Elon Musk

Elon Musk, born in Pretoria, South Africa in 1971, is considered the richest man in the world. His career is characterized by an early enthusiasm for technology and space travel. After moving to Canada in 1989, he completed a degree in economics and physics. In 1995 he founded his first company, Zip2, which was sold in 1999. Musk subsequently invested in X.com, an online payment platform that eventually became PayPal.

By founding SpaceX and Tesla, Musk implemented ambitious goals that challenged existing standards in the space and automotive industries. SpaceX, whose first rocket was launched in 2006, has achieved numerous achievements, including the first private manned flight to the ISS in 2020. Tesla, founded in 2003, became profitable in 2020 and achieved massive sales in China. Another major undertaking by Musk was the purchase of Twitter (now X) for $44 billion in 2022, followed by major restructuring.

Musk's leadership style is characterized by direct communication and minimal meetings, which is intended to promote efficient work. Despite his successes, Musk remains a polarizing figure, both in business and politics. Coming developments regarding its relations with the EU may have both economic and political implications and will be closely monitored. More reported on this finance.net and every day development.