Elon Musk’s Tesla business is suffering blows from DOGE activities. The Trump administration has postponed plans to purchase its armored electric vehicles. The State Department has been in talks with Musk but reports emerged about a potential $400 million purchase. The Biden administration told the State Department to get information from possible suppliers about how to buy these cars in September. According to data from the State Department from December, an official call for bids was set to come out in May. The State Department spokesperson said that Musk’s electric car firm was the only one that showed interest in supplying. Following news of plans to acquire from Tesla, the State Department revised the data entry on its expected contracts forecast for fiscal year 2025. The State Department said it should have been added to the system as a general electric vehicle manufacturer. In the data entry, there is a company listed for a different purchase: BMW, a German car company. Now the request is on hold and the State Department said there are no plans to send it out. This news comes after much criticism of Musk cutting the Fed’s costs yet getting contracts from them. Could this be a way to calm the attacks? Musk convinced MAGA he's fighting to save their precious taxpayer dollars. Meanwhile, he's teed up to win a $400 million contract making armored Tesla cars for the State Department. No talk of cutting that one, oddly enough! https://t.co/ptDlICO9RF — Jared Holt (@jaredlholt) February 12, 2025 The agency said that neither Tesla nor any other company had been given a government contract to make armored electric cars for the Department of State. Meanwhile, Elon Musk’s net worth fell below $400 billion for the first time this year this week. This is down from more than $486 billion in December. Tesla accounts for around 60% of Musk’s fortune. This also marked a 27% decline. Musk’s continuous contentious plunge into politics has contributed to the stock’s decline. This also means that Elon Musk has lost about $90 billion in wealth in less than two months. Musk is shown to have received Fed funds amid DOGE cutting spending Elon Musk is going after federal workers who he thinks are getting richer than their salaries let them. He thinks that these workers are doing this by using taxpayer funds to get rich. This is a part of his plan to cut government spending. Musk said, “We find it sort of rather odd that there are quite a few people in the bureaucracy who have ostensibly a salary of a few hundred thousand dollars but somehow manage to accrue tens of millions of dollars in net worth while they are in that position.” However, every year, Musk’s businesses get contracts worth hundreds of millions of dollars. Since 2008, the federal government has given SpaceX almost $20 billion to send people and devices into space. Also, Tesla had already gotten $41.9 million from the U.S. government, which was paid for cars it gave to some U.S. missions. In addition, reports say that the EV company Tesla has received $2.8 billion in tax breaks or grants. Its stock makes up most of Musk’s nearly $400 billion net worth. In 2015, Musk’s companies, such as Tesla, SpaceX, SolarCity, and The Boring Company, got nearly $5 billion in tax breaks. The deal with Tesla was supposed to be the biggest deal of the year when it was being planned. He got some of his money from taxes, and that is still what was planned before the plans were put on hold. Meanwhile, Musk said that 29 DEI training funds would lose $101 million. On Tuesday, the DOGE account on X noted that Musk’s team ended 89 contracts worth a total of $881 million. Yesterday, reports said that several US agencies have started letting go many workers. Letters of termination were sent to workers at the Small Business Administration (SBA), the Consumer Financial Protection Bureau (CFPB), the General Services Administration (GSA), and the Department of Education. Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here
