Elon Musk, CEO of SpaceX and Tesla, is a person who always seems to get people talking. Musk’s leadership decisions and opinions frequently make headlines because he is known for his ambitious projects. He has recently been speaking out about something that has caught his attention: the possibility of a financial collapse for the United States.
Musk discussed his concerns and the reasons he thinks the country is headed in the wrong direction in a recent interview. The expenses associated with Musk’s new position in the Department of Government Efficiency are undeniable. He has lost a significant amount of his wealth since taking on this role.
According to Boosted, it is estimated that Musk has lost over $95.2 billion US dollars. The bulk of his wealth is tied to Tesla and SpaceX, with Tesla’s stock taking a massive hit since the political shift in the U.S.
Musk has already witnessed the loss of 48% of Tesla’s market value. He maintains his commitment to his mission despite this financial setback, stating that the government’s debt management and the national budget require immediate attention. Musk has voiced his concerns regarding the expanding national debt, specifically the interest payments, which exceed the budget for defense. He sees this as a major issue that needs immediate attention.
According to Musk, if the government doesn’t act quickly, there won’t be enough funds to support the country’s basic needs.
The government appears to be dealing with short-term solutions that he believes are insufficient rather than concentrating on the country’s financial health over the long term. Additionally, Musk noted the absurdity of paying for the benefits of people over 150, which, in Musk’s opinion, indicates a significant flaw in the system. Despite all the controversies, Musk’s words during the interview seem to come from a place of concern for the future.
Because he believes that a collapse would have catastrophic effects, he wants the United States to avoid bankruptcy. Elon Musk’s background is no less impressive. He left South Africa in 1971 to pursue a career in technology and moved to the United States. Musk dropped out of a Ph.D. program at Stanford University in 1995 to start his first business, Zip2.
Musk went on to create PayPal, which was acquired by eBay for $1.5 billion after being sold for $307 million. After that, he set up SpaceX with the goal of making space travel more affordable and eventually colonizing Mars. Additionally, Musk helped transform Tesla into the electric car giant it is today.
He has experimented with projects like Neuralink and The Boring Company, pushing the boundaries of innovation, in addition to his ventures.