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Reading: Shock! Trump discovered one other strategy to make Musk even richer
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The Wall Street Publication > Blog > Politics > Shock! Trump discovered one other strategy to make Musk even richer
Politics

Shock! Trump discovered one other strategy to make Musk even richer

Editorial Board Published March 6, 2025
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Shock! Trump discovered one other strategy to make Musk even richer
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The Trump administration is seeking to change a Biden administration program that expands web protection to rural areas—and line the pockets of co-President Elon Musk within the course of, The Guardian reported on Wednesday.

In line with The Guardian’s report, Commerce Secretary Howard Lutnick informed senior officers he needs to amend BEAD, the $42.5 billion Broadband Fairness Entry and Deployment program Congress handed in 2021, by ending the Biden administration’s plan to construct out fiber optic networks throughout the nation to increase web entry. The deliberate fiber optic cable networks would get replaced with satellite tv for pc service, corresponding to Musk’s Starlink.

Utilizing satellite tv for pc as a substitute of fiber optic cable would seemingly be cheaper for the federal government. However satellite tv for pc service is much less dependable and costlier for customers than fiber optic web, The Guardian reported. 

“I don’t think there is doubt that Bead will continue,” Blair Levin, a coverage advisor to the telecommunications evaluation agency New Avenue Analysis, informed The Guardian. “What is in doubt is whether people get a long-term solution or something that is definitely good for Elon Musk.”

What’s extra, constructing out a fiber optic community would create jobs inside states that will go away if the Trump administration cancels the plan. The Guardian reported that Republican senators may elevate a stink if Trump and firm do nix the fiber optic community buildout.

Any change to this system may face substantial pushback from states and Congress, together with Republican senators who’ve beforehand sought assurances from administration officers that the federal program, which is predicted to generate billions of {dollars} in long-term financial development throughout among the poorest states within the US, would largely be left alone.

That is the newest occasion through which Musk is financially benefitting from his shady place within the Trump administration.

For instance, the Federal Aviation Administration is planning to finish its $2.4 billion contract with Verizon for a communications system and as a substitute go along with Musk’s Starlink. 

Rolling Stone additionally reported that FAA officers have been ordered to search out tens of millions of {dollars} to pay for a cope with Starlink.

Musk was additionally slated to get $400 million from the State Division, which deliberate to buy armored Tesla Cybertruck autos to ferry round American diplomats. However that plan was scrapped after backlash.

In the end, Musk constructed his enterprise empire largely with $38 billion in authorities funding, The Washington Submit reported. He’s now the richest man on the planet.

Sure, the exact same Musk who, via the so-called Division of Authorities Effectivity, is pushing for enormous cuts to the federal funds which have led to the firings of hundreds of federal staff—lots of them veterans.

Musk’s rampage via the federal authorities whilst he’s sucking from the federal government’s teat is unpopular with voters.

A Civiqs ballot performed for Each day Kos from Feb. 28 to March 3 discovered that 53% disapprove of how Musk is dealing with his job as a senior Trump adviser. The same 52% of voters suppose Musk has an excessive amount of affect within the authorities, with 50% saying the federal workforce cuts Musk and Trump have made are a nasty factor for the nation.

Thanks to the Each day Kos group who continues to combat so onerous with Each day Kos. Your reader help means every part. We’ll proceed to have you ever lined and hold you knowledgeable, so please donate simply $3 to assist help the work we do.

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