Donald Trump recently stirred the pot with a bold claim: Elon Musk has received more government subsidies than any human being in history, suggesting that without them, Musk would have been forced to "head back home to South Africa." This statement has reignited a long-standing debate about the true role of government funding in Musk's vast business empire and whether it's the primary driver of his immense wealth.
It is true that Elon Musk's companies have received significant government support.
Tesla Inc., particularly in its formative years, benefited substantially. According to the Subsidy Tracker, Tesla has received approximately $2.83 billion in federal, state, and local subsidies. These come in the form of tax breaks, grants, and various incentives designed to promote clean energy and electric vehicles.
SpaceX and Musk's other ventures have also thrived on government contracts. A recent analysis revealed that SpaceX and Tesla were granted at least $18 billion in federal contracts over the past decade. These contracts, primarily with NASA and the Department of Defense, have been absolutely crucial for SpaceX's groundbreaking development and ambitious operations.
A broader analysis by The Washington Post suggested that Musk's business empire is built on $38 billion in government funding, a figure that encompasses contracts, subsidies, and grants across his diverse portfolio of companies.
Is Musk Truly the Largest Recipient in History?
While these figures are undeniably substantial, the claim that Musk is the single largest recipient of government subsidies in history doesn't hold up under scrutiny.
According to the Subsidy Tracker, companies like Boeing ($15.6 billion), Amazon ($10.3 billion), and Intel ($8.4 billion) have received significantly more in direct subsidies than Tesla, which actually ranks 16th on their list.
The $38 billion figure cited by The Washington Post is a broader measure, including both subsidies and contracts. When you consider this, many large corporations in sectors such as aerospace, energy, and automotive have received comparable or even greater levels of government support over decades.
Musk's companies are certainly notable for the scale and high visibility of their government partnerships, but the assertion that he has received "more than anyone in history" simply isn't supported by the available data.
So, how much of Musk's personal fortune is actually tied to these government subsidies?
The vast majority of Musk's immense wealth comes from his ownership stakes in Tesla and SpaceX, not from direct government subsidies. As of 2025, his net worth is estimated to be between $381 billion and $425 billion, with the bulk of it derived from the market value of his shares in these companies.
Tesla's stock price appreciation has been the primary engine of Musk's wealth. This surge has been fuelled by a combination of investor optimism, the company's technological leadership, and the accelerating global adoption of electric vehicles.
While government subsidies and contracts were undoubtedly instrumental in helping Tesla and SpaceX survive and grow, especially in their early stages, they represent a comparatively small fraction of Musk's personal fortune relative to the enormous value created by these companies on the stock market.
Elon Musk's companies have certainly received billions in government subsidies and contracts. This support was crucial for their survival and growth, particularly during their foundational years. However, he is not the largest recipient of government subsidies in history, with other major corporations having received more in direct aid.
Ultimately, the vast majority of Elon Musk's wealth stems from the market value of his equity in Tesla and SpaceX, not from direct government handouts. Donald Trump's claim, while attention-grabbing, appears to be an exaggeration. Musk has undeniably shown a remarkable ability to leverage government support, but his staggering fortune is overwhelmingly a result of private market valuations and the innovative companies he has built.
"The bitter breakup between US President Donald Trump and X owner Elon Musk appears to be worsening.
Mr Trump has threatened Mr Musk, the former DOGE head, with a DOGE review, lashing out at the billionaire over his objections to the "big beautiful bill".
The bill, which Mr Musk says would allow "debt slavery", would also see the billionaire Tesla owner lose Government subsidies for electric vehicles.
Without those Government funds, Mr Trump says Mr Musk would have had to "head home to South Africa".
The two have fallen out dramatically since the honeymoon days of their DOGE efforts in the White House when Mr Trump retook office. However, Mr Trump's Big Beautiful Bill has caused more arguments between the two.
Mr Musk had warned he would work to have supporters of Mr Trump's bill voted out, promising to throw his social media and financial might behind his plan.
However, Mr Trump was having none of it.
Taking to Truth Social on Monday night, Mr Trump wrote: "Elon Musk knew, long before he so strongly endorsed me for President, that I was strongly against the EV Mandate."
"It is ridiculous, and was always a major part of my campaign.
"Electric cars are fine, but not everyone should be forced to own one.
Mr Trump has previously said he was not worried about conflicts of interest with Mr Musk and his companies, which include Tesla, SpaceX and X, the social media platform, saying he would do what was needed to "Make America Great Again".
Suggesting that Mr Musk should be appreciative of what he has received from the US Government, Mr Trump said that without subsidies, Mr Musk would have had to pack up shop and return to South Africa, where he grew up.
"Elon may get more subsidies than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," Mr Trump wrote.
"No more rocket launches, satellites, or electric car production, and our country would save a FORTUNE.
"Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!"