Elon Musk Rejects Government-Support Claims, Says Incentives Amount to Less Than 2% of Tesla and SpaceX Value

According to Musk on X, the claim that government support built Tesla and SpaceX is "totally false." The billionaire said that when summing all government incentives his companies have ever received, they amount to less than 2% of SpaceX and Tesla's combined value. Musk added that many subsidies actually benefited competitors more than his own firms.

Musk pointed to the 2025 elimination of the $7,500 federal EV tax credit as evidence, stating that Tesla sales actually increased after the credit was removed as buyers shifted from rival EV makers to Tesla. His comments came as SpaceX completed its blockbuster stock market debut on Friday, with shares soaring 19% on their first trading session and lifting the rocket maker's valuation above $2.1 trillion.