Since publicly showing his closeness to Donald Trump, Elon Musk has not hidden his contempt for the Democrats, which raises questions about whether he has forgotten when one of the leaders of this party, Barack Obama, loaned him $465 million to develop his electric cars.
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In 2010, the Obama administration in the United States, through its Secretary of Energy, Steven Chu, announced a federal loan of $465 million to Tesla Motors to build its electric sedan and the batteries necessary for its development, as reported by Wired.
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Musk paid off the debt in 2013, nine years earlier than agreed. That same year, Obama not only loaned to Tesla, but also to Ford ($5.9 billion) and Nissan ($1.6 billion) as part of an Advanced Technology Vehicle Manufacturing Program to help car manufacturers.
“We have a historic opportunity to help ensure that the next generation of fuel-efficient cars and trucks are manufactured in the United States.... These loans - and the additional support we will provide through the Section 136 programs - will create good jobs and help the automotive industry meet and even exceed the tough fuel economy standards we have set while helping to maintain our competitive edge in the global market,” said President Obama at the time through a statement.
Elon Musk expressed gratitude by saying: "We are honored to receive one of the first loan awards in this program... I am confident that we will put the money to very productive use. We hope to produce the Model S."
Elon Musk, gratitude for the betrayal
Since the 2024 presidential campaign, Elon Musk has completely changed, shifting from gratitude to attacking Democrats, showing strong support for Trump. In July of that year, he wrote on X: “They will soon take Biden fishing,” accompanied by a photo of a fisherman at sea, followed by a picture from ‘The Godfather’ movie with the phrase: “Do you know what’s the worst thing about betrayal?... It never comes from your enemy.”
Recently, the magnate blamed Democratic donors for the increasing protests and attacks against Tesla. “The big donors of the Democratic Party are funding these protests. It’s no coincidence that Tesla is the target right now,” he stated.
And it’s not just about the protests. According to Bloomberg, Elon Musk’s fortune has decreased by more than $120 billion in recent months, and it is believed that this is partly due to the loss of confidence from investors, coupled with market volatility.
In an article titled ‘How Elon Musk went from being a progressive and supporting Obama to being a fervent defender of Donald Trump’, La Tercera commented on his biography, stating that “it is clear that all his relationships are difficult and that no one escapes his dramas.” It highlights that he doesn’t mind offending or intimidating in order to achieve his goals.