Elon Musk Is About to Make Bank Thanks to Trump’s Internet Overhaul
Elon Musk may be getting another handout from the federal government.
The Wall Street Journal reports that the tech mogul’s satellite internet company, Starlink, could soon make up to $20 billion thanks to a Commerce Department overhaul of a Biden-era program to expand broadband internet access to rural areas.
Commerce Secretary Howard Lutnick has told staff that he wants to make grants under the $42.5 billion Broadband Equity, Access, and Deployment Program “technology neutral,” which would give states the ability to allocate more funds to satellite internet providers like Starlink instead of companies using fiber-optic cable technology to connect rural areas.
Musk and Starlink could draw much more funding under the new rules. Under the program’s existing restrictions, states can only fund alternatives to fiber, such as satellite, in places where laying fiber cables isn’t cost-effective or feasible. Starlink was expected to haul in around $4.1 billion under the existing rules but could rake in anywhere from $10 billion to $20 billion if Lutnick’s changes are accepted.
Those changes could be announced this week, albeit without many details, according to unnamed sources cited by the Journal. Implementing the overhaul could take longer, as some states may decide to change the allocation of funding they’ve already received. But Musk could easily grease the wheels or complicate matters if he devotes any X posts to the issue.
The tech mogul and fascism enthusiast has benefited immensely from the Trump administration, only adding to his government-subsidized wealth as the world’s richest man. If these changes to rural broadband funding go through, not only will Musk get richer but his power in the federal government will increase and extend to rural America.
