Billionaire Elon Musk is attending President-elect Donald Trump’s tech industry meeting, which is being orchestrated by the tech-entrepreneur’s business partner, The Wall Street Journal reported.
Musk is the CEO of Tesla Motors and SolarCity, and is a close associate of Peter Thiel, the tech investor who backed Trump during his presidential campaign. Apple CEO Tim Cook and Facebook COO Sheryl Sandberg will also appear at the Wednesday meeting.
They were both founders of PayPal — and Thiel’s venture-capital firm Founders Fund also contributes millions of dollars to SpaceX.
SpaceX has been awarded contracts valued at more than $6.5 billion over the past eight years, mostly to delivering cargo to NASA’s primary space station. It’s also working on securing contracts from the Air Force valued at more than $100 million.
Tesla, for its part, also receives troves of government tax credits. The electric car maker recently acquired solar panel provider SolarCity, which was founded and directed by several members of Musk’s inner circle.
The merger came under fire in July from industry analysts after it was discovered that six out of seven SolarCity board members had intimate connections with Musk and Tesla.
Musk opposed Trump presidential bid, telling reporters in November that Trump “doesn’t seem to have the sort of character that reflects well on the United States.”
Various media reports indicate the former reality TV star turned president elect might nix renewable subsidies.
Trump’s election, coupled with Republican control of both chambers of Congress, might mean the end of some federal tax subsidies for solar power and electric cars, according to a WSJ report in November.
Trump could damage Musk’s business ventures if he eliminates or refuses to renew lucrative tax credits, which are set to phase out over time.
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