The public feud between Elon Musk and former President Donald Trump has highlighted the significant influence the U.S. government has over Musk’s enterprises, according to Cathie Wood, CEO of Ark Invest. In a video posted on Ark Invest’s YouTube channel, Wood stated that this situation is making investors realize the extent of governmental control over Musk’s ventures. Many of Musk’s companies, such as Tesla, SpaceX, and Neuralink, have strong ties to the government and have benefited from billions in federal loans, contracts, tax credits, and subsidies. SpaceX alone has approximately $22 billion in federal contracts. The feud caused Tesla’s stock to drop more than 14% after a series of disputes between Musk and Trump. Despite the tension, Wood believes that Musk works well under pressure and often creates chaos himself. She also mentioned that Musk might be attempting to distance himself from the Trump administration. While tensions remain high, Wood remains optimistic that neither Musk nor Trump will let the feud hinder their progress. — new from Business Insider
