Home Australia Billionaires at heart of Trump administration in public spat as Elon Musk doubts $500B Stargate investment

Billionaires at heart of Trump administration in public spat as Elon Musk doubts $500B Stargate investment

0 comments
Billionaire Elon Musk did not buy the pronouncements of a new group of investors in the White House who said they would invest $500 billion in AI projects.

SpaceX founder and Donald Trump superfriend Elon Musk unleashed a shocking attack on a multibillion-dollar company the president touted at the White House on his first full day in office, setting off a battle of billionaires in Trump’s orbit.

The blowout from Trump’s new Department of Government Efficiency chief came as Trump brought OpenAI co-founder Sam Altman to the White House along with Oracle CEO Larry Ellison and Softbank head to tout massive investments in AI in the US which they said would total $500 billion. .

Musk didn’t buy the flashy pitch.

“They don’t really have the money,” he wrote on X about the project, which Trump said would be called Stargate, thus sharing the name of a 90s science fiction film.

‘SoftBank has less than $10 billion insured. I have it on good authority,” Musk later wrote.

Altman immediately responded to his billionaire colleague. He told Musk he was “wrong, as I’m sure you know,” posting on Musk’s X site. (Altman’s wealth has been estimated at $1 billion at the age of 39. Musk is worth 400 times that, according to Bloomberg, and his wealth skyrocketed after the election of Donald Trump, another billionaire.)

Then Altman asked, ‘Do you want to come visit the first site that’s already up and running?’ And he added: ‘this is fantastic for the country. “I realize that what is good for the country is not always what is optimal for your companies, but in your new role I hope you put (America) first,” using a US flag emoji.

Musk also retweeted investor Gavin Baker, who added up the financial positions of related companies and concluded they were “nowhere near $500 billion.”

Billionaire Elon Musk did not buy the pronouncements of a new group of investors in the White House who said they would invest $500 billion in AI projects.

“Everyone should start publishing press releases for trillion-dollar AI projects,” he said. wrote with disdain.

Musk’s comments directly undermine a signature Trump move: standing shoulder to shoulder with high-level executives who help his own political outcomes. Some of these projects have failed, such as Foxconn planned $10 billion in investments in Wisconsin during his first term that Trump said would create 13,000 jobs. On the other hand, the company mostly abandoned their plans.

White House spokeswoman Karoline Leavitt told Fox News that the American people “should accept the words of President Trump and the CEOs.”

“These investments are coming to our great country and American jobs are coming with them,” he said.

There has been continued speculation about the durability of Trump’s relationship with Musk.

Musk has been a frequent guest at Mar-a-Lago and has been at Trump’s side at key moments and stood out during his inauguration.

But Trump has long chafed at having to share the spotlight. Press hits, such as a New Yorker cover featuring Musk taking the Oval Office, are unlikely to help matters for the billionaire whose net worth has skyrocketed since he helped propel Trump’s victory.

Sam Altman, CEO of OpenAI, was at the White House to promote the investments.

Sam Altman, CEO of OpenAI, was at the White House to promote the investments.

Musk immediately questioned the promise.

Musk immediately questioned the promise.

Quoted

He cited “good authority” that Japan-run SoftBank was undercapitalized for the move.

Altman hit back at X

Altman hit back at X

He is likely to get a West Wing office, giving Trump prime ministerial access, even as his team seeking to cut $2 trillion from the government is growing to 20 people and now works inside the White House, in outside place as advertised.

Trump’s first batch of executive orders renowned The United States Digital Service is hereby publicly renamed the United States DOGE Service (USDS). Establish a “temporary” organization and mandate that each agency have a DOGE team that includes a team leader, an engineer, a human resources person, and a lawyer.

His Trump-announced co-leader, Vivek Ramaswamy, has already stepped back, with plans to announce a gubernatorial bid for a position that won’t be vacant until next year.

‘We will begin deploying $100 billion immediately. “This infrastructure will ensure American leadership in AI, create hundreds of thousands of American jobs, and generate enormous economic benefits for the entire world,” according to an OpenAI announcement about the Stargate project.

“This project will not only support the reindustrialization of the United States but will also provide a strategic capability to protect the national security of the United States and its allies,” he said.

You may also like