Multibillionaire Elon Musk made his first billion as the inventor of PayPal — and, as we all know, the first billion is the hardest.
Musk once showed he knew how to fill a market niche, but lately he has specialized in taking the easy way to more wealth, bilking taxpayers out of billions of dollars through various crony socialist schemes requiring generous state and federal subsidies doled out to his high tech money-losing efforts.
The amount of money the government gives to Musk is a truly shameful, indefensible example of welfare for the well-to-do.
Musk invested the money he made in PayPal in companies making electric cars (Tesla Motors), selling solar panels (SolarCity Corp.), and making and flying rockets (SpaceX).
Together, Tesla, SolarCity, and SpaceX have benefited from more than $4.9 billion in subsidies, tax credits, grants, and payments, according to the Los Angeles Times.