Yahoo Finance Elon Musk Says He Welcomes Recession So Money Stops 'Raining' Down On 'Fools'
In what many critics deemed a spectacular self-own, Tesla CEO Elon Musk announced in a Tweet that he welcomed a global recession so money would stop “raining” down on “fools.”
Musk posted the comment Thursday in response to a question concerning his attitude about a possible coming recession.
As for raining money, critics were happy to point out that Musk has been the recipient of millions of dollars in tax breaks ($64 million from Texas alone), and a very hefty government loan, among other support.
Tesla scooped up a $465 million loan in 2009 as part of a federal stimulus package, which financed the development and manufacture of Tesla’s groundbreaking Model S.
In 2015, the Los Angles Times estimated that Musk’s companies had already benefited from some $5 billion in government support.
In an added dig, the self-awareness-challenged Musk accused people who have been stuck working remotely because of the pandemic of now being under the delusion that they “don’t actually need to word hard.” He chuckled: “Rude awakening inbound!”
Musk figured in his tweet that a good recession would last up to 18 months so “negative cash flow” resource-gobbling enterprises can “die” — apparently forgetting that it took Tesla nine years to post its first annual profit.
Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen.
Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!— Elon Musk (@elonmusk) May 27, 2022
Twitter critics had a “rude awakening” (inbound!) for Musk.
Remember, government subsidies are just awful (unless they go into Elon Musk’s pockets). pic.twitter.com/WI8muKwfT8
— David (@davidrojr) May 27, 2022
Raining money? As in carbon credits? Space bailouts? Lower percentage tax rates for people at the very top than everyone else? On whom does it rain? It rains on thee...... (If this is intended as a slam on Bezos, you are partly forgiven...)
— Daniel Bliss 🏳️🌈 (@debliss) May 28, 2022
Says the man whose company had millions of taxpayer money rained on him. I guess belt-tightening is only for the masses, Elon? #outoftouch#narcissist
— Philip Guarino (@Philip_Guarino) May 28, 2022
What a truly repellent individual @elonmusk is.
A megalomaniac who would have failed without public money, tax breaks & everything he criticises others for.
His lack of lucidity & humility shows how unfit he is to own @Twitter.
https://t.co/SHd3LvZvpq— Mafevema #CommonGround (@mafevema) May 28, 2022
"Musk can scold work-from-homers all he wants. But when it comes to benefiting from handouts and loans, few have been rained on more than him"
-- Andrew Lawrencehttps://t.co/FAXe7hKWb5— Ian Wallis (@gajido_ian) May 28, 2022
With the COVID recession alone, a John Hopkins business school study showed it would result in 1.37 million more people dying over the next 20 years than otherwise would have, especially people of color.
Elon Musk is asking for more of this.— Rafael Shimunov (@rafaelshimunov) May 28, 2022
This article originally appeared on HuffPost and has been updated.
