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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

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TechElon Musk
Europe

​Elon Musk eyes €1.5 billion Italy SpaceX deal after confidante Giorgia Meloni visits Trump at Mar-a-Lago

Ryan Hogg
By
Ryan Hogg
Ryan Hogg
Europe News Reporter
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Ryan Hogg
By
Ryan Hogg
Ryan Hogg
Europe News Reporter
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January 6, 2025, 7:03 AM ET
Elon Musk speaks with U.S. President-elect Donald Trump as they watch the launch of the sixth test flight of the SpaceX Starship rocket on November 19, 2024 in Brownsville, Texas. SpaceX’s billionaire owner, Elon Musk, a Trump confidante, has been tapped to lead the new Department of Government Efficiency alongside former presidential candidate Vivek Ramaswamy.
Musk and Trump have formed a close bond ahead of the latter’s return to the White House.Brandon Bell—Getty Images
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Elon Musk is close to further solidifying his ties with Europe’s right-wing political class as his SpaceX group nears a historic deal with the Italian government to provide security services to the public sector, just as Prime Minister Giorgia Meloni made a surprise visit to Donald Trump’s Florida residence. 

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SpaceX is in advanced talks with the Italian government to supply top-level encryption for telephone and internet services used by the government, Bloomberg reported, citing people familiar with the matter. The deal, which is valued at €1.5 billion, has reportedly already been approved by Italy’s intelligence services and its Defense Ministry.

The deal would represent the latest expansion to SpaceX’s activities with national governments after adding 20 nations to its Starlink satellite services in 2024.

The negotiations, which began in mid-2023, stalled as some government officials fretted about the impact on the country’s local carriers. Starlink previously accused Telecom Italia of blocking the rollout of its high-speed internet services across the country.

Meloni, who has criticized Italian groups, including Fiat, now part of Stellantis, over accusations of outsourcing their business activities, appears to have made an exception for Musk.

Meloni plays down national security fears

Speaking to Corriere della Sera, Meloni played down fears that the deal could risk national security. 

“I work to have major investments in Italy and evaluate the usefulness of each investment through the prism of our national interest,” said Meloni.

Bloomberg reports that the deal made fresh progress after Meloni visited President-elect Donald Trump’s Mar-a-Lago residence in Florida over the weekend. 

Representatives for SpaceX and Italy’s Defense Ministry didn’t immediately respond to a request for comment.

Musk has developed a close relationship with Meloni, who leads the far-right Brothers of Italy party. The pair bonded over falling birth rates in the Western world and potential applications of AI. 

They have attended several events together, which included Musk serving as the star guest at the Brothers of Italy annual conference in 2023. 

Presenting Meloni with a Global Citizen Award in New York in September, Musk described the Italian premier as ​​“authentic, honest, truthful—and that can’t always be said about politicians.”

Musk was forced to deny a romantic relationship with Meloni, who has painted Musk as a misunderstood genius.

“He is a great figure of our times, an extraordinary innovator who has always had his gaze fixed on the future,” Meloni told Corriere.

“It makes me laugh a bit that there are people who used to praise him as a genius but today depict him as a monster, just because he has chosen the ‘wrong’ political camp, as they see it.”

Musk tightens links to Europe

The world’s richest person has aggressively courted Europe’s right-wing parties in recent months after turning his attention away from the U.S. following Trump’s election victory in November.

Musk has voiced his support for Germany’s far-right Alternative for Germany (AfD) party, and reports suggest he will host a discussion on X with its leader, Alice Weidel. However, Musk has drawn criticism from Olaf Scholz and other German leaders over his comments on the country’s upcoming elections in February. 

He has also made imprisoned U.K. far-right leader Tommy Robinson his latest cause célèbre, calling for his release amid fresh attention on grooming gangs, sparking criticism from U.K. leaders. On Sunday, Musk called for Nigel Farage to step down as leader of the far-right Reform Party, which appeared to result from a disagreement between the pair over Robinson.

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Ryan Hogg
By Ryan HoggEurope News Reporter

Ryan Hogg was a Europe business reporter at Fortune.

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