Neuralink falsely claimed to be a "small disadvantaged business" in a Small Business Administration filing while its owner, Elon Musk, was undermining DEI initiatives. The designation is intended for companies majority owned by socially or economically disadvantaged individuals, which Musk, a white billionaire, does not fall under. Following this filing, Neuralink's valuation reached $9 billion. Although Neuralink has denied applying for federal assistance, the incorrect designation could have legal consequences for its executives who signed under oath.
Neuralink claimed it was a "small disadvantaged business" in an SBA filing this past April, despite Musk's efforts to dismantle DEI protections during Trump's presidency.
The designation of "small disadvantaged business" is only legally applicable for companies majority owned by socially or economically disadvantaged individuals, which Musk does not qualify as.
A month after the SBA filing, Neuralink's valuation soared to $9 billion, exceeding the GDP of several small countries, raising questions about the veracity of its DEI claim.
Neuralink stated the business classification was checked in error and claimed it never applied for federal benefits, but such a check could carry legal implications for its executives.
Collection
[
|
...
]