Elon Musk Pushes For Privatization Of Postal Service And Amtrak: 'It Will Leave You With A Very Bad Impression Of America'

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Elon Musk Pushes For Privatization Of Postal Service And Amtrak: 'It Will Leave You With A Very Bad Impression Of America' - Benzinga

Quick Summary:

In contrast, Amtrak has experienced a revival in ridership, exceeding pre-COVID-19 levels in 2024. However, for the 12 months ending September 30, the rail operator reported an adjusted operating loss of $705 million, reflecting a 9% decline compared to 2023.

What Happened: During a Morgan Stanley conference on Wednesday, Musk stated, “I think logically we should privatize anything that can reasonably be privatized,” as per Reuters, acknowledging that such measures would require congressional approval.

Despite posting a profit of $144 million in the fourth quarter, the Postal Service has been grappling with financial woes, having lost over $100 billion since 2007.