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This is just completely untrue. Musk founded SpaceX from nothing, there was no prior entity he acquired or invested in.
https://en.wikipedia.org/wiki/History_of_SpaceX
There are lots of legitimate reasons to dislike Musk, there’s really no need to make up lies about him to justify having an extremely low opinion of him.
Republicans have traditionally been the party of “regulation doesn’t work, elect me and I can prove it to you”.
Maybe Musk is just taking the logical counter-part to this “regulation doesn’t work, put me in charge of a heavily regulated company and I can prove it to you”.