Despite being owned by the richest man in the world, Elon Musk’s brain implant startup Neuralink identified itself as a “small disadvantaged business” with the federal government.
Neuralink and the Small Business Administration did not immediately respond to Fortune’s request for comment.
The SBA defines “economically disadvantaged individuals” as “socially disadvantaged individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same or similar line of business who are not socially disadvantaged.” Any person with a net worth of more than $850,000, not including their home equity, also does not qualify.
There is no evidence Neuralink received any disbursements from the federal government under this designation.
Still, the Justice Department has previously sought to prosecute those who claimed false special designations with the government. In 2023, the owner of an investment properties company falsely claimed to be a “service-disabled veteran owned small business” in SAM, the official website for companies conducting business with the federal government.
