In what’s being called a costly misfire for billionaire entrepreneur Elon Musk, a highly publicized $25 million investment project in Wisconsin has reportedly collapsed, drawing media attention — and a particularly sharp jab from late-night host Stephen Colbert.
The project, originally billed as a bold expansion of Musk’s business empire, was meant to transform a stretch of industrial land outside Milwaukee into a cutting-edge facility tied to renewable energy innovation. Though details remained under wraps for months, sources confirmed that Musk’s companies — possibly through a SpaceX or Tesla-affiliated initiative — were behind the purchase and initial groundwork of the site.
However, according to local officials and project insiders, the initiative ran into a series of insurmountable setbacks, including regulatory red tape, environmental challenges, and what one insider called “a complete breakdown in logistics.” On Wednesday, representatives confirmed that the project had been officially scrapped, with significant financial losses.
That’s when Stephen Colbert entered the chat.
On The Late Show, Colbert didn’t hold back. “Elon Musk just lost $25 million in Wisconsin,” he said, pausing for effect. “Now he knows what it’s like to buy a Tesla.” The audience erupted with laughter, clearly appreciating the double-layered jab — referencing both Tesla’s high price tag and the ongoing criticisms some customers have voiced regarding reliability and service.
Colbert’s roast quickly went viral on social media, where Musk is a frequent topic of both admiration and mockery. Twitter users flooded timelines with reactions, memes, and riffs of their own. One user quipped, “$25M is just Elon trying to find Wisconsin on the map,” while another added, “Stephen Colbert deserves a raise for this one.”
For Musk, the Wisconsin flameout may only be a minor financial hiccup, given his estimated net worth of over $180 billion. But the optics are less than ideal. In recent months, Musk has faced mounting scrutiny over management decisions at Tesla, erratic posts on X (formerly Twitter), and delays in several high-profile projects, including the long-promised Cybertruck and the rollout of Starlink in underserved regions.
Local reaction in Wisconsin has been mixed. While some residents lament the loss of potential jobs and economic stimulation, others express relief that the project won’t proceed. Environmental groups, in particular, had raised concerns about the impact of development on wetlands and protected land.
Despite the setback, Musk himself has yet to comment publicly on the failed venture. Known for his unpredictable social media presence, observers are eagerly watching to see whether he addresses the situation — or, more likely, shifts attention to one of his many other ventures.
As Colbert’s roast continues to circulate, one thing is clear: even a billionaire genius isn’t immune to late-night comedy’s heat — especially when $25 million goes up in smoke.
