Sen. Elizabeth Warren (D-MA ) published a report accusing Elon Musk of extensive conflicts of interest during his time as head of the Department of Government Efficiency and increasing his net worth by over$ 100 billion in the process.
In the last decades of Musk’s career, most economists believed he saw a huge hit to his online value, driven by public backlash against his firms over his steps at DOGE. However, Warren alleged Musk really increased his net worth by an astronomical amount in her new report,” Unique Interests Over the Public Interest: Elon Musk’s 130 Weeks in the Trump Administration”.
” Donald Trump’s presidency has been successful for Elon Musk. Since Election Day, Musk’s staggering net worth has increased by over$ 100 billion”, the report begins. ” While serving as a’ Special Government Employee’ in the White House and leading the Department of Government Efficiency ( DOGE ), Musk has maintained extensive financial conflicts of interest through his ownership or stake in several private and publicly traded companies: Tesla, SpaceX, X and xAI, the Boring Company, and Neuralink”.
According to the review, Musk’s firms faced$ 2.37 billion in possible responsibility from pending company enforcement actions before President Donald Trump took office. Most of these have been dismissed or stalled.
Big deals with the federal government, foreign administrations, and other private sector companies were brought under problem, though the document conceded that several didn’t violate any laws.
” But in other instances, Musk has engaged in actions that may have violated the legislative prohibition regarding federal workers ‘ participation in certain matters in which a federal official
has a monetary attention, laws against corruption and favors, or the laws prohibiting the use of
one’s government place for personal gain”, it says.
The report lists 130 way Musk reportedly engaged in doubtful habits, ranging from Starlink deals with international countries to a possible violation of the Hatch Act by wearing a” Make America Great Once” hat at Cabinet meetings.
The report says Musk has direct business interests in over 70 % of the agencies and departments targeted by DOGE.
His targeting of one of Warren’s most touted accomplishments, the Consumer Financial Protection Bureau, came under particular scrutiny. The report alleges that his gutting of the bureau was partially due to the possible regulation of his X Money.
Musk became a favorite target of Democrats during his tenure as DOGE head, with attention and criticism often eclipsing that of Trump. He left with a controversial legacy, though he retained an optimistic tone at his last Oval Office press conference.
ELON MUSK EXIT STRIPS DEMOCRATS OF DOGE BOGEYMAN AS PARTY GRAPPLES WITH FUTURE
When asked Friday if his time with Trump’s administration was worth it, Musk replied that DOGE was” an important thing”,” a necessary thing”, and” will have a good effect on the future”.
” I anticipate remaining a friend and an adviser, and I’m at the president’s service, as a rule,” he said.
