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US agencies fund, and fight with, Elon Musk, a Trump presidency could give him power over them

Economic Times

Economic Times · 10m ago

US agencies fund, and fight with, Elon Musk, a Trump presidency could give him power over them

Elon Musk has significant influence over the federal government through his companies like SpaceX. He controls NASA's rocket launch schedule and the Defense Department relies on him for satellite launches. Last year, his companies received $3 billion across numerous contracts with 17 federal agencies. However, Musk's interactions with federal regulators have been adversarial, leading to multiple investigations and reviews. He has supported former President Donald Trump, who has promised to make Musk head of a government efficiency commission. This could raise conflicts of interest as Musk would be regulating agencies that oversee his own companies. Legal experts question the feasibility of this arrangement due to potential biases and financial interests.

Related News

Elon Musk is about to find out what $130 million for Trump gets him

Economic Times

Economic Times · 9m ago

Elon Musk is about to find out what $130 million for Trump gets him

Elon Musk, the billionaire CEO of Tesla and SpaceX, played a significant role in supporting Donald Trump's re-election campaign. Musk's political influence could pay off for him as Trump has hinted at giving him an official role in cutting government spending, which would allow him to influence policy and federal agencies overseeing his companies. Tesla's stock surged after Trump's win, and Musk's personal fortune has been tied to political developments. However, tensions may arise between the two men due to their egos and conflicting interests. Nevertheless, Musk now possesses a robust political machine that could benefit his businesses and policy goals in the future.

How Silicon Valley's influence in Washington benefits the tech elite | TechCrunch

TechCrunch · 3m ago

How Silicon Valley's influence in Washington benefits the tech elite | TechCrunch

The article highlights the growing influence of Silicon Valley billionaires like Elon Musk, Peter Thiel, Marc Andreessen, and Palmer Luckey over U.S. federal agencies since Donald Trump's presidency. Their associates have taken considerable roles within these agencies, directing significant contracts to their companies, raising conflict-of-interest concerns. This influence potentially undermines competitive policy-making and promotes business interests over public good. Such concentrated power risks prioritizing specific companies over fostering true economic competition.

Venezuela Prez Maduro dares Musk to fight on national TV, Musk says 'If I win, he resigns'

Inshorts · 1y ago

Venezuela Prez Maduro dares Musk to fight on national TV, Musk says 'If I win, he resigns'

Venezuelan President Nicolás Maduro challenged Elon Musk to a fight on national TV after the Tesla CEO alleged the country's presidential election was fraudulent. "Whoever messes with me, dries up...Let's go at it, wherever you want," Maduro said. "If I win, he resigns as dictator of Venezuela. If he wins, I give him a free ride to Mars," Musk replied.

Donald Trump returns to X in victory for Elon Musk

Economic Times

Economic Times · 1y ago

Donald Trump returns to X in victory for Elon Musk

Donald Trump has returned to the social media platform X after a year of silence. Trump posted a campaign video before a scheduled interview with X owner Elon Musk. His return could boost the struggling platform, which has faced competition from new social media platforms. Trump used X extensively during his presidency and was banned in 2021 after his followers stormed the Capitol. Musk, who acquired X in 2022, reinstated Trump's account and encouraged his return. Trump has since launched his own platform Truth Social but is contractually obligated to post there first.

Elon Musk calls for US government to 'delete entire agencies'

Economic Times

Economic Times · 6m ago

Elon Musk calls for US government to 'delete entire agencies'

During the World Governments Summit in Dubai, Elon Musk suggested deleting entire federal government agencies in the U.S. Musk emphasized the need for structural changes to prevent inefficiencies, likening the process to removing the roots of a weed to stop regrowth. As a prominent figure in tech and government, Musk has significantly influenced government operations under President Trump, often sparking debates over the boundaries of presidential power.

Trump ‘frustrated’ with Elon Musk but ‘doesn't want a long-term feud’, says JD Vance

Economic Times

Economic Times · 2m ago

Trump ‘frustrated’ with Elon Musk but ‘doesn't want a long-term feud’, says JD Vance

Former President Donald Trump is reportedly frustrated with Elon Musk but does not wish to escalate it into a long-term feud, according to Vice President JD Vance. He mentioned discussions with both Musk and Trump to ensure Musk's support for Trump's administration. Despite the frustration, Trump values Musk's contributions towards improving governmental efficiency early in his presidency. Trump seems keen on maintaining a harmonious relationship with the influential entrepreneur and significant campaign donor.

Elon Musk and Trump win fight to keep DOGE’s work secret

Arstechnica

Arstechnica · 5m ago

Elon Musk and Trump win fight to keep DOGE’s work secret

Elon Musk and the Department of Government Efficiency (DOGE) secured a temporary court decision, shielding them from complying with a discovery order tied to their cost-cutting operations. A federal appeals court placed a stay on a prior ruling that allowed 14 states to request information from Musk and DOGE. The states claimed President Trump overly empowered Musk without proper authorization. The situation is pending further court decisions, with the possibility of future limitations on DOGE's access to government data.

Conservative think tank targeting NASA employees' communications about Elon Musk, Donald Trump

Economic Times

Economic Times · 10m ago

Conservative think tank targeting NASA employees' communications about Elon Musk, Donald Trump

- Conservative think tank Heritage Foundation is requesting NASA to disclose internal discussions on Elon Musk and former President Donald Trump. - The Heritage Foundation aims to identify civil servants who oppose Trump's plan to appoint Elon Musk as a government efficiency czar. - The requests are viewed as partisan attempts to find critics of Trump and Musk to remove them from federal positions. - Cheryl Warner, a NASA spokesperson, confirmed the agency received an unprecedented amount of open record requests from the Heritage Foundation. - The Heritage Foundation has filed over 192 open records requests with NASA, seeking employee communications that reference Musk or his companies, including Tesla and SpaceX. - The foundation has also filed information requests with federal law enforcement agencies to ensure Musk is not mistreated by the government.

Elon Musk says Donald Trump didn't ask for money when their paths crossed during a breakfast meeting at a friend's house

Business Insider

Business Insider · 1y ago

Elon Musk says Donald Trump didn't ask for money when their paths crossed during a breakfast meeting at a friend's house

Elon Musk denied that Donald Trump approached him for campaign donations during their recent meeting in Florida. Musk clarified that the encounter was a chance meeting at a breakfast and Trump did most of the talking. Musk also stated that Trump didn't ask him for any financial support, including paying his legal bills. While Musk mentioned he may endorse a candidate closer to the election, he expressed his reluctance to contribute financially and jokingly mentioned leaning away from supporting Joe Biden.

How Musk's clout with Trump could enrich his companies

Economic Times

Economic Times · 9m ago

How Musk's clout with Trump could enrich his companies

Elon Musk's support for Donald Trump's re-election has garnered him significant influence in shaping favorable government treatment for his companies. Musk contributed over $119 million to a pro-Trump spending group, aiming to reduce regulations and secure government support for Tesla, SpaceX, and Neuralink. His involvement in politics marks a shift from his previous focus on fighting climate change to championing a libertarian movement. Musk's growing power has excited fans and backers, while critics warn of potential consequences. His influence could impact policies governing electric vehicles, autonomous vehicles, and space exploration.

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