Topline
Former President Donald Trump on Thursday backed a government efficiency commission proposed by Elon Musk, as he unveiled his economic plan in a speech in New York, and said the world’s richest person has already agreed to lead the commission under a Trump administration if the former president wins the election in November.
Donald Trump and Elon Musk’s X accounts.
NurPhoto via Getty Images
Key Facts
Trump on Tuesday said if he wins reelection he will “create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government,” adding that Musk has agreed to head the task force.
The news comes a month after Musk first brought up the idea for a commission that would ensure “taxpayer’s money… is spent in a good way” during a conversation with the former president in August, which was live streamed on X, formerly known as Twitter.
In the same conversation, Trump signaled his willingness to offer Musk a “government efficiency” role in his next administration.
On Tuesday, Musk responded to a tweet about a Washington Post report that Trump is considering him for a role in auditing U.S. agencies and identifying government programs to cut, saying he “can’t wait” and that there is “a lot of waste and needless regulation in government that needs to go.”
Whether or not Musk would actually be given a role in a Trump administration remains to be seen, but both men have commented on the possibility several times in the last few months.
In May, Musk denied reports he was being considered for a White House advisory role related to border security or the economy, posting to his social media platform X that there had not been “any discussions of a role.”
In late August, however, Trump said he would “absolutely” put Musk in his cabinet but that the business mogul likely wouldn’t have the time to serve in such a position, suggesting Musk could instead “consult with the country and give you some very good ideas.”
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Contra
It’s unlikely Musk would be able to serve in a public position due to his vast private business interests. Entrepreneurs looking to take government jobs usually divest their shares and holdings to avoid conflicts of interest, but Musk is unlikely to be able to divest his massive stakes in companies like Tesla, SpaceX and X without causing major disruption. And, because his business interests touch so many sectors, he’d likely find himself forced to recuse regularly to avoid the appearance of any conflict.
Tangent
Trump was often criticized in his presidency for his own conflicts of interest after deciding not to divest his business empire before entering public office. The ethics watchdog group Citizens for Responsibility and Ethics in Washington says he committed more than 3,400 violations while in office, including visits by foreign officials and political events held at Trump-owned properties, dozens of foreign trademarks granted to Trump businesses and more than 100 events by special interest groups held at Trump properties. A report from American Public Media found that more than half of Trump’s 20-person Cabinet during his presidency had engaged in “questionable or unethical conduct,” including in relation to their business holdings and investments.
Key Background
The relationship between Musk and Trump has not always been an amicable one. In the leadup to the 2016 election, Musk said Trump was “not the right guy” to be president before going on to join—and later quit—two of the president’s business-advisory councils. In 2022, when Musk was attempting to buy Twitter, Trump called him a “bullshit artist.” He said Musk would never be able to buy Twitter, and said Musk claimed he’d never voted for a republican after privately telling Trump he voted for him before. In response, Musk said it was “time for Trump to hang up his hat & sail into the sunset.” At the time, he said Trump was too old to run for the presidency again in 2024 and said he was supporting Florida Gov. Ron DeSantis. That same year, Musk reinstated Trump’s previously banned Twitter account. The two have been linked a few times since—the New York Times reported the pair met in March and the Washington Post reported they’d discussed a potential buyout of the Truth Social platform last year—and in July of this year, Musk endorsed Trump for the presidency. Since then, Trump returned to Twitter for a live interview, Musk has repeatedly attacked his opponent Vice President Kamala Harris and Musk claimed he helped start the pro-Trump America PAC.
Forbes Valuation
Musk, who founded Tesla, SpaceX and other companies, is ranked as the richest person in the world as of Thursday with an estimated net worth of $252.6 billion, more than $50 billion more than Amazon founder Jeff Bezos, the second-richest person. Trump has an estimated $$3.9 billion net worth as of Thursday thanks to his stakes in Truth Social’s parent company, the Trump Media and Technology Group, his real estate investments and other assets.
Further Reading
