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Conflicts of Interest Shroud Musk’s New ‘Cost Cutter’ Role – AP

Every business headed by Musk, including Tesla, SpaceX, Neuralink, social media platform X and artificial intelligence startup xAI has intersections with the federal US government


Elon Musk, Chief Executive Officer of SpaceX and Tesla
Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X looks on during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in US. Photo: Reuters

 

Elon Musk, recently appointed by US president-elect Donald Trump to head a new “Department of Government Efficiency”, would face several conflicts of interest as he takes on the new role, The Associated Press reported.

The AP report noted that every business headed by Musk, including Tesla, SpaceX, Neuralink, social media platform X, artificial intelligence startup xAI and even tunnel-building Boring company, has intersections with the federal US government.

And while mystery remains around how the ‘cost-cutter’ role will pan out — be it with Musk acting as a mere adviser to the Trump Administration or with his department being an actual government agency — the world’s richest man could now exert significant influence on US regulations, AP noted.

The US National Highway Traffic Safety Administration, for instance, has had several run-ins with Musk, including through investigations of Tesla’s autonomous driving claims. But, if as part of his ‘efficiency’ role Musk proposes significant cuts at the NHTSA, the agency’s entire role could be watered down to putting out “commercials reminding people to just wear their seat belts,” one expert told AP.

 

Read the full report: The Associated Press

 

  • Vishakha Saxena

 

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Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at [email protected]