Elizabeth Warren claims Musk enriched himself to the tune of $100B during his time in the White House

Independent

05-06-2025

Senator Elizabeth Warren has accused Elon Musk of using his role in the Donald Trump administration to increase his net worth by $100 billion, issuing a report that cites more than 100 instances in which he might have benefited financially from his position.
The world's richest man's 130-day tenure as a special government employee came to an end on Friday, drawing a line under a chaotic four months in which he led DOGE in its mission to cut excess spending, waste, and fraud and oversaw the mass firing of tens of thousands of federal employees.
Senator Warren has greeted his departure from the political scene with the publication of a new report alleging large-scale profiteering during his time in Washington, entitled: Special Interests Over the Public Interest: Elon Musk's 130 Days in the Trump Administration.
'Before Trump took office, Musk's companies faced at least $2.37bn in potential liability from pending agency enforcement actions,' her report states. 'Now many of those enforcement actions have stalled or been dismissed.'
She continues: 'Musk's companies have received or are being considered for large contracts with the federal government, with foreign governments, and with other private sector companies.
'Musk and individuals acting on his behalf have been involved in dozens of questionable actions that raise questions about corruption, ethics, and conflicts of interest.'
Once an enthusiastic Trump supporter who poured $288m into the Republican's presidential campaign last year, Musk has since cut a disgruntled and beleaguered figure, angrily attacking the president's 'big beautiful bill' as a 'disgusting abomination' as it makes its way through the Senate, winning the support of conservative fiscal hawks in the process.
Warren makes clear that not all of the instances she goes on to cite constitute lawbreaking but argues that Musk 'violated norms at an astonishing pace' and, in some cases, 'engaged in action that may have violated the statutory prohibition regarding federal employees' participation in particular matters in which a government official has a financial interest.'
Her report lists 130 alleged offences in total, one for every day he served, some of which occurred in plain sight, notably Trump using the White House lawn as a showroom forecourt from which to promote Musk's Tesla electric vehicle range and Commerce Secretary Howard Lutnick advising Fox News viewers to invest in Tesla stock during an interview with Jesse Watters.
Warren also gives behind the scenes examples of conduct she argues might have benefited the billionaire, including his recommending changes at Nasa to suit SpaceX and alleged attempts to convince federal agencies to use his Starlink satellite technology, a rejection of which has been mooted as one of the central reasons for Musk's relationship with Trump beginning to disintegrate.