Evidently Elon Musk’s friendship with President Donald Trump and authorities cost-cutting job has already saved a boatload of cash ― for him.
Only a month into the second Trump administration, Musk has overseen the slashing of 1000’s of presidency jobs by way of his so-called Division of Authorities Effectivity. That reportedly consists of jobs at businesses in command of investigating and regulating the a number of companies which have made him the richest particular person on the planet.
Right here’s how else Musk is benefiting.
He has DOGE going after businesses that regulate his firms.
Information reviews this week shared that Musk’s DOGE is making enormous cuts to federal authorities groups regulating two of his companies, Tesla and Neuralink.
Sources advised Reuters on Tuesday that final weekend, DOGE oversaw the firing of Meals and Drug Administration staff reviewing Neuralink, Musk’s mind implant firm. The cuts have been reportedly made to a division that oversees medical trial functions from Neuralink and different brain-computer interface units.
The Washington Post additionally reported Thursday that DOGE made cuts to a specialised unit with the Nationwide Freeway Visitors Security Administration targeted on overseeing the security of autonomous autos like these made at Tesla. The fired staff embrace an engineer who labored with crash take a look at dummies and a analysis psychologist who makes a speciality of drunken driving and dashing.
“If the query is, will this have an effect on the federal authorities’s capacity to know the security case behind Tesla’s autos, then sure, it is going to,” one fired engineer advised the Put up. “The quantity of individuals within the federal authorities who’re in a position to perceive this adequately may be very small. Now it’s virtually nonexistent.”
SAUL LOEB/AFP through Getty Photos
A evaluate by The New York Times earlier this month discovered that the federal businesses DOGE has been dismantling have dozens of constant investigations, pending complaints or enforcement actions into Musk’s six firms.
That features 24 investigations alone from the Nationwide Labor Relations Board and a lawsuit from the Securities and Trade Fee arguing that Musk owes the federal authorities as much as $150 million.
DOGE has additionally primarily shut down the Shopper Monetary Safety Bureau, which was evaluating a whole bunch of complaints about Tesla, together with many about debt assortment and mortgage issues.
The Justice Division is dropping an immigration case towards SpaceX.
The Justice Division mentioned Thursday it’s dropping a case it had introduced towards SpaceX accusing the corporate of refusing to hire certain immigrants.
DOJ’s 2023 criticism alleged that from 2018 to 2022, SpaceX blocked asylum recipients and refugees from jobs by saying in job postings and public statements that it may solely rent U.S. residents and lawful everlasting residents due to U.S. export management legal guidelines.
DOJ mentioned it was dismissing the case with prejudice, that means the costs can’t be introduced once more.
He could also be strong-arming advertisers to spend on X.
The Wall Street Journal reported Wednesday that legal professionals for X, the Musk-owned social media platform previously referred to as Twitter, have been pressuring promoting conglomerate Interpublic Group to get its shoppers to spend extra promoting {dollars} on X.
Interpublic leaders, the Journal reported, have interpreted the strain as a warning {that a} not too long ago introduced $13 billion deal merging Interpublic with rival Omnicom Group may very well be sabotaged by the Trump administration.
Musk has additionally been extremely essential of firms that stopped promoting on X after he purchased it.
“If someone’s going to attempt to blackmail me with promoting? Blackmail me with cash? Go fuck your self. Go. Fuck. Your self. Is that clear?” Musk said at New York’s DealBook Summit in November 2023.
CORRECTION: This text has been amended to make clear the standing of the DOJ case towards SpaceX.
