Trump Backs Musk’s ‘Commission on Government Efficiency’

Top line

Former President Donald Trump announced Thursday that he will implement Tesla CEO Elon Musk’s recommendation to create a new commission to look at ways to curb wasteful government spending if he is elected to a second term. Musk has agreed to head the commission, the latest development in the Trump-Musk alliance.

Elon Musk seen speaking to Israeli Prime Minister Benjamin Netanyahu at a joint meeting … (+) Congress in the House of Representatives at the U.S. Capitol, Wednesday, July 24, 2024. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

CQ-Roll Call, Inc. via Getty Images

Key facts

The commission will be tasked with “conducting a complete financial and performance audit of the entire federal government” and making “recommendations for drastic reforms,” Trump said in his Thursday speech at the Economic Club of New York.

Musk has agreed to head the commission, Trump said — and while Musk has not commented on the matter since Trump’s speech on Thursday, he has said repeatedly in the past that he would be open to serving on the commission.

Trump said the group’s first task will be to develop a plan that would “completely eliminate fraud and improper payments within six months.”

Musk has repeatedly raised the idea of such a commission, describing it as one that would ensure “taxpayer money… is spent in a good way,” and told Trump he would be “happy to help” during a live chat on X last month.

As The Washington Post reported earlier this week, Trump and his advisers have been discussing for months the creation of a group led by business executives to combat excess government spending.

In response to the Washington Post report, Musk wrote that he “can’t wait” and that “there’s a ton of waste and unnecessary regulation in government that needs to be cut” regarding the X.

What we don’t know

Whether Musk would be able to serve, given the potential conflicts of interest that could arise with his business ventures. Entrepreneurs who take on government jobs typically divest their stocks and holdings. Trump has expressed interest in giving Musk a Cabinet position but acknowledged the challenges, saying on The Shawn Ryan Show last week that he “want[s]to be involved, but look, he runs big companies and stuff… so he really can’t.”

Tangent

It’s typical for presidential candidates on both sides of the aisle to propose a wide range of cuts, and while neither Trump nor Musk have indicated which areas of government they want the commission to target for cuts, Trump cited Argentine President Javier Milei’s controversial government job cuts as an example during his interview with Musk on X, saying that Milei, who has praised Trump, is “doing really great.”

Key general information

Trump and Musk formed an alliance because Musk has moved to the right in recent years and has strongly opposed the Biden-Harris administration. Musk initially endorsed Florida Gov. Ron DeSantis for president in 2024, but backed Trump after an assassination attempt and helped found a pro-Trump super PAC, America PAC.

A surprising fact

The two haven’t always had a friendly relationship — Musk resigned from two of Trump’s business advisory boards during his White House tenure, shortly after Trump withdrew from the Paris climate accord. Musk also suggested in 2022 that Trump was too old to run for president again.

Forbes valuation

We estimate Musk’s net worth to be $253.6 billion, making him the richest person on Earth, largely thanks to his stakes in Tesla and SpaceX.