The report, published Monday by the Democratic staff for the Senate Homeland Security permanent subcommittee on investigations, found Musk and his companies faced at least 65 “actual or potential” actions from 11 federal agencies.
These actions could involve at least $2.37 billion in potential liability, as of Inauguration Day, the PSI report stated.
“The nature of Mr. Musk’s businesses, as well as their substantial earnings from government contracts, mean that he is deeply entangled in the regulatory functions of the government he is now empowered to shape,” the report stated.
“President Trump could not have chosen a person more prone to conflicts of interest.”
Musk is leading Trump’s so-called Department of Government Efficiency (DOGE) cost-cutting initiative, which has led to mass layoffs or program spending cuts at numerous federal agencies.
The report claims to reveal the “vast risk Mr. Musk and his companies previously faced and may yet avoid as a result of his newfound influence.”
The billions in potential liabilities stem from actions against his electric vehicle manufacturing company Tesla, aerospace firm SpaceX, Neuralink, his neurotechnology company and construction firm The Boring Company.
Some of the agencies behind the regulatory actions are the same ones facing cuts and drastic changes as a result of DOGE, the lawmakers pointed out.
Read more in a full report at TheHill.com
