Tech billionaire Elon Musk and his numerous companies could avoid more than $2.37 billion in potential legal liability as a result of his influential role in the federal government, a new Senate report alleges. <\/p>\n
The report<\/a>, 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 and at least $2.37 billion in potential liability as of Inauguration Day.<\/p>\n “The nature of Mr. Musk\u2019s 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.” <\/p>\n Musk is leading Trump’s Department of Government Efficiency (DOGE) cost-cutting initiative, which has led to mass layoffs or program spending cuts at numerous federal agencies.<\/p>\n The subcommittee said it conducted a probe of the 65 actions to “understand the financial impact of President Trump’s delegation of power on potential liabilities and scrutiny” facing Musk and his companies. <\/p>\n “The goal of this analysis is to estimate the financial liability that Mr. Musk and his 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.”<\/p>\n The billions in potential liabilities stem from actions against his electric vehicle manufacturing company Tesla, aerospace firm SpaceX and Neuralink, his neurotechnology company. <\/p>\n Neuralink and Tesla are accused of making false or misleading statements about some of their product features, while SpaceX allegedly failed to follow rocket launch requirements in 2023, according to the report. <\/p>\n Neuralink is also facing action for allegedly violating the Animal Welfare Act, while Musk’s construction firm the Boring Company faces citations from the Occupational Safety and Health Administration.<\/p>\n The Hill reached out to the four companies for comment. <\/p>\n 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. <\/p>\n “The through line connecting many of Mr. Musk\u2019s decisions appears to be self-enrichment and
companies may stand to avoid through his efforts to gut the federal workforce and exert
influence over federal agencies,” the report stated. <\/p>\n
avoiding what he perceives as obstacles to advancing his interests,” the memo stated. “Mr. Musk\u2019s position may allow him to evade oversight, derail investigations, and make litigation disappear whenever he so chooses\u2014on his terms and at his command.”<\/p>\n