Since taking office for his second term, President Donald Trump has issued a number of orders which included establishing the Department of Government Efficiency, also known as DOGE. This program, led by Musk, has caused a stir by going through government programs to validate funding.

White House press secretary Karoline Leavitt said Elon Musk's conflicts of interest will be monitored and addressed by the Tesla CEO himself. The theory is likely to be tested as Musk's private companies like Tesla and SpaceX have reportedly been paid billions over the past decade for government work.

The electric-car maker, the main source of the mercurial billionaire’s wealth, is relying on China to stay profitable as sales sink elsewhere.