In an effort to slash government spending, President Trump has asked the world’s richest man, Tesla CEO Elon Musk, to lead his Department of Government Efficiency (DOGE). In turn, Musk and his team have spent the first few weeks of Trump’s second term waging a largely unchecked war on the federal bureaucracy.

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.