Official SEC announcements or reports

Elizabeth Warren Demands Ethics Rules for Elon Musk, DOGE Co-Chair, Amid $250M Donation, Tesla Stock Surge

Dec 17, 2024, 07:38 PM

Senator Elizabeth Warren has called on President-elect Donald Trump to implement strict conflict-of-interest rules for Elon Musk, who has been appointed as co-chair of the Department of Government Efficiency (DOGE) in the Trump-Vance transition team. Warren expressed concerns over Musk’s significant private interests, including his roles as CEO of Tesla and SpaceX, which have substantial dealings with the federal government. She warned that Musk’s position could lead to corruption on an unprecedented scale without clear ethics standards. In her letter, Warren questioned whether Musk would recuse himself from matters involving his companies and whether he would comply with the ethics policy outlined for the transition team. Musk’s net worth has increased significantly since the election, with a $250 million campaign donation and a Tesla stock surge earning him $70 billion. The NHTSA has opened investigations into Tesla, while the SEC is probing Musk’s business dealings. Trump’s spokesperson, Karoline Leavitt, dismissed Warren’s concerns, referring to her as "Pocahontas" and asserting that the transition team would adhere to high ethical standards. Musk’s close relationship with Trump and his substantial financial contributions to the campaign have further fueled scrutiny. Warren has requested answers regarding Musk’s compliance with ethics guidelines and his influence over government contracts and regulations.