The real state of Elon Musk: what lies behind the numbers?

Elon Musk, now holding significant influence over federal structures in the USA, is not required to disclose information about his assets or potential conflicts of interest, unlike members of the cabinet. This is due to his appointment as a special government employee (SGE), which allows him to maintain the confidentiality of financial data that other high-ranking officials must disclose.

The Influence of Musk on the American Government

In a short period, Musk became one of the most influential figures in the US government. He initiated a number of significant actions, including an appeal to federal employees with a proposal for early retirement and attempts to reform some government agencies.

Initially, Musk's authority for such actions was unclear. However, the White House confirmed his SGE status, which allows him to perform duties without publicly disclosing personal finances, unlike other high-ranking officials.

Under American law, government officials are required to disclose information about their personal finances to prevent conflicts of interest. However, SGE only fill out the confidential OGE Form 450, which is available only to the White House and the Office of Government Ethics (OGE).

This has raised concerns among ethics experts. Richard Painter, a former White House ethics advisor, noted that Musk is an atypical case of SGE given the scale of his influence on federal bureaucracy.

Musk's Financial Position and Potential Conflicts of Interest

Musk's net worth is estimated at approximately 420 billion dollars ( as of February 2025 ). The bulk of his assets is concentrated in Tesla stock and private companies such as SpaceX, X, xAI, Neuralink, and The Boring Company. All these enterprises are in one way or another connected to the US government:

SpaceX receives large federal contracts and collaborates with various government agencies.

Tesla has significant interests in China, which may influence foreign policy decisions.

Musk also has significant liquid assets and has large bank liabilities secured by Tesla shares. This creates the potential for numerous conflicts of interest that are not subject to public oversight.

U.S. legislation requires all SGEs to submit financial reports to identify potential conflicts of interest. However, there is no confirmation that Musk has provided such a document. The White House issued a general statement about Musk's "selfless service" to the administration, while the OGE declined to comment.

Don Fox, former acting director of government ethics, expressed doubt that Musk will actually file financial reports. "Given the scale of Musk's wealth, identifying all possible conflicts of interest is practically impossible," he noted, adding that the current administration is likely not interested in a thorough examination of his finances.