Tesla and SpaceX CEO Elon Musk was named co-head of the new Department of Government Efficiency by President-elect Donald Trump and will be tasked with finding waste in the federal budget. Musk’s companies are not only huge beneficiaries of federal contracts but also the target of many regulatory agency investigations. The world’s richest man could now be in charge of recommending budget cuts for the agencies that not only deal with his businesses but also regulate them, giving him power to make recommendations on both contract opportunities and regulation. Brian Tyler Cohen breaks it down.
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