Elon Musk says he and Trump have 'mandate to delete' regulations. Ethics laws could limit Musk role
Choosing billionaire Elon Musk to be what President-elect Donald Trump calls "our cost cutter" for the U.S. government, is not the first time an American president has empowered a business tycoon to look for ways to dramatically cut federal regulations. Former President Ronald Reagan tapped J. Peter Grace to lead a bureaucratic cost-cutting commission in 1982. But the chemical business magnate had fewer conflicts of interest than the world's richest man does today. Musk's SpaceX holds billions of dollars in NASA contracts. His Tesla electric car business benefits from government tax incentives and is subject to auto safety rules. His social media platform X, artificial intelligence startup xAI and other business interests all intersect with the federal government in various ways.