February 3, 2025 - Elon Musk, CEO of Tesla and SpaceX, has assumed control of the US Treasury Department's payments system, which oversees trillions of dollars in transactions annually. This move is part of his role in President Donald Trump's cost-cutting initiative, the Department of Government Efficiency (DOGE).
Musk announced on X, the social media platform he owns, that efforts are underway to eliminate corruption and waste. He specifically mentioned that DOGE is working to halt illegal payments, following allegations regarding funds directed to Lutheran charities.
The Treasury's payments system is critical, managing approximately $6 trillion each year for programs like Social Security and Medicare. Musk's access was sanctioned by incoming Treasury Secretary Scott Bessent, following the administrative leave of a career official who resisted the transition.
Trump praised Musk's cost-cutting measures, although concerns have been raised by Democratic lawmakers regarding the implications of political operatives accessing government financial systems. Senator Elizabeth Warren criticized the decision, calling it 'extraordinarily dangerous' and warning of potential risks to the economy.
Musk's team has reportedly placed young aides in key government roles, gaining unprecedented access to sensitive financial systems, raising alarms about the management of taxpayer funds.