Elon Musk signaled his support for abolishing the Federal Reserve in a post on X last week, just days before Donald Trump announced the billionaire’s new ‘efficiency’ role under his government.
The Tesla and SpaceX CEO shared a post by Republican Senator Mike Lee that called for an end to the United States’s central bank. Musk included a “100” emoji in the caption of his re-post on Friday.
“The Executive Branch should be under the direction of the president,” the Utah senator wrote. “That’s how the Constitution was designed.”
“The Federal Reserve is one of many examples of how we’ve deviated from the Constitution in that regard,” he continued. “Yet another reason why we should #EndTheFed.”
When asked about the post, Trump campaign spokesperson Karoline Leavitt told CNN on Tuesday that “policy should only be deemed official if it comes from President Trump directly.”
On Tuesday night, the president-elect announced Musk would join Vivek Ramaswamy as co-chair of the newly-created Department of Government Efficiency. The agency will also be known as DOGE, named after Musk’s favorite meme.
Trump said the duo “will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies — Essential to the ‘Save America’ Movement.”
The 47th president also compared the office to the Manhattan Project, which developed the world’s first atomic bombs.
“This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!” Musk said in a statement.
Musk was a key figure throughout Trump’s second presidential bid, launching the America PAC to support him. He joined Trump when he made his return to Butler, Pennsylvania last month after Thomas Crooks’ assassination attempt.
The billionaire also spoke at Trump’s recent Madison Square Garden rally, where he declared he intends to slash “at least $2 trillion” from the nation’s budget, or roughly by one-third.
The department “will provide advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before,” Trump wrote in his statement.
