Tech billionaire Elon Musk recently told investors he aims to take over key federal government services, likening it to a “corporate takeover.” During a meeting with Morgan Stanley, Musk stated that prioritizing privatization would be logical, including postal services like the US Postal Service and Amtrak. However, experts argue this could violate federal law.
The USPS is one of America’s oldest institutions, providing essential shipping services for trillions of dollars in commerce. Despite receiving no tax dollars for operating expenses, it has been targeted by President Trump in the past, who argued that dismantling the postal service would prevent voting by mail.
Meanwhile, Musk’s role in reducing federal spending has raised scrutiny, forcing Trump to appoint Amy Gleason instead of him as a high-profile administrator. However, Musk remains officially titled a “senior adviser” with no actual authority to make decisions.
A recent joint session address revealed Musk’s influence, as Trump acknowledged his involvement in running the Department of Government Efficiency (DOGE). While this title offers Musk no formal responsibilities, it suggests he is effectively leading DOGE despite being an unpaid employee. Musk’s experience acquiring X.com, a social media platform for $44 billion in 2022, has seen significant losses under his management, with some reports stating that the site has lost up to 90% of its value.
Source: https://finance.yahoo.com/news/elon-musk-reveals-next-targets-173323085.html