Elon Musk, the world’s richest man, has reignited speculation about the US government’s gold reserves at Fort Knox, fueling decades-old conspiracy theories. The billionaire entrepreneur shared several social media posts questioning the existence and value of the reserve, calling for a “live video walkthrough” of the facility.
US President Donald Trump also weighed in on the debate, vowing to inspect the reserve and assure himself that the gold is still there. “If the gold isn’t there, we’re going to be very upset,” Trump said.
Despite Trump’s vow, there is no evidence to support theories about missing gold at Fort Knox. The facility holds approximately 147.3 million troy ounces of gold, valued at over $434 billion on the open market. However, the government values it at just $6 billion based on a book value of $42.22 per troy ounce.
Only three people have visited the Fort Knox depository in recent history: President Franklin D. Roosevelt in 1943, 10 Congress members in 1974, and a delegation led by Senator Mitch McConnell in 2017. The facility is notoriously secure, with multiple layers of protection to prevent unauthorized access.
Renewed public interest in US gold reserves comes as the precious metal has surged in value over the past year, with prices rising more than 40% on Wall Street. Investors are seeking safe-haven assets amidst inflation concerns and government debt.
Source: https://www.forbes.com/sites/dereksaul/2025/02/20/trump-joins-elon-musk-in-targeting-fort-knox-gold-what-we-know-about-its-400-billion-supply