In Musk's Global Powerplay, Everything And Everywhere’s A Conflict

Forbes

Elon Musk’s political activities and foreign business interests have converged as he takes center stage in the second Trump administration.  Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2025/02/14/in-musks-global-powerplay-everything-and-everywheres-a-conflict/  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00Today on Forbes, in Musk's global power play, everything and everywhere's a conflict.

00:08Just after midnight in the wee hours of last Thursday morning, Elon Musk videoconferenced

00:13in from Washington D.C. to Dubai's World Government Summit to pitch his Department

00:18of Government Efficiency effort to a gathering of global leaders.

00:22Musk, clad in a t-shirt that said tech support, said, quote,

00:27We do need to delete entire agencies.

00:30Before the event wrapped, Musk and Omar al-Olama, the Minister of Artificial Intelligence for

00:36the United Arab Emirates, announced that Musk's tunnel startup, The Boring Company, would

00:41be building one of its underground loops in Dubai for an undisclosed cost.

00:46Al-Olama said, quote,

00:48It is going to cover Dubai's most densely populated area for people to go from point

00:53to point in a seamless manner.

00:55He said this despite the fact that The Boring Company's only existing tunnel, in which

01:00Tesla's ferry people around a conference center in Las Vegas, is beset by trespassers

01:05and minimal traffic.

01:08Later that day, Musk was meeting face-to-face in Washington with Indian Prime Minister

01:12Narendra Modi.

01:14Once again, the discussion was a mix of government cost-cutting and topics — space, mobility

01:19and technology — that intersect with Musk's business empire, as Modi later said on X.

01:25Starlink, Musk's satellite company, is seeking approval to provide wireless internet to India's

01:311.4 billion people.

01:35Musk occupies an unprecedented position.

01:37He's the world's wealthiest person with vast business interests around the globe, while

01:42simultaneously acting as a de facto number two in Donald Trump's administration with

01:47the power to shape critical U.S. budgetary matters and foreign policy.

01:51The potential for Musk to use his position to benefit his companies and enrich himself

01:55is endless, whether that's within the U.S. government or with foreign leaders, on whom

02:00he depends for regulatory approval and contracts.

02:04Now those leaders have another way to curry favor with President Trump — helping Musk

02:08and his companies.

02:10Don Fox, former acting director of the U.S. Office of Government Ethics under President

02:14Obama, says, quote,

02:16"...it appears that he's treating his position as the head of Doge as just one big business

02:21development opportunity.

02:23If he really was committed to being a public servant, he wouldn't be taking those kinds

02:26of meetings.

02:27What could possibly be his interest with government efficiency and meeting with those heads of

02:31government?"

02:33The reach of Musk's business empire is global.

02:36There are some 5 million Tesla cars on the road today, while Tesla controls over 60,000

02:42charging stations across 51 countries.

02:45It has gigafactories in Shanghai and Berlin, and a proposed plant in Mexico.

02:50Starlink, the satellite company operated by his rocket launch company SpaceX, provides

02:55Internet access in over 100 countries and territories around the world via its network

03:00of 7,000 low-orbit satellites.

03:03Other countries have contracts with Starlink to provide Internet, including Ukraine, or

03:08are in talks with Starlink about future deals.

03:11Known as social media company X, which has an estimated 415 million users across the

03:17world, according to Statista, Musk alternatively criticizes and praises foreign leaders and

03:22political parties, while controlling the algorithm that elevates some voices over others.

03:29In an emailed statement to Forbes, Senator Richard Blumenthal, Democrat of Connecticut,

03:33said, quote,

03:34"...Elon Musk is responsible for the biggest public corruption scandal ongoing in real

03:39time right before our eyes, holding personal business meetings with world leaders from

03:43the White House, controlling government agencies that provide contracts to his companies, and

03:48seizing government data that can give himself a leg up on his competitors.

03:52Mr. Musk's clear exploitation of his position in public office for self-enrichment cannot

03:57stand."

04:00Musk may have other foreign investments that remain a mystery.

04:03He has an estimated $9.5 billion in cash and other investments from previous sales of his

04:08Tesla shares.

04:10Some of that money could now be in stocks or in shares of private foreign companies.

04:15As a special government employee, Musk only has to file a confidential financial disclosure

04:19form with the White House, which will likely not become public.

04:23In response to a question about conflicts of interest last week, Musk, speaking from

04:27the Oval Office last Tuesday, said that he would police himself.

04:32For full coverage, check out John Hyatt's piece on Forbes.com.

04:38This is Kieran Meadows from Forbes.

04:40Thanks for tuning in.

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