Elon Musk's ties to the Trump administration pose potential conflicts of inteterest for his various businesses that have extensive contracts with the federal government.

The head of Tesla, SpaceX and the X social media site once known as Twitter has strengthened his ties to the Silver State over the years.

Choosing billionaire Elon Musk to be what President-elect Donald Trump calls “our cost cutter” for the U.S. government, is not the first time an American president has empowered a business tycoon to look for ways to dramatically cut federal regulations.