The Democrats are hoping to regain congressional power in November’s midterm elections, and doing so means they could potentially launch investigations into the world’s richest man.
From his role in the Trump administration to the growing influence of SpaceX [NASDAQ: SPCX] and Tesla [NASDAQ: TSLA], Democrats have long been eyeing Elon Musk and his vast business network and, according to Politico, the list of possible investigations into Musk is growing.
The billionaire appears to be getting ahead of the potential probes, vowing retribution against any Democrat who takes action against him.
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“Live by the sword, die by the sword,” Musk wrote on X, replying to a post featuring Politico’s article. “Those who pick fights with me should understand that I will find out who is really pulling the strings and come for them, not just their puppets.”
According to Politico, Democrats are weighing investigations into Musk’s time leading the Department of Government Efficiency (DOGE) and his government contracts, as well as his alleged role in placing restrictions on SpaceX’s Starshield networks in Ukraine, which are used by the Ukrainian military.
Musk’s role in DOGE
DOGE was established within days of Trump’s inauguration, and Musk was tasked with heading the department that was meant to reign in alleged government overspending.
Politico is reporting that members of House Oversight and other panels are looking to examine Musk’s role in the department, which saw the removal of over 250,000 federal jobs and the dismantling of USAID.
The billionaire originally claimed DOGE would reduce government spending by $2 trillion, but later scaled it back to $1 trillion before saying it would save roughly $150 billion in the 2025 financial year. DOGE’s official government website claims it saved $215 billion, though critics have said the number is exaggerated.
Musk admitted in an Oct. 20 interview with “The Builders” podcast that he got “carried away” while working with the Trump administration, agreeing with the host that he appeared to get “too intoxicated” by his proximity to power.
“Yeah, I think that’s true,” said Musk. “I got carried away, basically.”
Still, Democrats are looking to hold Musk accountable for the damage they say he caused to government programs.
“Elon Musk and his DOGE cronies stirred up chaos, ruined careers and played a large role in illegal grant cancellations and firings of civil servants,” Rep. Zoe Lofgren of California, the top Democrat on the Space, Science and Technology Committee, said in a statement, according to Politico.
“He helped orchestrate the systematic destruction of government programs and services over the last nearly two years,” Lofgren said. “The sheer number of conflicts of interest are astounding.”
Rep. James Walkinshaw also responded to Musk’s threat of retribution. In a post on X, Walkinshaw said, “No swords or strings, @elonmusk. I’d just like you to explain to Congress and the American people why DOGE failed so miserably and why you then lied about the savings.”
He also asked the billionaire if he’ll agree to testify under oath.
According to Politico, other parts of Musk’s dealings with the Trump administration could also come under fire, including the billions of dollars in space contracts that SpaceX holds.
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Ukraine’s SpaceX access
Musk is also under scrutiny for allegedly restricting Ukraine’s use of SpaceX’s satellite communications network.
On Oct. 14, Ukrainian officials accused SpaceX of undermining its ability to defend itself after speed limits were suddenly imposed on Starshield, SpaceX’s military-grade satellites. The change cut internet connectivity to drones and aircrafts that Ukrainian forces were using in their fight against Russia.
According to the Wall Street Journal, Musk allegedly ordered the slowdown of the satellites — an allegation he denies. “Any limits on speed or usage are decided by the U.S. military and ultimately POTUS,” Musk posted on X.
Democrats have been eager to investigate Musk’s alleged role in the incident.
“What happens when one guy gets a giant contract from the government and then uses it to do something that shuts down communication in a war that has been extremely important to the United States to support Ukraine?” Rep. Pramila Jayapal told Politico.
Musk pours millions into the midterms
The Politico report comes as Musk pours millions into the midterm elections.
The billionaire is the largest individual political donor in modern U.S. history, as well as the largest Republican donor. According to the Washington Post, Musk-backed and Republican-aligned PACs have spent more than $400 million on midterm election ads funded in part by the hundreds of millions of dollars Musk has donated.
Tesla and SpaceX did not respond to Moneywise's request for comment in time for publication, and Musk did not reply to Politico’s request for comment.
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Rinna Diamantakos is a contributing editor at Moneywise.com. A versatile journalist, she has experience as a writer, editor and producer. Her work has focused on politics, business and financial news.
