The billionaire from the USA, Elon Musk, has taken control of the payment system of the Ministry of Finance of the USA, which manages deals worth trillions of dollars annually, causing backlash from critics. Elon Musk, the richest man in the world, leads efforts to reduce federal spending under President Donald Trump's administration, in what is referred to as the Ministry of Efficiency of Governance.
Musk wrote on the platform "X": "The only way to prevent fraud and financial mismanagement is to track the flow of spending and temporary suspension of underlying deals for verification." He added: "Naturally, this causes significant discomfort among those who are involved, benefiting from and receiving illegal payouts. This is very bad."
The payment system of the Ministry of Finance is subjected to strict control, as it manages the flow of funds of the US government, including six trillions of dollars annually, earmarked for social security, medical assistance, subsidies, and more.
Finance Minister Scott Persenet approved Musk's takeover of the payment system, representing accountability for its subsequent lapse last Friday after Musk denied access to the system, writes The Washington Post. Trump dismissed Musk's ability to reduce expenditures, saying: "Sometimes we don't agree with him and he doesn't go where he wants, but in my opinion, he does an excellent job."
Wired magazine reported that Musk replaced senior staff at the Ministry of Finance with younger ones. Last week, most employees received an electronic letter suggesting they leave government service altogether, receiving approximately nine months of severance pay, although many lawyers warned them against this proposal.
Democrats expressed deep concerns over the access of individuals like Musk and his employees to the Treasury Department, calling this an illegal takeover of power. Senator Ron Wyden stated: "They are seizing the means necessary to effectuate change."
Elizabet Warren, a leading Democrat on the Senate Banking Committee, noted that this action constitutes an "extraordinarily dangerous situation" and represents a systemic threat to the economy. In a letter to Persnet, she wrote: "I am concerned that under one of your first actions as minister, it seems you are transferring control over an extraordinarily sensitive data system belonging to a billionaire, unelected."
