Elon Musk Takeovers US Treasury Payments System

In a move that has sent shockwaves through Washington, billionaire Elon Musk and his team have reportedly taken control of the U.S. Treasury Department’s payments system—an essential infrastructure that processes trillions of dollars annually.

This unprecedented shift comes as part of President Donald Trump’s federal cost-cutting initiative under the newly created Department of Government Efficiency (DOGE), which Musk has been leading.

Musk, the world’s richest person, has positioned himself as a champion of eliminating wasteful government spending. Over the weekend, he took to X (formerly Twitter) to praise the initiative, stating that corruption and inefficiency were being “rooted out in real-time.”

His involvement in federal finances became even more evident when he responded to a post about payments to Lutheran charities, claiming that DOGE was “rapidly shutting down these illegal payments.”

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The payments system under Musk’s influence manages more than $6 trillion annually, handling everything from Social Security and Medicare disbursements to federal employee salaries.

Critics warn that this system is a crucial pillar of the U.S. financial infrastructure—one that should remain under the strict oversight of career officials, not billionaire entrepreneurs.

According to The Washington Post, Musk’s control of the payments system was made possible by newly appointed Treasury Secretary Scott Bessent. The transition was expedited when a career Treasury official, who refused to grant Musk’s team access, was placed on administrative leave. That official later retired.

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Adding to the controversy, Wired reported that Musk’s young surrogates—ranging in age from 19 to 24—have been placed in key government positions, including at the federal Office of Personnel Management (OPM).

The OPM, which functions as the HR department for government employees, recently sent out an email offering most federal workers the option to leave immediately with nine months’ severance pay. This has fueled concerns that the administration is pushing out experienced professionals in favor of political appointees loyal to Musk and DOGE.

While Trump has praised Musk as “a big cost-cutter,” noting that the administration may not always agree with his decisions, Democratic lawmakers have sounded the alarm.

Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, issued a scathing letter to Treasury Secretary Bessent, calling the move “extraordinarily dangerous.”

She warned that granting an unelected billionaire and his unqualified team access to the Treasury’s financial systems not only compromises millions of Americans’ private data but also increases the risk of economic instability.

“Sidelining experienced officials in such a critical department,” Warren wrote, “puts the country at greater risk of defaulting on our debt—an event that could trigger a global financial crisis.”