“How do they have 20 million making 200K?”: Musk takes suspiciously wealthy lawmakers to task

Elon Musk has suggested that he is uncovering evidence of fraud in the United States’ Congress as he asks why lawmakers with relatively modest salaries have amassed net worth of $20 million.

The comments were made at a public appearance that Musk, the head of the Department of Government Efficiency (DOGE), made in Wisconsin recently. Although Musk’s ‘department’ has no formal founding he has been given a wide brief within the Trump administration. His latest focus appears to be congressional earnings.

“How’d they get $20 million if they’re earning $200,000 a year? Nobody can explain that,” Musk said at an appearance at a town hall in Wisconsin. “We’re going to try to figure it out, and certainly stop it from happening.”

Why are some lawmakers in the US so wealthy?

At one point in the Wisconsin appearance an audience member asked whether there was evidence of the U.S. Agency for International Development (USAID) being used to send money to “any of the radical left Democrats.”

Despite offering no evidence, Musk replied: “They’ll send the money overseas to one NGO, then they’ll go through a bunch of them... and I’m highly confident that a bunch of that money then comes back to the United States and lands in the pockets of the people you just mentioned.”

In many cases, lawmakers with large personal fortunes have been the beneficiaries of highly profitable stock trading. But their proximity to legislative and governmental decision-making makes this practice highly controversial.

Chris Josephs co-founded the stock-tracking app Autopilot which also monitors the trades made by member of Congress, finding that their returns are well above that of the average investor. Josephs explained that politicians trades are often hidden, but their family members often make highly lucrative trades.

He told Fox & Friends: “There isn’t too much that you can really see on the actual stock trading side [for politicians]. However, there is not much that you can really see into the spouses and dependents... If I were Elon and recommend where to look for the suspicious stuff going on here, I would go right to the spouses and especially the children as well.”

Lawmakers on both sides of the aisle appear to have made huge profits in the stock market but there is a growing consensus calling for more controls to be placed on politicians’ trading activities. Last December then-President Joe Biden reiterated his calls for a ban on Congressional trading, saying: “Nobody in the Congress should be able to make money in the stock market while they’re in the Congress.”

Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all.

Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.