Fact Check: While Elon worked at Doge he confiscated $16 trillion from the US treasury department to bail out his companies. His net worth should now be $16 trillion

Claim Analysis: Elon Musk and the $16 Trillion Treasury Confiscation

1. Introduction

The claim circulating in various media outlets suggests that Elon Musk, while associated with the Department of Government Efficiency (DOGE), confiscated $16 trillion from the U.S. Treasury Department to bail out his companies. It further posits that Musk's net worth should now be $16 trillion as a result. This assertion raises significant questions regarding its veracity, especially given the astronomical figures involved and the implications for U.S. fiscal policy.

2. What We Know

• DOGE and Treasury Access: Reports indicate that DOGE, led by Musk, was granted access to the U.S. Treasury's payment systems. This access has been controversial, with a federal judge extending an order to block DOGE from these systems due to concerns about transparency and accountability 46.

• Claims of Savings: Musk and DOGE have claimed to have identified billions in wasteful government contracts, with some sources suggesting that they found $4.7 trillion in untraceable Treasury payments lacking proper tracking codes 58. However, the reliability of these claims is questionable, as analyses from reputable sources like the Wall Street Journal have indicated that many of these savings claims are overstated 7.

• Treasury Disbursements: The U.S. Treasury is responsible for disbursing nearly $6 trillion annually, which has led to significant scrutiny regarding any claims of mismanagement or inefficiency 3.

• Legal and Regulatory Context: The legal framework surrounding DOGE's access to Treasury systems has been contentious. The U.S. Treasury and White House officials have denied that DOGE technologists had the ability to make significant changes to payment systems, which raises further doubts about the legitimacy of the claims being made 10.

3. Analysis

Source Evaluation

• NPR: NPR is a reputable news organization known for its journalistic standards. The article discusses the lack of transparency in savings claims but does not support the $16 trillion confiscation assertion 1.

• Snopes: Snopes is a well-regarded fact-checking website that provides a detailed breakdown of claims. Their analysis of Musk's access to Treasury systems suggests that the narrative around confiscation is exaggerated 2.

• Fortune: This source provides context on the Treasury's payment system but does not corroborate the claim of confiscation 3.

• Independent: The Independent reports on the $4.7 trillion claim but does not provide evidence that this amount was confiscated or misappropriated 5.

• Wall Street Journal: The WSJ's analysis suggests that claims of savings attributed to DOGE are inflated, indicating a potential bias in the reporting of these figures 7.

• CBS News and Wired: Both sources highlight the legal challenges and the Treasury's denial of significant access by DOGE, which casts doubt on the feasibility of the claims made 910.

Methodological Concerns

The claim of a $16 trillion confiscation lacks credible evidence and relies heavily on sensationalized interpretations of access to Treasury data and alleged savings. The methodology behind the claims of savings and the supposed confiscation is not transparent, and the figures cited are not supported by independent verification.

Conflicts of Interest

Given Musk's prominent role in both DOGE and his private companies, there is a potential conflict of interest that could bias the claims made about financial dealings with the Treasury. The involvement of political figures, such as President Trump, further complicates the narrative, as political agendas may influence the portrayal of these events.

4. Conclusion

Verdict: False

The claim that Elon Musk confiscated $16 trillion from the U.S. Treasury is unsupported by credible evidence. Key sources, including NPR and Snopes, have indicated that the narrative surrounding this claim is exaggerated and lacks verification. Furthermore, the U.S. Treasury has denied that DOGE had significant access to its payment systems, further undermining the assertion of confiscation.

While Musk and DOGE have made claims regarding savings from government contracts, these figures have been challenged by reputable analyses, suggesting they may be inflated. It is important to recognize that sensational claims can often overshadow the complexities of financial and governmental operations.

However, it is crucial to acknowledge the limitations in the available evidence. The situation is fluid, and new information could emerge that might alter the understanding of these events. Readers are encouraged to critically evaluate information and consider multiple perspectives before drawing conclusions.

5. Sources

1. NPR. "Musk claims DOGE saves taxpayers billions, but data is unclear." https://www.npr.org/2025/02/11/nx-s1-5290288/doge-savings-billions-contracts-musk-trump
2. Snopes. "Unpacking claims that Elon Musk and his DOGE team secured access to Treasury payment systems." https://www.snopes.com/news/2025/02/04/doge-musk-treasury/
3. Fortune. "Giving Elon Musk's DOGE access to the Treasury payment system." https://fortune.com/2025/02/03/elon-musk-doge-treasury-payment-system-us-debt-default-global-financial-crisis-warren-bessent/
4. Nebraska Examiner. "Federal judge extends order blocking Musk and DOGE from Treasury payment systems." https://nebraskaexaminer.com/2025/02/15/repub/federal-judge-extends-order-blocking-musk-and-doge-from-treasury-payment-systems/
5. Independent. "DOGE claims it found $4.7 trillion in Treasury payments that are untraceable." https://www.independent.co.uk/news/world/americas/us-politics/doge-4-7t-treasury-payments-untraceable-b2700115.html
6. Seeking Alpha. "Elon Musk's DOGE gains access to Treasury Department's payments system." https://seekingalpha.com/news/4401711-elon-musks-doge-gains-access-to-treasury-departments-payments-system-nyt
7. Wall Street Journal. "DOGE claims it has saved billions. See where." https://www.wsj.com/politics/policy/elon-musk-doge-federal-savings-claims-783b9507
8. Economic Times. "Massive Treasury error: DOGE blows the whistle." https://m.economictimes.com/news/international/us/massive-treasury-error-doge-blows-the-whistle-uncovers-4-7-trillion-mystery-in-payments-that-lack-traceability/articleshow/118362275.cms
9. CBS News. "DOGE task force gains access to U.S. Treasury Department." https://www.cbsnews.com/news/data-access-elon-musks-doge-us-treasury-lebryk/
10. Wired. "The US Treasury Claimed DOGE Technologist Didn’t Have ‘Write’ Access." https://www.wired.com/story/treasury-department-doge-marko-elez-access/