Elon Musk's Department of Government Efficiency (Doge) - set up to cut US government spending - claims to have saved, on average, more than $10bn a week since President Trump entered office. "We're talking about almost $200bn and rising fast," Trump told the BBC when talking about Mr Musk's cost-cutting drive on 23 April.

Elon Musk’s XAI Holdings is in talks with investors to raise roughly $20 billion in funding for his newly combined artificial intelligence startup and social media business, according to people familiar with the matter.