Elon Musk Refutes Rumors Of Buying Property Near Donald Trump's Mar-A-Lago: 'I'm Not Buying Or Building A House Anywhere'

Elon Musk has dismissed rumors suggesting he is purchasing property close to Donald Trump‘s Mar-a-Lago estate. The speculation emerged on Thursday when DogeDesigner posted a headline that said Musk was involved in a real estate transaction near the former president’s Florida residence.

What Happened: Musk responded directly to the post, stating, “I'm not buying or building a house anywhere.”

The post from DogeDesigner included a note that readers had added context to the claim, which was subsequently denied by Musk.

Musk’s denial comes amid his involvement in various high-profile initiatives, including recently being announced by President-elect Trump to co-lead the Department of Government Efficiency (DOGE) with Vivek Ramaswamy.

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Why It Matters: Musk’s denial of the property purchase near Mar-a-Lago is significant given his current role in the newly established Department of Government Efficiency. This department, formed by President-elect Trump, aims to identify and implement cost-cutting measures to reduce federal spending by up to $2 trillion. Musk, along with Ramaswamy, is spearheading this initiative, tapping into the expertise of Silicon Valley leaders to achieve these goals. 

Despite the ambitious objectives, analysts like Mario Georgiou have expressed skepticism about the potential impact of DOGE, estimating savings of $50–100 billion annually, which would have a limited effect on the overall federal budget. The U.S. federal deficit is projected to reach $1.7 trillion in 2024, with mandatory spending on programs like Social Security and Medicare accounting for a significant portion of expenditures.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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