Elon Musk Calls for Investigation of Fed Spending on Headquarters Renovation

Elon Musk’s efficiency unit has sparked a controversy after questioning the Federal Reserve’s $2.5 billion spending on its headquarters renovation in Washington, D.C. This unexpected inquiry follows Musk’s comments inside the White House’s Roosevelt Room where he questioned the cost of such an expensive project and suggested reviewing federal spending practices. The project, which began in 2021, has seen costs soar due to inflation in construction materials and labor and currently stands at $2.5 billion. 2023 marked a significant shift for Musk as he announced his intention to focus more on Tesla following a decline in sales and stock price. His comments came just hours before the Wall Street Journal reported that Tesla’s board was working with a search firm to find its next CEO. This news was later refuted by Robyn Denholm, chair of Tesla, who denied the report as