https://apnews.com/article/trump-elon-musk-doge-tesla-spacex-80fa8b213b46460b1a0e369dc07a6404

In picking billionaire Elon Musk to be “our cost cutter” for the U.S. government, President-elect Donald Trump won't be the first American president to empower a business tycoon to look for ways to dramatically cut federal regulations.

President Ronald Reagan tapped J. Peter Grace to lead a bureaucratic cost-cutting commission in 1982. Still, the chemical business magnate had fewer conflicts of interest than the world's richest man does today.