Elon Musk was born in South Africa and has been tapped by US President-elect Donald Trump to lead the Department of Government Efficiency (DOGE), aimed at drastically slashing government spending.

Appearing on CNN, former White House official Anthony Scaramucci said Elon Musk was in a "perilous situation" with President-elect Donald Trump after some commentators began suggesting that the tech billionaire was the real incoming president.

Elon Musk, the billionaire tasked with making the US government more efficient come January, has zeroed in on the Federal Reserve.