Trump insists Elon Musk will put country before his companies

• Musk and Vivek Ramaswamy will have wide latitude with their non-governmental Department of Government Efficiency, or DOGE, to propose sweeping changes in how the country does business.

Driving the news: Time magazine named Trump its 2024 "Person of the Year," and in a lengthy interview he addressed the potential for conflicts.

• "I think that Elon puts the country long before his company," Trump said.
• "I mean, he's in a lot of companies, but he really is, and I've seen it. He considers this to be his most important project, and he wanted to do it. And, you know, I think, I think he's one of the very few people that would have the credibility to do it, but he puts the country before, and I've seen it, before he puts his company."

Between the lines: Musk's wealth has skyrocketed in the last few weeks precisely because investors believe his companies will benefit from his "First Buddy" status.

• Tesla shares are up 69% since Election Day, the valuation of SpaceX has reportedly increased 70% since June and even the valuation of X is on the rise.

The intrigue: A number of Musk confidants, like David Sacks and Jared Isaacman, have been tapped by Trump for key government roles.

• Even if Musk does not have personal conflicts, it remains to be seen how he will interact with agencies and offices led by his friends.