Here’s what’s being said.
Former Trump strategist Steve Bannon is raising red flags about tech billionaire Elon Musk, demanding a full federal investigation into Musk’s massive wealth accumulation through U.S. taxpayer-funded contracts.
Appearing on his podcast, Bannon told former NBC anchor Chuck Todd that Musk, despite his public feud with President Trump, remains deeply entrenched in federal defense and space infrastructure—and it’s time for serious oversight.
“Ninety percent of SpaceX’s revenue comes from government contracts. That’s our money. Why don’t the American people own a piece of that?” Bannon asked.
Taxpayer-Funded Fortune? Bannon Sounds the Alarm
According to Bannon, Musk has leveraged his companies—SpaceX, Tesla, and Starlink—to become one of the wealthiest men on Earth, while relying heavily on NASA, the Pentagon, and other U.S. agencies.
“They just raised funding at a $318 billion valuation,” Bannon said. “He owns about 50%. That’s up to $150 billion in personal wealth, all built off federal contracts and subsidies.”
Call to Action: Nationalize SpaceX?
Bannon went further, urging Congress to consider nationalizing SpaceX, saying it’s already operating like a public utility under the guise of a private firm.
“SpaceX can’t survive without the government. NASA can’t function without SpaceX. It’s time to put the American people first. Not Elon Musk.”
Security Risks? Starlink Allegedly Installed in White House
Bannon also revealed alarming new claims—that Musk’s Starlink satellite internet system has been installed inside the White House, possibly including access for senior staff.
“Who approved that? Why is one private citizen being given this much access to national security infrastructure?” Bannon asked.
Drug Use Allegations and Security Clearances
During the exchange, Todd and Bannon agreed that Musk would never pass a standard federal background check, citing on-record drug use and erratic behavior. Bannon even referenced a recent physical altercation between Musk and Treasury Secretary Scott Bessent inside the White House—an incident reportedly fueled by Musk “micro-dosing” psychedelics.
Time for a Special Counsel?
Bannon concluded the discussion with a direct demand: Appoint a special counsel to investigate Musk, review all government contracts, and assess whether any national security risks are being ignored due to Musk’s celebrity status and media influence.
“This isn’t about innovation anymore,” Bannon said. “It’s about accountability, national sovereignty, and the rights of the American taxpayer.”