Editor’s note: On Nov. 12, incoming President Donald Trump announced Musk would help lead a new Department of Government Efficiency, potentially setting up the tech billionaire for an unprecedented tax break. This story was updated to reflect the recent development.
Thanks to a provision buried in the tax code, Elon Musk could reap one of the largest personalized tax breaks in American history if former President Donald Trump wins the 2024 election and fulfills his pledge to appoint Musk to a top government post, according to tax and ethics experts’ review of long-standing statutes.
