Although federal officials have long recognized improper spending as a problem, it is not the main reason for the program’s dire financial outlook

Pinned to the top of Elon Musk’s X account is a six-minute clip of his recent three-hour interview with the podcaster Joe Rogan.

The involvement of Antonio Gracias, an investor who has known Elon Musk for two decades, suggests that Mr. Musk has made overhauling the Social Security Administration a priority.

Musk, the tech billionaire advising Trump, suggested that $500 billion to $700 billion in waste needed to be cut.

As Elon Musk continues to slash the budgets of government agencies at the behest of President Donald Trump, Social Security appears to be in the billionaire’s crosshairs. During an appearance on comedian Joe Rogan’s podcast last week, Musk criticized Social Security benefits, which are received by an estimated 72.5 million Americans.

After labeling Social Security “a Ponzi scheme,” Elon Musk’s offensive against the social-insurance program took another aggressive turn.

The world’s richest man claims, without evidence, that there’s $700 billion in “waste and fraud” he can cut from America’s core safety net programs

Elon Musk on Monday in an interview with Fox Business Network's Larry Kudlow referred to federal spending on programs such as Social Security, Medicare and Medicaid as areas that need to be eliminated.

Elon Musk has claimed that Social Security and other welfare programmes are plagued by fraud and improper payments, arguing that cutting $500 billion to $700 billion in government waste should be a key priority.