Experts say he could easily snuff out federal investigations or safety initiatives that have stymied Tesla or his other companies.

Musk, who also runs SpaceX and a number of other companies, has been known to make big often exaggerated promises. For example, he once called the Hyperloop, which was never built, the "fifth mode of transport" and famously promised to take Tesla private in a Twitter post, saying he had secured financing that he didn't have.

President Trump has empowered Elon Musk, the richest man in the world, to gut the federal bureaucracy. Here's 5 ways he's starting to carry it out.