The EU faced questions on Wednesday over how much of its money goes to tech billionaire Elon Musk's companies as tensions ramp up between the new US administration and Brussels.

Analysts say he may have a longer-term goal for his business empire: backing political parties that might cut back regulations he thinks impede tech innovations.

The European Union was formed in order to screw the United States, Donald Trump has declared. Speaking during his first cabinet meeting, the US president said: “The European Union was formed in order to screw the United States, that’s the purpose of it. And they’ve done a good job of it. But now I’m president.”

The world's richest man said in a post on social media: "The EU leaders and Zelensky having fancy dinners while men die in trenches."

As head of the Department of Government Efficiency, Elon Musk has taken an aggressive approach to budget cuts. Economist Oren Cass weighs in on whether this strategy is reform or reckless slash-and-burn policymaking.

The billionaire adviser to the president spoke at the beginning of the meeting with the heads of agencies such as the state department and Pentagon.

While the new car market for EVs surged by 37% in January across Europe, Tesla’s share dwindled as sales dropped by almost half.

Trump confidant and tech billionaire Elon Musk openly supports Germany's far-right AfD party and continues to spread false and misleading claims on his platform, X.