An Elon Musk Friend, Antonio Gracias, Joins His Effort on Social Security
One of Elon Musk’s closest confidants, a private equity investor, has taken on a new role within the Social Security Administration. This move could potentially stir political controversy due to the program’s popularity and Mr. Musk’s plans for significant changes within the agency.
Antonio Gracias, the investor in question, has a longstanding relationship with Musk, serving on the boards of Tesla and SpaceX. He has now joined the administration as part of Musk’s cost-cutting initiative known as the Department of Government Efficiency. This information comes from documents obtained by The New York Times and individuals familiar with the appointment.
Out of the 50 individuals who have joined Musk in Washington, Mr. Gracias has one of the most extensive histories with him, dating back around two decades. Their close bond has made Gracias one of Musk’s most trusted advisors.
The involvement of such a key ally in the Social Security Administration indicates Musk’s focus on overhauling the agency. Recent statements from Musk have highlighted alleged fraud within the system, referring to Social Security as a “Ponzi scheme” and advocating for the elimination of fraud in major entitlement spending.
While Republicans have long considered privatization or cuts to Social Security, they have hesitated to act due to potential backlash. Democrats see an opportunity in Musk’s potential reforms at the agency.
Nine members from the Department of Government Efficiency, including Antonio Gracias and two colleagues from Valor Equity Partners, have recently joined the Social Security Administration. Documents reveal that they have been analyzing audits of the agency and expressing concerns about the trust funds.
During a podcast episode in February, Gracias downplayed his involvement in the cost-cutting task force but acknowledged their scrutiny of the agency’s finances. He raised alarms about the system’s “material weaknesses.”
The specifics of Gracias’s role within the agency, as reported by Bloomberg News, remain undisclosed. Neither Gracias nor the Social Security Administration have provided comments on this matter.
Gracias’s introduction to Musk through venture capitalist David Sacks led to a longstanding relationship. He has been a supporter of Tesla from its early days and has collaborated with Musk on various ventures. Their close ties have extended to personal interactions, including vacations and joint business endeavors.
As both Musk’s and Gracias’s careers have flourished, their partnership has deepened. Gracias has invested in several of Musk’s companies and played a key role in managing financial transactions. His move to Miami and involvement in political circles reflect a shift in his affiliations and priorities.
Gracias’s support for Musk’s initiatives, including the fight to acquire Twitter, underscores his loyalty to the billionaire entrepreneur. Their shared concerns about government spending and accountability have driven their collaborative efforts.
Gracias, a graduate of Georgetown’s foreign service school, has been seen alongside Musk at various events, including a dinner at the Alfalfa Club. His shifting political allegiances, from supporting Hillary Clinton to backing Republicans and contributing to Musk’s super PAC, reflect his evolving views and priorities.
In his bold statements, Gracias has echoed Musk’s concerns about fraud and government accountability. His unwavering support for Musk’s endeavors, as evident in their personal communications, underscores their strong partnership and shared vision.
Andrew Duehren contributed reporting.
