Elon's bet paid off - he'll now 'guide government'

Washington - South African-born billionaire Elon Musk took a wild gamble backing Donald Trump's White House candidacy, but the bet has paid off - at least for now - with the US president-elect handing him an outsized role to overhaul the government.

Musk said before the election that a new "department of government efficiency" would slash $2 trillion (about R36 trillion) from the federal budget - a big promise echoing his sky-high business ambitions that have made him the world's wealthiest person.

With few details released, questions as to how Musk will lead the agency, including how he will juggle his new role while managing SpaceX, Tesla and his other ventures, including X.

With Musk's businesses all having varying degrees of interactions with US and foreign governments, his new position also raises concerns about conflict of interest.