President-elect Donald Trump has addressed speculation about Tesla Inc. (NASDAQ: TSLA ) CEO Elon Musk’s growing political influence.

What Happened: On Sunday, speaking at Turning Point USA’s AmericaFest conference, Trump dismissed suggestions that he had “ceded the presidency” to Musk, pointing to the Constitution’s natural-born citizen requirement, reported NBC.

“No, he’s not going to be president, that I can tell you,” Trump stated. “And I’m safe. You know why? He can’t be. He wasn’t born in this country.”

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Why It Matters: Earlier this week, Trump and Musk played a key role in derailing Republican House Speaker Mike Johnson's (R-La.) proposed emergency spending measure, forcing lawmakers to scramble for a last-minute alternative to avoid a government shutdown.

Democrats have jokingly dubbed Musk “President Musk” due to his growing political influence. Musk had spent more than $250 million on Trump's campaign, noted NBC.

A separate NBC report indicated that the Tesla CEO’s increasing presence in political circles has raised concerns among national security experts about potential conflicts of interest, given his extensive business dealings with foreign governments.

His companies maintain significant government contracts, with SpaceX providing critical services to NASA and the Pentagon.

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Tesla’s substantial manufacturing presence in China, where the company operates its Gigafactory Shanghai facility, has also drawn particular scrutiny.

The company currently dominates the U.S. electric vehicle market with nearly 50% market share .

Sen. Ben Cardin (D-Md.), outgoing chairman of the Senate Foreign Relations Committee, expressed concern about Musk’s dual roles.

“I think he has incredible conflicts,” Cardin told the publication. “His association with the president-elect has already profited him as far as his personal assets are concerned.”

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