More than eight months ago, Tesla CEO Elon Musk stirred up headlines with a bold question on X:
“Who is confirming that gold wasn’t stolen from Fort Knox? Maybe it’s there, maybe it’s not. That gold is owned by the American public! We want to know if it’s still there.”
At the time, Musk’s comment quickly went viral, especially after he floated the idea of doing a live video walkthrough of the facility.
Soon after, President Donald Trump jumped in, saying, “We hope everything’s fine with Fort Knox, but we’re going to go to Fort Knox… to make sure the gold is there.”
Sen. Rand Paul (R-KY) also chimed in, replying, “Let’s do it,” to Musk’s call for regular audits of the U.S. Bullion Depository.
But after all the noise and social media buzz, not much has happened since, even eight months later.
Lots of Talk, No Action Yet
Musk’s Department of Government Efficiency (DOGE), which he spearheaded at the time, was reportedly interested in auditing the gold at Fort Knox. So far, though, there’s been no confirmed visit, no livestream, and no fresh audit initiated by the department.
Treasury Secretary Scott Bessent attempted to shut down the rumors, telling Bloomberg in February, “We do an audit every year. I can tell the American [people]… all the gold is there.”
According to the U.S. Mint, Fort Knox holds 147.3 million troy ounces of gold—about 59% of the Treasury’s total supply. At the time, the market prices were above $2,940 per ounce, which comes to over $434 billion. But on paper, the government still valued it at $42.22 per ounce, or just $6 billion, due to decades-old accounting rules.
Despite the doubts circulating online, there’s no evidence the gold is missing. The U.S. issues monthly reports on its reserves, and the facility itself has only been opened to non-authorized personnel a few times in its history—most recently in 2017.
Fallout Between Musk and Trump
Since the initial Fort Knox buzz, the relationship between Trump and Musk has visibly cooled. Over the summer, Musk publicly pushed back against Trump’s push for broader tariffs and accused the administration of “penalizing innovation.” In response, Trump reportedly told allies that Musk had “become a pain,” and sources close to the White House said plans to involve Musk in future economic initiatives have been shelved.
Musk, who once praised Trump’s economic instincts, has more recently criticized the administration’s trade stance and regulatory policies, especially those affecting Tesla and SpaceX. Trump, for his part, has taken shots at Musk on Truth Social.
Why This Story Still Matters
Musk and Trump’s interest in Fort Knox hit a nerve, especially as public distrust in government institutions runs high. Gold prices have soared to more than $4,000 recently, outperforming the stock market amid concerns over tariffs and inflation. In that context, the idea of missing gold resonated with many.
Still, more than eight months later, the initial hype hasn’t resulted in any new findings or access. Whether that changes remains to be seen, but for now, the gold at Fort Knox remains out of sight—and the promised audit, just talk.