Elon Musk has long railed against the U.S. government, saying a crushing number of federal probes and safety programs have stymied Tesla, his electric car company, and its efforts to create fleets of robotaxis and other self-driving automobiles.

Musk, who last year said “things that inhibit freedom of exchange or distort the market are not good,” became $12 billion poorer Monday.

Government investigations into Mr. Musk’s companies are stalling amid President Trump’s firings and Biden administration resignations.