He’s On It! Trump Wants to Know Who’s Been Playing With Fort Knox’s $400B Stash!

Former President Donald Trump and billionaire Elon Musk are stirring up old questions about America’s gold reserves, specifically those held at Fort Knox. Over the past two weeks, both men have raised concerns, with Trump even vowing to take a firsthand look at the tightly guarded vault.

“We’re actually going to Fort Knox to see if the gold is there. Because maybe somebody stole the gold. Tons of gold,” Trump declared Monday at the White House.

Musk kicked off the controversy last weekend with a series of social media posts, questioning whether the gold was still in Fort Knox or if it had mysteriously vanished. He called for a “live video walkthrough” to prove its existence.

Despite the speculation, there is no evidence suggesting any gold is missing. Treasury Secretary Scott Bessent, a Trump appointee who oversees the reserves, insists everything is accounted for. However, public access to the facility remains highly restricted.

Fort Knox, officially known as the U.S. Bullion Depository, holds approximately 147.3 million troy ounces of gold—about 59% of the Treasury’s total reserves, according to the U.S. Mint.

With gold trading above $2,960 per troy ounce on Monday, that stockpile is theoretically worth $436 billion. However, the government values it at just $6 billion, using an outdated book price of $42.22 per ounce.

Bessent dismissed the speculation Thursday, telling Bloomberg, “We do an audit every year. I can tell the American… all the gold is there.” He referenced a September audit confirming the inventory.

Fort Knox is one of the most secure locations in the world and has only allowed public inspections three times:

• 1943: President Franklin D. Roosevelt visited.
• 1974: A group of 10 Congress members toured the vault to reassure the public.
• 2017: Then-Treasury Secretary Steven Mnuchin and Sen. Mitch McConnell, R-Ky., were given access.

Mnuchin later remarked, “It is freakishly well secured.” Kentucky’s former governor, Matt Bevin, confirmed, “The gold is safe.” The skepticism Musk is raising echoes the public curiosity surrounding the 1974 visit. At the time, The New York Times ran the headline: “Visitors Get a Peek at Fort Knox Gold—It’s There.”

“If President Trump wants it to be audited, that’s obviously something that can be easily done,” Mnuchin told CNBC on Thursday. “The gold was there when I visited it, and I hope nobody’s moved it. I’m sure they haven’t.”

The U.S. holds more gold reserves than any other country, with over 8,133 metric tons—more than twice the amount in Germany, the second-largest holder. The U.S. stockpile accounts for nearly 4% of the world’s above-ground gold supply, according to the World Gold Council.

Fort Knox was built in the 1930s to centralize and protect the nation’s gold reserves. Its Kentucky location was chosen due to concerns about potential foreign attacks on East Coast vaults. From 1941 to 1944, the facility even safeguarded the Constitution and the Declaration of Independence.

Sen. Rand Paul, R-Ky., responded, “Let’s do it,” to Musk’s call for annual audits of the reserve. Trump joined in on Wednesday, telling reporters, “We hope everything’s fine with Fort Knox, but we’re going to go to Fort Knox… to make sure the gold is there.” He later added, “If the gold isn’t there, we’re going to be very upset.”

The renewed focus on America’s gold comes at a time when the precious metal is surging in value. Gold prices have climbed more than 40% in the past year and 10% in 2024 alone, outpacing major stock indexes as investors flock to gold amid rising government debt and inflation fears.

While the gold at Fort Knox is almost certainly still there, Trump and Musk’s latest push to inspect it is drawing public attention to the vault’s secrecy once again. Whether this leads to an unprecedented audit—or just another round of speculation—remains to be seen.