Billionaire Elon Musk says he wouldn't have become the successful entrepreneur he is today if he hadn't immigrated to the U.S. from South Africa in 1992. But he as a message for the U.S. government about entrepreneurship: "Get out of the way" and let companies innovate.

"I think its a false dichotomy to look at government and sort of industry as separate...government is...the ultimate corporation," Musk said Tuesday at the WSJ CEO Summit, calling it a "monopoly that can't go bankrupt, or usually cannot go bankrupt."