DOGE: Elon Musk plans Spending Less Time in U.S Government from May
His service as head of the “Department of Government Efficiency” in President Trump’s administration will fall significantly starting in May
Quick overview
- Elon Musk announced a reduction in his role as head of the 'Department of Government Efficiency' starting in May.
- Despite a 40% drop in Tesla's stock this year, Musk plans to continue supporting Trump through DOGE to combat waste and fraud.
- Musk has invested nearly $300 million in Trump's 2024 campaign and intends to dedicate time weekly to these political efforts.
- Tesla reported disappointing first-quarter results, facing challenges from international competition and backlash due to Musk's political affiliations.
Tesla’s Elon Musk started his company’s earnings call on Tuesday by mentioning how his service as head of the “Department of Government Efficiency” in President Trump’s administration will fall significantly starting in May.
Musk stated he would keep supporting the president through DOGE despite seeing his company’s stock drop over 40% this year, “to ensure that the waste and fraud we stop does not come roaring back.”
It was previously reported that Musk spent nearly $300 million as part of the 2024 campaign to get Trump reelected, after which he created DOGE to downsize and limit the federal government’s powers.
Musk has repeatedly insisted he would continue spending “a day or two per week” on these issues “for as long as the president would like me to do so.”
Musk’s remarks came after the company reported lackluster first-quarter results, including a 20% year-over-year decline in automotive revenue.
To make matters worse, the company faces fierce international competition from China, an aging fleet of electric vehicles, and has recently started facing protests and brand damage in the US and Europe due to Musk’s links to Trump and support for the far-right AfD party in Germany.
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