Musk's stint in government efficiency set to conclude, Trump says
The President of the United States, Donald Trump, announced that the Government Efficiency Department (DOGE), headed by Elon Musk, "at some point" will cease operations. The billionaire is available to serve as a special government employee for only 130 days.
— He’s got a big company to run and so at some point he’s going to be going back — said Donald Trump on Monday, as quoted by CNN.
Trump comments on Musk's work
The president added that he would like to keep him as long as possible.
From the outset of his second term as president, Donald Trump praised Elon Musk and his vision as the head of DOGE. The president continues to support Musk's companies, such as Tesla and SpaceX.
When asked if DOGE would continue its activities without Musk, Trump expressed his belief that the department heads have "learned a lot" about how to operate, and some of them will want to keep DOGE employees.
He assessed that "at some point," DOGE will cease operations. "At some point, the secretaries will be able to do this work," added President Trump.
DOGE is a government institution led by billionaire Elon Musk aimed at reducing federal expenditures. According to CNN estimates, during DOGE’s operation, over 121,000 employees were laid off from federal agencies.
Musk's Tesla has problems
Tesla's shares have fallen by over 53% since December 2024, making it the second-worst company in the world in terms of percentage value decline. The market capitalization of the electric car manufacturer has shrunk by $795 billion, and Elon Musk's wealth decreased by nearly $150 billion.
Investors fear the impact of Musk's public activities on Tesla. His involvement in the Trump administration and controversial statements on social media platform X have caused concern.
Elon Musk's problems led the president to get involved in car promotion. Donald Trump announced that he would buy one of the Teslas and then posed for photos in the car parked in front of the White House. Moreover, Trump remarked that the attacks on Tesla are signs of "internal terrorism," which can carry penalties of up to 20 years in prison.
