Elon Musk has shared new details about his role in the Trump administration as Tesla grapples with a sharp drop in profits.
Following Donald Trump’s return to the White House, he set out to revamp the U.S. government, appointing Musk to lead the newly created Department of Government Efficiency (DOGE), tasked with slashing wasteful spending—a goal the department claims it has already made significant progress toward.
According to Musk, DOGE has saved $65 billion so far through a mix of asset sales, canceled contracts and leases, fraud elimination, grant cancellations, interest savings, regulatory rollbacks, program cuts, and workforce reductions.
However, multiple outlets have reported that these figures are difficult to verify, and a report last week alleged that nearly $1 billion in claimed savings had “disappeared” overnight.
Of course, the billionaire also has to juggle running Tesla, which has been dealing with its own challenges, including vandalism targeting vehicles and showrooms, as well as falling stock prices.
Taking all of this into account, Musk has now outlined how he plans to divide his time moving forward.
Elon Musk has been heading Donald Trump’s DOGE since his inauguration (BRENDAN SMIALOWSKI/AFP via Getty Images)
During a company earnings call, Musk announced that starting in May, he will significantly reduce his time overseeing DOGE to focus more on running Tesla.
He added that he plans to continue dedicating “a day or two per week” to government matters “for as long as the president would like me to do so” (via CNBC).
Musk’s political involvement has sparked some controversy.
Last month, Ross Gerber, one of Tesla’s earliest investors, openly called for Musk to be replaced as Tesla’s CEO due to his expanding government role.
Speaking to Sky News, Gerber stated: “Elon Musk has effectively destroyed the company’s reputation.
“Sales are dropping, so yes, it’s a crisis. You can’t sell the best product on the market because the CEO is so polarizing.
“It’s time for someone else to take the reins at Tesla. The business has been neglected for far too long.”
Elon Musk’s time on DOGE will ‘drop significantly’ (Andrew Harnik/Getty Images)
Tesla’s share price has dropped more than 50 percent since December, with profits falling by a staggering $981 million, according to Sky News.
It seems Musk’s role was never meant to be permanent, with his time running DOGE reportedly capped at 130 days.
Both Trump and Musk have hinted at a potential shift that would see the Twitter owner step back from his government role.
When Fox News’ Bret Baier asked last month whether Musk would be ready to leave when his government position ends, Musk responded, “I think we will have accomplished most of the work needed to reduce the deficit by $1 trillion within that time frame.”
The 47th POTUS then told reporters earlier this month that ‘at some point Elon’s going to want to go back to his company’.
