Trump hints at end of Musk-led efficiency department
U.S. President Donald Trump announced that the Department of Government Efficiency (DOGE), led by Elon Musk, "at some point" will cease operations, and 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 —Donald Trump said on Monday, as quoted by CNN.
Trump comments on Musk's work
The President added that he would like to retain him for 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 whether DOGE will continue its operations without Musk, Trump expressed his belief that department heads have "learned a lot" about how to operate and some of them will want to retain DOGE employees.
He assessed that "at some point" DOGE will conclude its operations."At some point, the secretaries will be able to do this work," added the U.S. President.
DOGE is a government institution led by billionaire Elon Musk, aimed at reducing federal expenditures. According to CNN estimates, over 121,000 employees have been laid off from federal agencies during DOGE's operation.
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 drop in value. The market capitalization of the electric car manufacturer has decreased by 1.1 trillion CAD, and Elon Musk's fortune has shrunk by nearly 215 billion CAD.
The billionaire's public activities have an impact on his businesses. Investors are concerned about how Musk's politics will affect Tesla. His involvement in the Trump administration and controversial statements on the platform X are causing anxiety.
Elon Musk's problems prompted the President to engage in promoting his cars. Donald Trump announced he would buy one of Tesla's vehicles and then posed for photos in the car parked outside the White House. The U.S. President labelled the attacks on Tesla as signs of "domestic terrorism," a crime which carries a penalty of up to 20 years in prison.
