Elon Musk announces a reduction in his involvement with DOGE following three months of efforts to reform government and workforce. Starting next month, he plans to shift his focus more towards Tesla but will still dedicate 1-2 days per week to DOGE-related government matters if necessary.
After Musk’s announcement, Tesla stock rose by approximately 5% in after-hours trading. Despite disappointing quarterly results for investors, Musk acknowledges that managing his company alongside his role in DOGE is a challenging task.
Under Musk’s leadership, DOGE has been unable to achieve the cost-saving goals initially set. The initial target was to save taxpayers $2 trillion, which was later reduced to $1 trillion and further lowered to $500 billion.
Furthermore, the figures for DOGE’s cost savings have been adjusted multiple times, such as a $4 billion reduction in March.
Source: Business Insider
TLDR: Elon Musk is reducing his involvement in DOGE to focus more on Tesla, but will still dedicate time to DOGE-related government matters. Tesla stock rose after the announcement, despite disappointing quarterly results. Musk acknowledges the challenge of managing both endeavors simultaneously.
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