Elon Musk stepping down as DOGE chief amid Tesla crisis? What we know

Musk told Fox News’ Bret Baier that he is confident that DOGE could find $1 trillion in savings, bringing the total federal spending down to $6 trillion. The 53-year-old was appointed as a special advisor to President Trump as he spearheaded the government’s cost-cutting efforts.

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“I think we will accomplish most of the work required to reduce the deficit by a trillion dollars within that time frame,” Musk added. “The government is not efficient, and there is a lot of waste and fraud, so we feel confident that a 15% reduction can be done without affecting any of the critical government services.”

In the last month, Elon Musk’s electric vehicle company Tesla has seen a steep decline in terms of share price. Tesla’s shares fell over 5% on Monday. The billionaire also addressed country-wide protests against the EV-maker.

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Speaking to staff in Austin last Thursday, he admitted: “I’m stretched pretty thin. I have like 17 jobs.” Talking about attacks and vandalism targeting his company, Musk noted that it sometimes ‘feels like Armageddon’ when he watches coverage of them on TV.

“There are times when there are rocky moments, a little bit of stormy weather,” he told employees. “But what I’m here to tell you is that the future is incredibly bright and exciting, and we’re going to do things that no one I think has even dreamed of.”

Elon Musk’s role within the Trump administration has faced severe backlash from Democrats. He, however, downplayed the number of employees dismissed by DOGE during widespread federal layoffs.

Neither President Trump nor the White House have reacted to Musk’s ‘I am done’ statement yet.