Elon Musk revealed Tuesday he would spend ‘significantly’ less time on DOGE Service from the next month as the billionaire seeks to devote greater attention to his company Tesla amid decline in its profits and sagging stock performance.
As aide to President Donald Trump, Musk has led efforts at the Department of Government Efficiency that often takes controversial measures like shutting down departments and firing thousands of federal workers.
These steps, which the Trump Administration justifies as necessary for downsizing and improved governance, have often been criticized.
Musk’s electric vehicle company Tesla Tuesday said its profits plummeted by a 71 percent margin compared with the first quarter performance in 2024.
Additionally, Tesla stock shares are 37 percent lower than they were at the beginning of the year.
On Tuesday Musk said his “time allocation to DOGE will drop significantly, though he also indicated that he would remain a part of DOGE through President Donald Trump’s term.
Tesla acknowledged the challenges, noting that trade policy and “changing political sentiment could have a meaningful impact on demand for our products in the near term.”
