According to PANews, Elon Musk is struggling to balance his role at the U.S. Department of Government Efficiency (DOGE) with his leadership across multiple businesses.
On Monday, Tesla experienced its largest single-day drop in five years, while Musk’s social media platform, X, faced several cyberattacks. In an interview, Musk revealed that he expects to remain in the Trump administration for another year despite the ongoing decline in Tesla’s stock price since he took on the role of DOGE Minister.
Tesla’s Market Woes & Musk’s Net Worth Decline
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Tesla’s market value has dropped by nearly 50% from its peak, erasing $800 billion.
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Forbes data indicates Musk’s net worth fell by $22.8 billion on Monday, though he remains over $100 billion ahead of Jeff Bezos.
DOGE’s Controversial Initiative
The Department of Government Efficiency (DOGE) is leading an aggressive initiative aimed at reducing federal spending and workforce size, which has sparked debate. Despite the turbulence, Musk noted that DOGE’s team has grown to over 100 members, with plans to expand to 200.
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