Tesla investors received a welcome update Tuesday afternoon when CEO Elon Musk announced he would be dedicating more of his time to Tesla, while stepping back from his role at the Department of Government Efficiency (DOGE).
According to Musk, the agency—tasked with rooting out waste, fraud, and abuse within the federal government—has a strong foundation in place, making this the right time for new leadership to take over. Musk had previously claimed that DOGE could save taxpayers up to $2 trillion, though that estimate has been revised downward on multiple occasions.
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In his March State of the Union address, President Donald Trump devoted five minutes to praising DOGE's efforts. He cited the agency’s uncovering of questionable government expenditures, including $22 billion allegedly allocated to the Department of Health and Human Services for providing free housing and vehicles to undocumented immigrants, $45 million in diversity and equity scholarships sent to Burma, and funds reportedly used to support research aimed at altering frog genders.
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