Elon Musk, CEO of Tesla, announced that his time spent running the Department of Government Efficiency (DOGE) will significantly decrease in May. This comes as Tesla faces a sharp 71% drop in profits, with quarterly earnings falling to $409 million.
Elon Musk has announced that his role in the Department of Government Efficiency (DOGE) under President Donald Trump will be considerably reduced from May onwards. This development comes as Tesla, the electric vehicle giant he heads, reported a steep 71% drop in quarterly profits, declining to $409 million.
"Probably in the next month, my time allocation to DOGE will drop significantly," the world's richest person was quoted as saying during a Tesla earnings call.
The revenue of the Austin, Texas-based electric vehicle manufacturer dropped to $19.3 billion, marking a 9% decline during the January-March quarter.
In recent weeks, analysts have attributed much of Tesla's steepest sales slump in history to Elon Musk’s contentious role in the Department of Government Efficiency (DOGE). His involvement in the Trump administration has sparked protests outside Tesla showrooms and even incidents of vandalism at company facilities across the United States. Similar demonstrations have also taken place across Europe.
However, during the earnings call, the billionaire asserted—without providing any evidence—that the protests were being led by individuals who had benefited from the “waste and fraud” that DOGE was actively targeting and eliminating.
“I think the right thing to do is fight the waste and fraud and try to get the country back on the right track. If the ship of America goes down, Tesla will go with it,” Musk said.
“The future of Tesla is brighter than ever. Its problems are not nearly as serious as they have been in the past. Our work on autonomous driving and humanoid robots would produce a period of sustainable abundance for all," he added.