Elon Musk, the Tesla (TSLA-14.87%) CEO who also leads several other tech companies and is the de facto head of the Department of Government Efficiency (DOGE), says he’s having trouble juggling it all.
In an interview with Fox Business Network (FOXA-2.41%) on Monday afternoon, Musk discussed his efforts to curb what he described as a “tremendous amount of waste and fraud in the government.” He said DOGE now operates in almost every federal agency and that his team has grown to more than 100 staffers, with plans to expand to 200.
When Kudlow asked how Musk is managing his many businesses alongside his role in President Donald Trump’s administration, Musk replied, “with great difficulty.”
“I’m just here trying to make government more efficient, eliminate waste and fraud,” Musk said. “And so far, we’re making good progress, actually.”
Musk leads several major tech firms, including Tesla, SpaceX, X (formerly Twitter), Neuralink, and The Boring Company, with some performing better than others.
His social media platform, X, experienced multiple outages on Monday. Musk said the disruptions were caused by a “massive cyberattack.”
Additionally, backlash over Musk’s relationship with Trump has helped fuel a stock sell-off that erased all of Tesla’s post-election gains, after the shares reaching record highs in December.
Tesla stock fell 15% on Monday to about $222 per share, extending a months-long slide that has seen the stock drop more than 44% since January.
The selloff has significantly impacted Musk’s wealth. His estimated net worth has fallen from a peak of $486 billion to $330 billion, according to the Bloomberg Billionaires List. Despite the $156 billion loss, Musk remains well ahead of Jeff Bezos, whose net worth is estimated at $220 billion.
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