Caricatures and drawings on Forex portal

Musk’s service at DOGE could be temporary?

Open trading account

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Musk’s service at DOGE could be temporary?

Offer your friend to read

US President Donald Trump makes curious comments. This time, they relate to Elon Musk and the Department of Government Efficiency (DOGE). Imagine this: the state leader claimed that the Tesla and SpaceX CEO could serve in government for only 130 days. Does it mean that Musk will be fired once this term expires? The community is puzzled.

According to Trump, the DOGE department will "at some point" cease to operate because its head Elon Musk will serve in government for only 130 days. "I'll keep him as long as I can. He's a very talented guy," the US president noted. Earlier, the US president noted that the Tesla and SpaceX CEO is "very smart and does a great job," but the entrepreneur should return to managing his business "in a big company."

Elon Musk’s political activity, after he was put in charge of an agency in Trump’s administration, has caused grave problems for the world’s richest billionaire. Previously, riots were reported at Tesla showrooms in several American cities. Besides, there was an attempt in New York to ban the company from operating in the state. Against this backdrop, Tesla's sales and stock value got into a downward spiral. As a result, the billionaire lost a significant portion of his wealth.

At the same time, Donald Trump praises Musk for revealing "absurd multi-billion-dollar government spending," promising to direct the saved funds toward combating inflation and reducing the national debt. Interestingly, Musk plans to cut US spending by $2 trillion. In practice, the businessman’s initiatives backfired on employees. Measures taken by DOGE to optimize expenses ended up in the dismissal of thousands of federal employees and the suspension of most financial assistance programs.

Back