Elon Musk to cut back his work with DOGE
In a significant turn of events, Elon Musk has decided to curtail his involvement with the Department of Government Efficiency (DOGE) to refocus on Tesla, prompted by a striking drop in the automaker’s profits.According to the Daily Mail, Elon Musk announced cutting back on his DOGE commitments starting in May, following Tesla's substantial profit decline.
Since taking over the role of 'First Buddy' at DOGE in January, Tesla has witnessed a roughly 40 percent decrease in its stock value. This has coincided with a stark 71 percent drop in Tesla's first-quarter profits compared to last year, falling from $1.4 billion to $409 million.
This financial downturn has failed to meet Wall Street expectations and has been a source of mounting worry for investors and stakeholders.
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