Tech mogul Elon Musk is facing “great difficulty” managing his numerous companies while actively working as a key adviser in the Trump administration, overseeing efforts to streamline the federal workforce through the Department of Government Efficiency (DOGE). His candid admission comes amid a significant downturn in Tesla stock, sparking investor concerns over his deepening political involvement.
Musk Balances Business and Government Reform
In a rare interview on Fox Business with former Trump official Larry Kudlow, Musk acknowledged the immense challenges of juggling leadership at Tesla, SpaceX, Neuralink, and X while spearheading government efficiency initiatives.
“With great difficulty,” Musk replied when asked how he was managing his empire. Pausing before elaborating further, he noted, “Yeah, I mean…” before sighing, emphasizing the burden of his responsibilities. Despite the challenges, he reaffirmed his commitment to improving government operations and eliminating wasteful spending.
Tesla Stock Drops as Musk’s Political Role Expands
Musk’s high-profile role in the White House has coincided with a sharp decline in Tesla’s share price, with analysts attributing investor unease to his increasing political engagement. His active participation in cost-cutting measures under DOGE has led to significant reductions in federal spending but has also resulted in thousands of federal job cuts.
His political shift toward the right and alignment with President Trump may also be alienating Tesla’s traditionally eco-conscious investor base, many of whom prioritize sustainable energy initiatives over government fiscal policy.
X Faces Cyberattack Amidst Political Developments
Adding to Musk’s mounting challenges, his social media platform X recently suffered a “massive cyberattack,” which he claimed originated from the “Ukraine area.” The attack disrupted thousands of users, leading Musk to suggest it was a well-coordinated operation requiring significant resources.
Cutting Federal Spending: Musk’s New Mission
Musk’s work with DOGE is centered on slashing federal expenditures to prevent financial mismanagement. He highlighted the disparity between national debt and defense spending as a driving factor behind his involvement.
“The goal here is, let’s not have America go bankrupt with waste and fraud,” he stated. “So, that’s what I’m here for, and we’re making good progress.”
According to DOGE, Musk’s cost-cutting initiatives have already saved the government $55 billion, though at the expense of federal jobs.
Investor Concerns and Future Implications
With Musk deeply entrenched in government efficiency efforts, the business world is closely watching how his political activities will continue to impact Tesla and his other ventures. As Tesla shareholders react to his shifting priorities, the broader market remains uncertain about the long-term effects of his White House involvement.
