Elon Musk, CEO of Tesla and head of the so-called Department of Government Efficiency (DOGE), claimed that his initiative has saved $160 billion in federal spending. This figure is significantly lower than his initial projections. Musk expressed gratitude to President Donald Trump’s Cabinet during a White House meeting, stating it was an honor to work with them. Musk plans to reduce his involvement in the DOGE initiative starting in May, dedicating only a couple of days per week to it. Despite Musk’s claims, experts argue that the actual savings could be much less due to costs associated with firings, re-hirings, and lost productivity. Musk reiterated his commitment to continue working on DOGE as long as it remains useful to the president.
— new from CNBC
