Elon Musk, CEO of Tesla, announced that his federal workforce slashing initiative has saved $160 billion so far, falling short of his original projections. In a farewell visit to President Trump’s Cabinet, Musk expressed gratitude for the opportunity to work with them and praised their accomplishments. He plans to reduce his time spent on the Department of Government Efficiency from several days per week to just one or two days per week.
Musk had initially set a target of slashing at least $2 trillion from the federal budget, but later downplayed this estimate. The actual savings are significantly lower, with some experts estimating it could be as low as $135 billion. Despite the reduced numbers, Musk believes his efforts have been successful and expressed appreciation for the support he has received.
Trump praised Musk’s contributions, saying that despite some criticism, “the vast majority of people in this country really respect and appreciate you.” Musk quipped about the vandalism targeting Tesla vehicles, but Trump assured him that he is welcome to stay as long as needed. Musk plans to continue working on his government efficiency initiative for as long as the president desires.
Source: https://www.cnbc.com/2025/04/30/elon-musk-trump-cabinet-doge-tesla.html