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Market News It is rumored that Musk will quit DOGE work in May

It is rumored that Musk will quit DOGE work in May

Musk will end his work at the Department of Government Efficiency (DOGE) in May this year.

2025-04-02

8759

Dogecoin

US President Donald Trump recently revealed that the world's richest man, Elon Musk, may soon end his work in the government and return to managing his own business full-time. Since January last year, Musk has served as head of the Department of Government Efficiency (DOGE), promoting federal government reforms, including large-scale layoffs and a number of policy adjustments.

Musk's term as head of the Department of Government Efficiency (DOGE) is a 130-day term that is expected to end in May. Since joining the government, he has led a series of major reforms, including cutting a large number of government personnel and closing agencies such as the United States Agency for International Development (USAID) and the United States Institute of Peace (USIP).

At a White House event, Trump said that despite Musk's outstanding work in government, he still needs to return to businesses such as Tesla and SpaceX. Especially under his promotion, the core goals of government reform have been basically achieved.

Although these measures have improved the efficiency of the federal government's operations, they have also caused dissatisfaction among some people and affected Tesla's stock price. Anti-Musk and anti-Tesla actions have also broken out around the world, and some Tesla owners have even been vandalized by opponents.

On the other hand, Musk has repeatedly stated that the work of his Government Efficiency Department has made him a target of public criticism. In addition to death threats, Tesla's stock price has also fallen nearly 47% from its high. Even though a large number of Korean retail investors have entered the market to "fish at the bottom", the decline is irreversible.

Recently, Musk announced that the government had no plans regarding Dogecoin (DOGE), which caused Dogecoin to fall for a time. The market seemed to be numb to the news about Musk, and the overall market began to pick up. The stock market began to stabilize after two trading days of plummeting.