As Tesla's stock price experienced seven consecutive weeks of sharp decline, Elon Musk, CEO of Tesla and SpaceX and current head of the US Department of Efficiency (DOGE), admitted in an interview on Monday that he had "encountered great difficulties" in running his own business.
However, at the same time, Musk stated that he will continue to work hard to streamline the US federal government and widely improve government efficiency.
Optimistic view of Tesla's stock price plunge
On Monday of this week, Tesla's stock price experienced its worst decline in five years, plummeting 14% in a single day, wiping out all gains since Trump's election in November 2024.
Tesla stock price trend over the past year
Since Musk joined the Trump administration as Minister of Efficiency, Tesla's stock price has been declining for seven consecutive weeks. Tesla has lost over 50% of its market value during this period, equivalent to nearly $800 billion.
On Monday of this week, Musk responded to a post on Twitter about Tesla's largest single day decline in history, saying, "In the long run, everything will be okay
In an interview, Musk responded to the question about the sharp decline in his company's stock price by saying, "Think positively - always see the bright side of things
In addition to Tesla and X, Musk's other businesses include space exploration company SpaceX and neural technology company Neuralink.
In an interview on Monday, when asked by the host, as the head of DOGE, "You gave up on other things... how did your other businesses operate
Musk bluntly said, 'With great difficulty,' and then chuckled softly.
Yes, what I mean, "Musk sighed," I'm just trying to make the government more efficient, eliminate waste and fraud. Actually, we've made good progress so far. Currently, we're saving over $4 billion a day. So this is very important
We will continue to promote the comprehensive 'slimming' of the government
Musk also revealed in an interview that the DOGE team currently consists of over 100 people, distributed across almost every government agency. In the future, Musk's ultimate goal is to have 200 employees from fields such as information security, software coding, and finance.
Unless we are stopped, we will save $1 trillion, "Musk predicted.
The data released by the US Bureau of Labor Statistics last Friday showed that since DOGE began pushing for government "downsizing", the federal government's employment in February decreased by 10000 people.
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