Elon Musk says his DOGE role is hurting Tesla's stock price, calling it "a very expensive job"
CBSN
Tesla CEO Elon Musk acknowledged that his role in the Trump Administration with the Department of Government Efficiency, or DOGE, is weighing on the electric vehicle maker's stock, calling his advisory role "a very expensive job."
Musk's role at DOGE has sparked protests from voters who are opposed to DOGE's activities, including gaining access to sensitive data for millions of Americans and shuttering entire agencies as the billionaire seeks to slash government spending. On Saturday, crowds amassed outside Tesla dealerships throughout the U.S. and in some cities in Europe to protest his government activities.
About one-third of Musk's estimated $330 billion fortune consists of the stock he holds in the electric vehicle company that he continues to run while also working alongside Mr. Trump. After Mr. Trump was elected in November, Tesla rose to a record high on Dec. 17 of $479 per share, but the stock has has since tumbled 48%.
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This story previously aired on June 15, 2024.It was updated on April 12, 2025.
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