Guess How Much Elon Musk Actually Got Done Before His Surprise Exit?
Elon Musk appears to be on his way out of Donald Trump’s White House

In the first 100 days of Donald Trump’s presidency, Elon Musk lost nearly twice as much money as he cut in government spending as the head of the Department of Government Efficiency.
Following a particularly humiliating earnings report from Tesla Tuesday, Musk told investors that starting in May, he would be reducing the amount of time he spends in the White House to pay more attention to his struggling electric car company.
In the first three months of the year, Tesla’s profits crashed 71 percent, falling to a mere $409 million, compared with $1.39 billion from the same quarter last year. The drop is undoubtedly a direct result of Musk’s entanglement with Trump’s administration, where Tesla has become a symbol of extreme cost-cutting measures that have led to sweeping layoffs and essential services being gutted.
During his time in the White House, Musk’s net worth has plummeted a whopping $122 billion, nearly twice as much as the $61.5 billion he was able to save the government, according to the Musk Watch DOGE Tracker, which tallies DOGE’s itemized cuts to contracts, grants, and real estate. Only $12.6 billion worth of cuts have actually been verified, according to the tracker.
DOGE still claims a far higher figure of $160 billion in estimated savings, but a closer look at Musk’s activities at DOGE show that the billionaire bureaucrat barely made a dent in the trillions of dollars he set out to slash in government spending.
“DOGE’s verified savings have been less than 1/10 of 1 percent of federal spending,” Jessica Riedl, a senior fellow and budget expert at the conservative Manhattan Institute told Axios Friday. “There have been embarrassing accounting errors, lots of public statements that turned out to be false or misleading, or actions slapped back by the courts.”
Reidl told Axios that Musk’s minute cuts will likely be offset by the Trump administration’s sweeping cuts at the IRS.
“The spending savings are so small that they will be undoubtedly overwhelmed by the significant tax revenue losses which result from gutting IRS tax enforcement,” she said. “It makes a mockery of claims that DOGE is really just about cutting deficits.”
Musk’s net worth began sinking last month after Trump failed to dispel rumors of a recession on the horizon, wiping out $29 billion of his ally’s own wealth. Things only got worse after Trump announced his sweeping “reciprocal tariff” policy at the beginning of April.
Sure, Musk was the biggest individual winner when Trump announced a 90-day pause on tariffs, sending Tesla stock shooting up 23 percent. But his time in the White House has taken a bite out of his wealth and done considerable damage to Tesla’s brand.
“The brand damage caused by Musk in the White House/DOGE over the past few months will not go away,” said Wedbush Securities analyst and beleaguered Tesla bull Dan Ives, according to Axios.
It seems that Musk may not be long for Washington—Trump even referred to him in the past tense Thursday. His status as a special government employee is set to expire next month anyway. And he clearly isn’t getting along with members of the administration, publicly picking fights over the IRS with the treasury secretary and starting rows with Trump’s top trade adviser over tariffs.
But it’s too soon to rejoice at the permanent departure of the billionaire bureaucrat. He told investors that he’d be cutting down to one or two days a week but that he’d have to continue working with the White House at least until Trump’s term had ended. But if Musk is hoping for a brand reset, he may have another think coming. No amount of cutting days in the office can erase the image of Musk gleefully waving a chain saw around.