Chief Executive Officer Elon Musk is no stranger to hyperbole. For example, he once called the Hyperloop, which was never built, the "fifth mode of transport" and famously promised to take Tesla private in a Twitter post,

Compare that with the same period last year under Joe Biden: federal spending back then came to about $26bn a day. Outflows from the Treasury have actually risen since January 28th, when Mr Musk first claimed his “Department of Government Efficiency”,

President Trump has empowered Elon Musk, the richest man in the world, to gut the federal bureaucracy. Here's 5 ways he's starting to carry it out.

After reaching a net worth of more than $486 billion in December, Elon Musk’s wealth has sunk below $400 billion for the first time in 2025. Tesla—where Musk derives about 60% of his wealth—has had an abysmal year.

President Donald Trump and his adviser Elon Musk held a joint press conference in the Oval Office Tuesday, talking about progress over budget cuts. Trump outlined his intentions to weed out government “corruption” before swiftly pivoting to let the press ask Musk questions.

Tesla is backed into an uneasy spot as CEO Elon Musk juggles his core roles at the electric vehicle-making company and his expanding portfolio of government responsibilities at the Department of Government Efficiency (D.