Trump wants to keep Musk in government for as long as possible

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Tesla stock ended Q1 down 36%.

President Trump has expressed his desire to retain Elon Musk’s services as a special government employee for “as long as” possible, but acknowledged that the tech executive may eventually need to return to his business responsibilities.

“At some point he’s going to want to go back to his company,” said Trump, speaking to reporters on Monday. He admitted that Musk had “a big company to run.”

The president also indicated that his cabinet secretaries would continue the work of the Department of Government Efficiency (DOGE), which has implemented extensive reductions in the federal workforce as part of efforts to reduce federal bureaucratic costs.

Trump issued an executive order establishing DOGE in January, following Musk’s proposal last year. The department’s goal was to save $1 trillion in tax spending. In its latest update, the agency claimed it had saved around $140 billion.

Words circulated that DOGE was tied to Dogecoin, the internet meme crypto, given Musk’s endorsement of the crypto and the acronym’s reference. The “Doge” meme was once integrated into the agency’s website.

However, on Sunday, Musk confirmed neither DOGE nor the US government planned to use Dogecoin. The name was simply a result of public input.

Musk has confirmed his plans to step down from his role at the agency in late May 2025. The departure plans come as Tesla faces challenges, including protests, stock declines, and vandalism targeting its facilities.

Political controversies surrounding Musk and Tesla’s association with right-wing politics have also contributed to consumer boycotts and investor concerns.

Tesla’s stock has experienced a 36% decline in the first quarter of 2025, per Yahoo Finance data.