Elon Musk acknowledged Monday that juggling his leadership roles at Tesla and SpaceX while spearheading a major government efficiency initiative has been challenging.
Speaking with Fox Business host Larry Kudlow, Musk was asked how he manages his business empire alongside his work with the Trump administration. “With great difficulty,” he responded, followed by a long pause and sigh, offering little further explanation.
“I’m just here trying to make government more efficient, eliminate waste and fraud, and so far we’re making good progress, actually,” he added.
His remarks came as Tesla’s stock tumbled 15% on Monday—its worst single-day drop since 2020. The stock has now fallen 55% from its December peak, raising concerns among investors about Musk’s divided attention.
Musk has been closely involved with the Department of Government Efficiency (DOGE), which has implemented spending cuts and mass layoffs across multiple federal agencies. While President Donald Trump has credited Musk with leading the office, other White House officials have denied that he holds a formal leadership role.
During the interview, Musk revealed that his team at DOGE has grown to more than 100 people and is expected to reach 200 soon. When asked if his group had taken action in every government agency, he confirmed: “We’re trying to make the government more efficient across the board, so yeah.”
Musk also addressed recent attacks on Tesla facilities, including gunfire at a dealership in Oregon and other incidents of vandalism. “It’s tough,” he admitted, but maintained, “we’re doing the right thing here.”
While Musk is known for his intense work ethic, some investors fear Tesla is no longer his top priority. “We think shareholders have legitimate concerns about Elon Musk being spread too thin,” said Garrett Nelson, a senior equity analyst at CFRA Research. “It’s become clear he’s now spending more time on DOGE than anything else.”
