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Tesla's market value is "halved" and Musk is unable to do anything, expected to lead DOGE for another year
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3 hours ago 4,402
Golden Finance reported that Elon Musk said on Monday that he faced "huge difficulties" in balancing the U.S. Department of Efficiency (DOGE) with other businesses. Tesla suffered its biggest single-day drop in five years, while its social media platform "X" experienced several cyberattacks. Musk said in an interview that he is expected to stay in the Trump administration for another year. Tesla's stock price has been falling weekly since Musk joined the Trump administration as DOGE "Minister". DOGE is conducting a broad and controversial action aimed at reducing federal spending and employee numbers. Tesla's market value has now been "halved" from its peak, equivalent to a loss of nearly US$800 billion. Forbes data shows that Musk's net worth shrank by $22.8 billion on Monday, but still leads Bezos, who ranks second in the rich list, more than $100 billion. Musk also said that the DOGE team currently has more than 100 people, which may increase to 200 people.
Keywords: Bitcoin
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