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Elon Musk's 130-Day Government Rollercoaster: How He Burned $113 Billion

Tesla Model S Bluefire at Tesla Servicecenter Bern Switzerland

In a wild ride that would make even Silicon Valley’s most seasoned rollercoaster enthusiasts dizzy, Elon Musk’s stint as a special government employee has turned into a financial nightmare that’s crushing his tech empire and reputation.

Musk, known for his audacious tweets and tech innovations, has watched his personal fortune plummet by a staggering $113 billion during his 130-day collaboration with the Trump administration. His flagship company Tesla has been hit hardest, experiencing a brutal 33% stock drop and witnessing widespread public backlash.

The DOGE Debacle

While Musk initially promised to trim $2 trillion in government spending through the Department of Government Efficiency (DOGE), the initiative has disappointingly saved only $160 billion. Public sentiment has turned sharply against him, with 57% of Americans disapproving of his governmental performance.

Silicon Valley Meets Washington

Despite the financial bloodbath, not all of Musk’s ventures suffered. SpaceX secured massive government contracts, including a $5.9 billion deal to launch intelligence satellites and expanded rural broadband initiatives. X (formerly Twitter) also saw a potential revenue turnaround, with investors showing renewed interest.

The Political Liability

Musk’s political gambles haven’t paid off either. His $20 million investment in a Wisconsin Supreme Court race backfired spectacularly, with the supported Republican candidate losing by a significant margin. Even within the Trump administration, Musk’s influence seems to be waning.

As he announces a reduced role in DOGE, Musk’s tumultuous governmental adventure serves as a cautionary tale of what happens when tech billionaires play political chess – sometimes, you lose more than just pawns.

AUTHOR: cgp

SOURCE: The Mercury News