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Trump announces: Musk will take on a new position!
"Minister Ma" has arrived, whose task is to lead the "Government Efficiency Department", "dissolve government bureaucratic institutions, reduce excessive regulations, cut down on wasteful spending, and restructure federal institutions".
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Trump has started forming his cabinet, issuing a bunch of offers! Musk will lead the new "Department of Government Efficiency," nominating a television host as the Secretary of Defense.
President-elect Trump announced a series of appointments on Tuesday, local time, including appointing Fox News host Pete Hegseth as Secretary of Defense, Republican lawyer Bill McKinley as White House legal advisor, John Ratcliffe as Director of the Central Intelligence Agency, and Congressman Mike Waltz as National Security Advisor. In addition, Trump stated that Elon Musk and Vivek Ramaswamy will lead the new 'Government Efficiency Department'.
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Morgan Stanley analysts predict that if Tesla expands its business beyond autos, and Musk demonstrates new political power in the era of 'Trump 2.0', Tesla's stock price may rise to $500 per share, an increase of about 52.2% from the current level. Goldman Sachs believes that Tesla's autonomous driving capabilities may become the 'key' to its transformation into an ai giant, and Musk's political influence may help Tesla surpass auto manufacturers in the process.
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Here comes Minister Ma!
Elon Musk will be one of the leaders of the "Government Efficiency Department" (DOGE) plan proposed by Trump, and this work will be completed by July 4, 2026. Trump previously expressed his hope that Musk could assist in cutting government costs by $2 trillion, which means about one-third of the total cost. After acquiring Twitter in 2022, Musk made bold cuts by 80%.