Elon Musk has been moonlighting since January as the head of Doge, a new unit in the White House that is to implement massive public spending cuts in the USA.
Musk says that the major work of getting Doge in place is "largely done" and that the time he spends on the unit will decrease significantly from May onwards. The Tesla CEO also hints that he will continue to advocate for lower tariffs.
The announcement comes during an investor meeting, after electric car manufacturer Tesla failed to meet expectations in its quarterly report on Tuesday evening. However, Tesla's stock price surged in after-hours trading following Musk's statements.
Musk, as a specially employed person by the federal state, is not allowed to work more than 130 days a year for the government, even if he were to do it unpaid.
Tesla is the only listed company in Musk's business empire and has been affected by public protests due to the tech billionaire's influence in Washington and close ties with Donald Trump.
