Billionaire Elon Musk claims to have helped the US government save $1 billion a day and aims to increase this number to $3 billion. Will Elon Musk really create a revolution in budget management?
Just weeks after billionaire Elon Musk was appointed a special government employee by President Donald Trump, his Office of Government Efficiency (DOGE) team has been given access to some of the most sensitive financial and data systems.
The DOGE leader has given some updates on his X media platform on what needs to be done to cut government spending that amounts to billions of dollars per day.
The government efficiency board led by billionaire Elon Musk announced on social network X that the agency is helping the US government save $1 billion per day and aims to increase this number to $3 billion per day in the future.
“DOGE is saving the federal government approximately $1 billion per day, primarily by freezing hiring for non-essential positions, eliminating DEI (diversity, equity, and inclusion) programs, and ending unnecessary spending on foreign entities, all in compliance with the president’s executive orders,” the agency said.
Elon Musk has also boasted that his willingness to work on weekends is a “superpower” that gives him an advantage over his competitors, namely federal employees.
“Very few people in the bureaucracy actually work on weekends. It’s like the opposing team is off the field for 2 days!” he posted on X.
Many financial experts have so far expressed skepticism about DOGE’s ability to cut spending, arguing that such efforts would require complex procedures and budget adjustments.
However, billionaire Musk remains steadfast that DOGE will be a platform to bring innovation and efficiency to the US government, and could become a key part of President Trump’s “new golden age” vision.
Elon Musk attends President Donald Trump’s inauguration in Washington on January 20
Musk’s team moved quickly to shut down a slew of federal programs.
Notably, the Trump administration has confirmed plans to merge the U.S. Agency for International Development (USAID) into the State Department. This move is expected to reduce USAID’s staff and adjust the agency’s spending to match the White House’s priorities.
Elon Musk said he had discussed USAID in detail with President Trump. “He agreed that we should shut it down,” the billionaire said.
DOGE’s goal is to lay off unnecessary federal employees, cut programs, and cut federal regulations. The United States is currently the world’s largest humanitarian aid donor, with USAID managing billions of dollars in humanitarian, development, and security assistance in more than 100 countries.
In private conversations, Musk has told friends that he considers the ultimate measure of his success to be the number of dollars he saves each day, and that he is organizing his ideas based on that criterion.
“The more I get to know President Trump, the more I like him. Honestly, I love him,” Musk said in a live chat on the social network X on February 3. “This is our opportunity. This is the best bet we’ve ever had.”