Elon Musk Departs DOGE

June 3, 2025

Elon Musk resigned from his role as a special government employee leading the Trump Administration’s Department of Government Efficiency (DOGE) last week.

  • While Musk is departing, he posted to X last week that the work of DOGE will continue and that the “DOGE mission will strengthen over time as it becomes a way of life throughout the government.”
  • Musk expressed gratitude for the opportunity to serve and indicated that the mission of DOGE would continue to influence government operations. 
  • President Donald Trump acknowledged Musk's contributions, stating that while Musk is officially leaving, he would remain as an informal adviser.

By the numbers: Musk's tenure at DOGE was marked by ambitious goals to reduce federal spending by up to $2 trillion. "I think if we try for 2 trillion, we've got a good shot at getting 1,” Musk said earlier this year, according to Reuters. He described the $2 trillion target as a "best-case outcome."

However, DOGE has only reported savings of approximately $175 billion, a figure that has been met with skepticism due to questions over data accuracy and the broader economic impact of the implemented cuts. DOGE’s cost-cutting efforts have sought to reduce the federal workforce through a variety of firings, buyouts, and planned reductions in force.

What they’re saying: Musk, who left DOGE to refocus on his businesses, publicly criticized President Trump's One Big Beautiful Bill, warning that it would elevate the federal deficit and undermine DOGE's cost-cutting efforts.
 
Certain GOP members on Capitol Hill agree with Musk and have argued against the One Big Beautiful Bill.
 
  • Senator Rand Paul (R-KY) recently vocalized his opposition to the bill on X, arguing that it would explode the country’s debt and undermine all the progress DOGE has made.
  • His vote, among others, in the Senate will be key to ensuring the bill’s success or failure.

Contact James Montfort (Jmontfort@crefc.org) with any questions.

Contact  

James Montfort
Manager,
Government Relations
202.448.0857
jmontfort@crefc.org
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

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