Tesla dogged by DOGE fears but dont bet against Elon Musk

The country, saddled with trillions in debt and deficits, desperately needs what Elon Musk is doing with DOGE.But On The Money has learned that many shareholders of the company he runs, that would be the big EV-maker Tesla, are saying enough!That’s right.

The man who is known to be able to juggle everything and anything – from revolutionizing the electric vehicle market, to helping people around the world gain access to high-speed broadband, to building devices to possibly cure paralysis – has been accused of getting distracted by spending too much time in the White House these days, hanging with President Trump as part of the Department of Government Efficiency, aka DOGE.In fact, during the past month that Musk has been DOGE-ing, Tesla shares are down more than 17%.The S&P is up a tad during that time.

When I asked one hedge fund manager if he thought Musk was too distracted to properly run Tesla, he remarked “indeed.”Of course, a month is just a month, and Tesla has been a market darling for years.In recent days, shares have bounced back a bit; they’re just below 2% over the past week.

And no matter what you hear from his haters, most people (me included) love what Elon is doing.Exposing the waste of US taxpayer money on transgender dance festivals in Bangladesh is long overdue when you’re running a deficit of nearly $2 trillion annually and amassing $36 billion in debt.But I don’t own shares of Tesla.

And plenty of the people who do would love Musk to turn in his White House pass and focus more of his time running the company that made them rich, and quite frankly, made Musk the world’s richest person.That’s because a lot is at stake, they say.Tesla isn’t just any old EV company.

It has a market cap of more than $1 trillion, making it one of the most valuable companies in the world.Shares are up nearly 500% over the past five years.The S&P barely cracked above 80% in appreciation during that time.

The Tesla windfall allowed Mus...