Tesla CEO Elon Musk’s one sentence on DOGE makes him richer by $8 billion

Tesla CEO Elon Musk’s net worth increased by $7.5 billion on April 23, after the tech billionaire recommitted to dedicating more time to the company. Speaking at Tesla’s first quarter earnings call, Musk said that his time with the Department of Government Efficiency (DOGE) will drop ‘significantly’ next month. He said “Starting next month, May, my time allocation to DOGE will drop significantly” to a day or two per week. “I’ll continue to spend a day or two per week on government matters for as long as the President would like me to do so,” Musk said during Tesla’s earnings call.

Following the announcement, Tesla shares soared by 5% to $251. According to Forbes, the tech billionaire’s total net worth rose to $369.2 billion after the Tuesday Q1 report.