How much must Elon Musk lose before he gives up on DOGE and Trump?

Source Cryptopolitan

The political bromance between Elon Musk and Donald Trump could end in one of two ways: Horribly wrong or a great America. Have we seen this before? Yes, quite not really, but it was there with Joe Biden and Barrack Obama. How did that end? The last 4 years with Biden as president speak for themselves.

Tesla CEO Elon Musk and President Donald Trump, the world most wealthiest meets the world’s most powerful and opinionated leader. With Musk and Trump, it’s a relationship forged in power, influence, and a shared disdain for government bureaucracy. 

The two are jointly fighting against Washington’s red tape, or at least that’s what it looks like. Chatter on social media, sentiments from liberals, and what Trump likes to call “fake news media” say that Musk is leading a hostile takeover of the US government, and they expect it to lead to a fallout with POTUS.

But a fallout is just the beginning of what the world’s richest man can lose; He has businesses to run, and an empire to look after. Is getting deep into politics good for Elon? Maybe not.

The Musk-Trump bromance: 2024’s biggest highlight

Left-wing politicians will tell you that Musk’s backing of Trump was no casual endorsement: it was an investment. According to a Washington Post insight, the billionaire poured donations north of $288 million into Trump’s campaign, seeing in him a president willing to slash government oversight and push policies that favored the “will of the American people.”. 

In return, Musk secured not just influence in Washington, but a direct seat at the table. Trump tapped him to lead the Department of Government Efficiency, conveniently nicknamed “DOGE” (a nod to the meme cryptocurrency Musk has nursed to popularity).

Almost a month since the US President officially signed DOGE into office, Musk’s role in Washington looks far beyond “mere advisory duties.” His team of tech-savvy operatives, which democrats have labelled “young and underqualified,” have gained access to federal agencies, freezing budgets, cutting departments, and dismantling regulatory bodies, reportedly under Trump’s instructions. 

Agencies like USAID and the Consumer Financial Protection Bureau were shuttered overnight. Treasury and State Department data, including intelligence records and even employees’ private financial information, reportedly fell into DOGE’s hands.

Some are convinced DOGE is operating completely without oversight, a sentiment the 47th POTUS vehemently disagrees with.

CNN recently interviewed Trump alongside Musk to ask him if there was any friction between the two MAGAnomics front-runners. The former said he “knows they are trying to drive him and Elon apart,” referring to democratic party leaders who have been pushing the “President Elon Musk” narrative on news publications.

“We have breaking news, Donald Trump has ceded control of the Presidency to Elon Musk. President Musk will be attending a cabinet meeting,” joked Trump, “It’s just so obvious, they are bad at it. Because of they were good at it I’d never be President.”

So, is Musk really overshadowing the CIC of the United States? Well, that’s one way to look at it. But we know how much Trump likes to be heard, and if he is supportive of the US “First Buddy” ravaging through Washington D.C., then he probably thinks that’s what’s best for America.

What does Musk stand to lose?

When public sentiment finally turns, it is Musk, not Trump, who will likely bear the brunt of the backlash. The Tesla CEO’s aggressive push to overhaul the government, coupled with his “expressive” political statements, especially on X is beginning to tarnish his business empire.

Since peaking in December at $479.86 per share, the Tesla stock has plummeted 25.88%, closing at $355.84 this business week. A survey of potential car buyers, cited by Forbes revealed that two-thirds would not even consider purchasing a Tesla today.

Musk’s political entanglements, his hands-on involvement in Washington, and his brash style are turning off the very consumer base that made Tesla successful in the first place. No doubt Democrats will also urge their supporters to boycott anything to do with his businesses.

Stephen Gengaro of Stifel noted that Tesla’s future is closely tied to Musk’s brand, and right now, that brand is polarizing. “Democrats are skeptical of handing over government data to a non-elected billionaire,” he said, adding that Tesla’s target market overwhelmingly leans left. 

The damage isn’t limited to Tesla, it has trickled down to his net worth. Forbes’ recent calculations show that Musk’s net worth has gone down by $42.8 billion, although he is still over $100 billion richer than the world number two, Trump-aligned Mark Zuckerberg.

Despite the mounting losses, Musk insists he isn’t in fixing the US economy for the money, famously declaring, “Offer me money, offer me power, I don’t care.” His focus, he claims, is on reshaping government inefficiency, rooting out corruption, and leading a so-called “revolution of the people.”

Will Musk lose everything?

The consequences of Musk’s political gambit are becoming more apparent by the day. Lawsuits against DOGE’s activities are piling up, and concerns over constitutional overreach are following the trend. 

Supporters like popular podcaster Joe Rogan say the Tesla CEO isn’t going to “steal everyone’s money because he has $400B.” Let’s not forget he runs social media platform X, the go to public forum for agendas and opinions. His net worth might experience a little slump, but all the noise might not bring him completely down.

“He’s a super genius that has been messed with. When you’ve been f***** with by these nitwits that hide behind three-letter agencies, and you’re dealing with one of the smartest people alive helping Donald Trump get into office and find out what corruption is really going on, you messed up,” reiterated Rogan.

Vice President JD Vance’s recent suggestion that the White House could simply ignore court rulings has only fueled fears of a brewing crisis. Meanwhile, America’s foreign allies are growing uneasy over Musk’s unchecked influence, with some accusing him of meddling in global politics.

Despite it all, in Elon’s mind, this isn’t about Trump, it’s about his own vision for America. But with Tesla’s stock tumbling, his businesses facing boycotts, and even his closest allies questioning his endgame, the question remains: How much must Musk lose before he gives up on DOGE and Trump?

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Today’s Market Recap: U.S. Stocks Rebound as Nasdaq Gains 1.11%, Memory Chip Stocks Rally, SanDisk Jumps 5.5%U.S. stocks rebounded on Monday, October 19, following a sharp sell-off in AI infrastructure stocks last week, lifting the Nasdaq Composite and S&P 500.At the clo
Author  TradingKey
Yesterday 01: 25
U.S. stocks rebounded on Monday, October 19, following a sharp sell-off in AI infrastructure stocks last week, lifting the Nasdaq Composite and S&P 500.At the clo
placeholder
Dollar presses 102 as the 10-year yield sits at 5.14% — and October hike odds are only 17%The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.
Author  Irene Q.
Yesterday 05: 50
The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.
placeholder
Netflix earnings land tonight: the $70 line that decides whether the AI rebound has legsNetflix reports Q3 after the US close on October 20 with the stock at $69.85 (-0.96%), just below the $70 round number and far from its 52-week high of $124.86. Consensus looks for revenue near $12.87bn (+12%), EPS around $0.82 and a 33.2% operating margin, while options imply an 8.4% one-day move. With the Nasdaq up 1.11% and the SOX up 1.61% after an eight-day slide, the result is the first real test of the AI-led rebound. Here are the numbers, the $65 / $70 / $75 levels and the three checks that matter.
Author  Irene Q.
Yesterday 06: 25
Netflix reports Q3 after the US close on October 20 with the stock at $69.85 (-0.96%), just below the $70 round number and far from its 52-week high of $124.86. Consensus looks for revenue near $12.87bn (+12%), EPS around $0.82 and a 33.2% operating margin, while options imply an 8.4% one-day move. With the Nasdaq up 1.11% and the SOX up 1.61% after an eight-day slide, the result is the first real test of the AI-led rebound. Here are the numbers, the $65 / $70 / $75 levels and the three checks that matter.
placeholder
Tesla Q3 Earnings Preview: Can Auto Margins Stabilize? Wall Street’s Highest Price Target at $550Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th
Author  TradingKey
21 hours ago
Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 21, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 21, 2026. Read on for the details.
Author  Mitrade
5 hours ago
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 21, 2026. Read on for the details.
goTop
quote