Musk is back to business ‘24/7’

After months of spearheading the Department of Government Efficiency (DOGE) and trying to cut $2 trillion from the federal government budget, Elon Musk recently posted that he is back “24/7 at work” to focus on his companies: SpaceX, Tesla and X social media platform.

The move comes as his companies face turmoil.

SpaceX’s Tuesday Starship test flight spun out of control 35 minutes into the mission. Although the 400-foot rocket went farther than the previous two tests, it capped another failed test flight for the rocket.

It was the ninth flight of the rocket and the third failed test since January. The failed mission throws a wrench into Musk’s plan of landing humans on Mars.

Tesla witnessed a series of setbacks. The EV maker faced boycotts around the world, and several dealerships were vandalized after DOGE laid off thousands of workers. In April, Tesla’s sales in Europe dropped 49%.

The company’s Q1 revenue dropped 20% from last year to $14 billion. Its stock is down 24% since December.

X is suffering, too. The platform faced outages over the Memorial Day weekend. The social media app has seen its user traffic reduce by around 8% since the 2024 presidential election.

However, Musk is optimistic he can turn things around. Speaking at the Qatar Economic Forum last week, he stated that Tesla’s sales were rebounding and its market cap crossed $1 trillion again.

Musk is still the world’s richest person, according to the Forbes billionaires list. Tesla shares rose nearly 7% on the weekday after he posted about returning to his companies.

Musk has also voiced disappointment at President Trump’s “big, beautiful” legislation. He told CBS Sunday Morning that the massive spending bill “undermines the work that the DOGE team is doing.”