Trump has proposed to establish a government efficiency commission.
With another controversial social media post, Elon Musk has stoked controversy by raising the possibility of a political role in the event that Donald Trump wins the presidency again in November 2024.
The billionaire recently shared a meme on X that shows an AI-generated picture of Musk behind a desk with the words “D.O.G.E.”—an acronym for “Department of Government Efficiency”—written on a sign.
The post, which uses the term “Department of Government Efficiency” to play on political and cryptocurrency themes, has stoked rumors about Musk’s potential for public service.
Department of Government Efficiency pic.twitter.com/HFeHYNIkJN
— Elon Musk (@elonmusk) September 7, 2024
Doge Surges After Musk’s Tweet
The cryptocurrency that is closely linked to Musk, Dogecoin, experienced a significant increase after the meme was released, hitting a 24-hour high.
It hasn’t, however, yet reached its peak from earlier this week.
Trump’s recent proposal to create a government efficiency commission has added to the rumors.
In order to perform a thorough audit of the federal government’s finances and performance and suggest significant reforms, Trump has promised to establish this commission.
Musk retweeted a video of Trump’s announcement and said, “This is badly needed,” in response.
He did not explicitly confirm any official government role, but he did imply that he would be willing to contribute to such an initiative.
With a lighthearted reference to Musk’s schedule, Trump offered the possibility that Musk could lead the task force.
“Elon has agreed to head that task force because he is not very busy,” Trump stated, hinting at Musk’s possible participation should he have the time.
Even after Trump’s comments, it is unclear if Musk is actually considering a career in government.
Leading Tesla, SpaceX, and xAI in addition to managing Neuralink, The Boring Company, and the X social media platform are among Musk’s current responsibilities.
His recent actions, which include his controversial position on X.com in Brazil, his challenge to oppose Nicolás Maduro of Venezuela, and his ongoing legal battles with OpenAI and its CEO, Sam Altman, indicate a busy schedule.
It is to be seen whether any real plans for cooperation between Trump and Musk will take shape as the November election draws near.
Court Dismisses Doge Manipulation Claims Against Musk
Last week, Musk and his electric vehicle company Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by hyping the cryptocurrency dogecoin and conducting insider trading, causing billions of dollars of losses.
The lawsuit, which was submitted in 2022, claimed that Musk’s remarks on X damaged cryptocurrency investors by manipulating Dogecoin’s price.
The investors argued that Musk had made false claims, citing Dogecoin as possibly his favorite cryptocurrency, the cryptocurrency of the people, and the Earth’s future medium of exchange.
Several plaintiffs who joined the class action lawsuit requested triple damages of $172 billion in addition to $86 billion in damages.
US District Judge Alvin K. Hellerstein of the Southern District of New York ruled that the statements made were “aspirational and puffery, not factual and susceptible to being falsified.”