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Elon Musk has announced that DOGE will investigate the personal wealth of Democratic members of Congress, questioning how some accumulate millions while earning around $200,000 annually. Scott's wealth primarily comes from co-founding Solantic, a network of urgent care centers, and HCA Healthcare, which operates hospitals and medical services in Florida.
Elon Musk's initiative to reduce federal spending by $1 trillion by May is poised to significantly affect the U.S. aerospace and defense sector, according to UBS. The potential cuts could reshape funding and investment within the industry, leading to widespread implications.
Elon Musk is merging xAI and X (formerly Twitter) in an all-stock deal valuing xAI at $80bn and X at $33bn. While xAI has little revenue, its valuation reflects current tech excitement, and shareholders will receive 70% and 30% of the combined entity, respectively. Musk's control over both companies raises questions about the fairness of the exchange ratio amidst inflated valuations.
Elon Musk's potential revival of the Vine app has sparked a surge in Vine Coin, created by co-founder Rus Yusupov, which saw a 122% increase over three days, reaching a market cap of $55 million. Despite initial excitement, the coin's value has since dropped significantly from its peak. Meanwhile, other meme coins like TRUMP and MELANIA have also experienced notable gains in a stagnant cryptocurrency market.
Elon Musk is intensifying his response to anti-Tesla protests, calling for the arrest of those funding the demonstrations, which he claims are orchestrated by wealthy Democratic opponents. He specifically accused Reid Hoffman of financial involvement, a claim Hoffman denied, suggesting Musk should address his own issues instead. The protests, part of the Tesla Takedown movement, have also seen participation from Europeans, some of whom have vandalized Tesla property in reaction to Musk's political affiliations.
Elon Musk stated that the federal government has no plans to utilize Dogecoin, despite his support for the cryptocurrency. He clarified that while there was speculation about a connection between Dogecoin and the Department of Government Efficiency, the two are unrelated. Musk's advocacy for Dogecoin has previously led to legal challenges, but a class action lawsuit against him was dismissed.
Elon Musk announced plans for the Department of Government Efficiency (DOGE) to investigate how certain members of Congress have amassed significant wealth despite modest salaries. He raised concerns about potential financial misconduct involving funds from the US Agency for International Development, suggesting a circuitous route of money that may benefit lawmakers. Musk's visit to Wisconsin also included support for conservative judicial candidate Brad Schimel, where he distributed $1 million checks to draw attention to his campaign against "activist judges."
Elon Musk and venture capitalist Antonio Gracias revealed that over 2 million non-citizens received new Social Security numbers in FY 2024, claiming this was part of a larger effort to alter the voting landscape in the U.S. Musk criticized the Biden administration for enabling this influx, suggesting it aimed to create a permanent Democratic majority. The event in Green Bay, Wisconsin, also featured Musk distributing million-dollar checks to attendees who signed his political petition, further emphasizing his involvement in the upcoming Supreme Court election.
Tesla's stock fell by as much as 6% amid concerns over President Trump's impending 25% tariffs on foreign autos, with CEO Elon Musk acknowledging the significant impact on the company. Analysts predict lower EV deliveries for the March quarter, with estimates ranging from 353,418 to 390,342 vehicles, as waning sentiment towards Musk and competition from Chinese EV makers like BYD weigh on sales. Additionally, protests against Musk and the anticipation of new models are contributing to short-term sales challenges.
Elon Musk has clarified that Dogecoin is not associated with the newly established US Department of Government Efficiency (D.O.G.E.), stating that the similarity in names is purely coincidental. He emphasized that there are no plans for the government to utilize Dogecoin, despite speculation that arose following the agency's launch and a brief appearance of the Dogecoin logo on the D.O.G.E. website. Following Musk's comments, Dogecoin experienced a slight decline in value, reflecting broader trends in the crypto market.
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Elon Musk targets wealthy Democrats over questionable financial gains
19:44 31.03.2025
musk's spending cuts could significantly affect aerospace and defense sectors
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musk's xai and x merger raises questions of valuation and ownership equity
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Elon Musk hints at Vine revival as meme coin surges 122 percent
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Elon Musk clarifies no government plans for Dogecoin use
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Elon Musk investigates wealth of Congress members amid election campaign efforts
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