Elon Musk walked back his previous claim that he could cut at least $2 trillion from the federal budget, saying Wednesday that half that amount would be “an epic outcome.”

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While campaigning for Donald Trump in October, Elon Musk claimed he could slash “at least $2 trillion” in government spending. Now that Musk has started laying the groundwork for his so-called “Department of Government Efficiency,

It's no secret that Elon Musk has been playing a big role in the soon-to-be Donald Trump administration. Musk, the world's richest man, endorsed Trump ahead of the 2024 presidential election. He spent Election Night hanging out with the president-elect.

Musk's Tesla stake rose by $111 billion — 65% — last year. All but $2 billion of Musk’s Tesla gain and about 98% of what other Tesla shareholders gained came after Election Day, when Musk began hanging out extensively with Donald Trump and started calling himself Trump’s “first buddy.

Elon Musk is having an unprecedented run of success. Thanks to the massive successes of his companies, Tesla and SpaceX, as well as the purchase of the popular social media website Twitter, Musk recently became the first person to ever have their net worth pass $400 billion.