Buffett, Gates and Bezos Dumping Stocks

The world's wealthiest individuals are making huge moves with their money. Warren Buffett just liquidated billions of shares. Bill Gates sold 500,000 shares of Microsoft. Jeff Bezos filed to sell Amazon shares worth $4.8 billion. What is going on? One multi-millionaire believes they are preparing for a catastrophic event. But not a crash, bank run, or recession. It's something we haven't see in America for more than a century.

Musk could be headed for a Washington exit after turbulent times at Trump's DOGE

CHRIS MEGERIAN
April 02, 2025

WASHINGTON (AP) -- DOGE's days appear to be numbered.

Elon Musk recently suggested that he will be done with his work in the near future. President Donald Trump told reporters this week that "at some point, he's going to be going back" to running his companies. As far as the Department of Government Efficiency, Trump said "it will end."

All of that talk was before Musk faced a setback Tuesday in Wisconsin, where voters rejected his choice for a state Supreme Court candidate despite more than $21 million in personal donations and his campaign appearance over the weekend. There are more problems for the billionaire entrepreneur at Tesla, his electric automaker, which saw a 13% drop in sales in the first three months of the year.

The White House has not disclosed any clear timeline for closing down DOGE, and the government cost-cutting organization was never supposed to become a permanent fixture in Washington. But it could be reaching a conclusion faster than anticipated. DOGE was originally intended to operate until July 4, 2026.

Now there are signs that it already is winding down. DOGE employees have been shifted to various federal agencies, which are supposed to take the lead on cutting costs. Government-wide layoffs are underway to accomplish some of the goals laid out by Musk and Trump.

"We think probably over the next two or three months, we'll be pretty much satisfied with the people that are working hard and want to be members of the administration," Trump said last week.

The potential end of DOGE does not mean Trump will stop shaking up Washington. But it appears the administration's efforts will be entering a new phase that is less focused on Musk, whose chain saw-wielding work as a presidential adviser made him a political lightning rod.

DOGE was initially envisioned as an independent advisory panel, with Musk sharing leadership with Vivek Ramaswamy, a biotech entrepreneur. Ramaswamy dropped out and is running for Ohio governor, and DOGE became part of the government. It was stocked with Musk's allies, who were dispatched throughout the bureaucracy to cancel contracts, access sensitive data and push for cuts.

Musk presumably has a ticking clock on his tenure. He was hired as a special government employee, which means he can only work 130 days in a 365-day time period.

"I think we will have accomplished most of the work required to reduce the deficit by a trillion dollars within that time frame," Musk told Bret Baier of Fox News on March 27. So far DOGE is well short of that target, according to its own calculations, which have been criticized as inflated and inaccurate.

Musk did not commit to leaving the administration by any particular date, and it is unclear how the administration is tracking Musk's time. On May 30, it will be 130 days since Trump's inauguration on Jan. 20.

Trump told reporters on Monday in the Oval Office that "I'd keep him as long as I could keep him" and "he's a very talented guy."

The Republican president was known for explosive breakups with top advisers during his first term, but anyone hoping for such a split with Musk has been disappointed.

"I think he's amazing, but I also think he's got a big company to run," Trump said. "And so, at some point, he's going to be going back."

Asked if DOGE would continue without Musk, Trump demurred. He said Cabinet officials have worked closely with Musk and may keep some of the DOGE people at their agencies.

"But at a certain point I think it will end," Trump said.

Musk's poll numbers lag behind Trump's, which Democrats believe they were able to use to their advantage in Wisconsin.

Susan Crawford defeated Brad Schimel, who Musk supported, and ensured the state Supreme Court's liberal majority.

In the closing days of that campaign, Musk described the race as "important for the future of civilization." He struck a different tone afterward.

"I expected to lose, but there is value to losing a piece for a positional gain," Musk wrote on X at 3:13 a.m.

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