Elon Musk reveals the staggering amount he expects DOGE to save US taxpayers

Elon Musk has revealed the huge amount he expects US taxpayers to save as a result of the work of DOGE - aka the Department of Government Efficiency.

When Donald Trump was inaugurated as the 47th President of the United States on January 20, he also signed an executive order tasking Elon Musk to head up DOGE.

The initiative, set up to reduce federal spending, has already engaged in mass layoffs across the country, which has led to protests and uproar among federal employees.

Musk's work has been praised by Trump, with the president explaining last month: "Thank you, Elon. He’s working very hard. He didn’t need this. He didn’t need this. Thank you very much, we appreciate it.

"... Under the Trump administration, all of these scams — and there are far worse — but I didn’t think it was appropriate to talk about them. They’re so bad. Many more have been found out and exposed and swiftly terminated by a group of very intelligent, mostly young people headed up by Elon, and we appreciate it. We found hundreds of billions of dollars of fraud.

"And we’ve taken back the money and reduced our debt to fight inflation and other things — taken back a lot of that money. We got it just in time. This is just the beginning."

Now, Musk has revealed the huge amount of money that he expects the initiative to save US taxpayers.

At a Cabinet meeting this week, the Tesla CEO said that DOGE could save $150 billion in fiscal year 2026.

Meanwhile, according to the DOGE website, the agency has already saved each taxpayer $931.

"Thanks to your fantastic leadership, this amazing Cabinet and the very talented DOGE team, I'm excited to announce that we anticipate savings in FY 26 from reduction of waste and fraud by $150 billion," he said.

Musk has revealed how much each taxpayer has saved (Andrew Harnik/Getty Images)

Musk also listed some programs that had been uncovered.

"Like people getting unemployment insurance who haven't been born yet," he said.

"People ask me, like, well, how are you going to find waste, fraud and abuse in the federal in the government? I'm like, well, actually, just go in any direction.

"That's how you find it. It's very common. It's, as military would say, a target rich environment."

On April 2, rumors arose about Trump allegedly discussing Musk 'stepping back' from his current role.

Trump has praised Musk's work (Jabin Botsford/The Washington Post via Getty Images)

A report from Politico cited 'three Trump insiders' reporting that while the president is pleased with Musk's work with DOGE, both men had decided it would soon be time for him to leave.

However, any claims from inside the White House about Musk 'stepping down' were quickly squashed.

Trump has since addressed his departure, telling reporters while aboard Air Force One, as quoted by the Post: "I want Elon to stay as long as possible."