Elon Musk · Fortune Technology
Elon Musk’s DOGE swiped $329 million in humanitarian funding from Nepal, leaving a Gen Z tech revolution to transform the
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When the Department of Government Efficiency, helmed by Elon Musk, gutted the U.S. Agency for International Development (USAID), it included slashing an estimated $329 million in humanitarian aid to Nepal.
Key facts
- Aid has also come in the form of tech companies contributing to the Prime Minister’s Disaster Relief Fund, including $10 million from Nvidia and $460,000 from BYD and its Nepal distributor Cimex
- To be sure, Basnyet said USAID’s absence is “noticeable
- In 2025, Nepal exported about $1 billion in information technology products, and Thapa said the government has the goal to bring that total to $20 billion over the next 10 years
- Through 2025, the country approved nearly 7,500 foreign investment projects worth about $5.5 billion
Summary
When the Department of Government Efficiency, helmed by Elon Musk, gutted the U.S. Agency for International Development (USAID), it included slashing an estimated $329 million in humanitarian aid to Nepal. “Everyone went through denial first that this was even happening, to deep grievance at how it was being done,” she told Fortune. According to Basnyet, USAID’s closure led to an estimated 30,000 direct job losses in the country. “How do you use all of the skills and the experience you’ve gained in different ways to create an environment where you still felt like you had dignity, second life, all of the knowledge and relationships, within a short period of time?” Basnyet said. The answer lay in Nepal’s private sector.