Elon Musk Set to Step Back from U.S. Government Role Under Trump Administration
Elon Musk, the billionaire CEO of Tesla and SpaceX, is expected to step away from his special government role in the administration of U.S. President Donald Trump, according to a report by Politico. Citing sources close to the matter, the report suggests that both Trump and Musk recently agreed on his departure, though no exact date has been given.
Musk’s Role in Government
Musk was appointed by Trump as a special government employee tasked with cutting government spending and restructuring federal agencies. His term was expected to last 130 days, which would end by late May. However, sources indicate that Musk will soon return to focusing on his business ventures.
Trump acknowledged Musk’s contributions but hinted at his eventual departure, telling reporters on Monday, “I think he’s amazing, but I also think he’s got a big company to run. At some point, he’s going to be going back. He wants to.”
Impact on Markets
Following the news of Musk’s potential exit, shares of various government contracting companies experienced a boost. Tesla shares, which had initially dropped due to a decline in first-quarter deliveries, rebounded by 3% after the Politico report was released.
Musk recently stated in an interview with Fox News that he was confident in completing most of his goal to reduce $1 trillion in federal spending before his exit. His role in reshaping government financial policies has been closely watched by both investors and political analysts.
What’s Next for Musk?
Although Musk’s tenure in government may be coming to an end, his influence on U.S. policy and the economy remains significant. His leadership in the tech and space industries, as well as his outspoken political views, continue to shape debates on innovation, regulation, and fiscal responsibility.
Neither Musk nor the White House has responded to requests for comment regarding his departure. However, as the end of his 130-day term approaches, all eyes remain on whether he will finish his ambitious cost-cutting agenda before stepping back into the corporate world.
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Elon Musk Set to Step Back from U.S. Government Role Under Trump Administration