Musk's administration allies become targets
Elon Musk's allies inside the Trump administration are newly vulnerable after the mogul's bitter public breakup with the president.
MAGA loyalists are taking advantage of the Trump-Musk rift to threaten the standing of anyone in the administration who's perceived as too close to the Tesla CEO. Leading that charge is former Trump adviser Steve Bannon, whose long-running animosity toward Musk peaked last week with the former calling to deport Musk from the US and the latter deeming Bannon a 'Communist retard.'
Among the potential Bannon targets: David Sacks, the venture capitalist tapped by Trump as artificial intelligence and cryptocurrency czar. Sacks has invested in Musk's SpaceX and, like Musk, is a member of the so-called PayPal Mafia (early PayPal employees and founders who are a Silicon Valley force).
'You're dangerous. It's all about you, not the country,' Bannon recently said on his War Room podcast of Sacks and his All-In Podcast co-hosts.
But the administration's close ties to the crypto industry and Sacks' help to the Trump campaign mean he's likely to avoid the chopping block.
'As a trusted ally and early supporter of President Trump, David Sacks sacrificed a thriving entrepreneurial career to serve as the President's AI and Crypto Czar,' White House spokesman Harrison Fields said in a statement, adding that Sacks 'is deeply committed to advancing the president's vision' on both issues.
That leaves lesser-known figures brought in by Musk to bear the brunt of the speculation about more exits — talk that Silicon Valley is monitoring closely, and with good reason.
One person familiar with the situation told Semafor that there are ongoing conversations inside the administration 'regarding the future of some of these big names that came to the federal government in that wave of Elon coming here.'
This person described possible forthcoming departures as more of a 'mutual separation' than a forced ouster. A number of Musk allies are still working with the Department of Government Efficiency, and officials are said to be cognizant of those who may now have conflicts of interests or dualing loyalties.
The White House's longer-term goal in the wake of the Trump-Musk spat is to underscore that DOGE 'isn't just a fad,' this person added, and some in the administration are discussing ways to separate its mission from 'the personality behind the original initiative.'
'Maybe we don't call it DOGE,' the person suggested. 'The mission is what we want to stay focused on.'
Sacks hosted Trump for a fundraiser last summer at his home on San Francisco's Billionaire Row, cementing his role as a tech industry conduit to the White House. He's got a rare office in the White House complex, two sources told Semafor, and is playing a lead role in shepherding crypto legislation through Congress — as well as drafting a long-awaited administration report, expected in July, that will shape other industry-friendly policies.
Sacks 'brought Silicon Valley to the table with him well before Musk jumped on board' the Trump campaign, one tech industry insider said. Since then, 'he has avoided all of the third rails that Musk grabbed' by focusing his efforts on cementing crypto-friendly policy and competing with China on AI.
That hasn't stopped Bannon from going after him, particularly after the All-In podcast — co-hosted by Sacks and a favorite stop for administration officials — scrapped plans to release an episode about the Trump-Musk battle.
'Folks like Bannon are trying to drive a wedge between tech right and MAGA right,' said one crypto executive, who was granted anonymity to speak candidly. 'I don't see it sticking.'
A spokesperson for the White House Office of Science and Technology Policy, where part of Sacks' work is housed, did not respond to requests for comment.
A number of other top DOGE staffers departed the administration when Musk did, including Katie Miller — the wife of Trump's influential deputy chief of staff, Stephen Miller. It's clear that, even before Trump and Musk traded barbs last week, the administration expected a shift in staff once the tech mogul left Washington.
But any remaining administration players who are tied to Musk can't be breathing entirely easy yet, given that conversations are ongoing about how to shape DOGE more in Trump's image than his former friend's.
In that sense, the MAGA right may not have to push too hard to get some people Musk hired out of the administration.
Still, it seems unlikely Bannon will succeed in expanding his manhunt to people as senior as Sacks, who was Team Trump long before Musk — and who has ties to industries like crypto that the administration wants to keep close.
Bannon will need the backing of much heavier hitters if he wants to bring down Sacks.
Bannon and his wing of the GOP — including agitator Laura Loomer — have proved more influential than initially predicted.
'Influence comes from the people. When you have the people's support, you're influential,' Rep. Marjorie Taylor Greene, R-Ga., said in February. 'He's a big voice of MAGA, and that's helpful for the President's agenda. He's someone that pushes back when people aren't in line.'
Some DOGE staffers are worried about being cut in the wake of the Trump-Musk feud, The Wall Street Journal recently reported.
Trump and his administration remain firmly behind DOGE's efforts despite the drama with Musk himself, The New York Times reported.
Trump pulled NASA administrator nominee Jared Isaacman, a Musk ally, shortly after the tech billionaire left the White House, Semafor scooped.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
17 minutes ago
- Bloomberg
ABC News Drops Correspondent Terry Moran Over Anti-Trump Post
By Updated on Save Walt Disney Co. 's ABC News division said it parted ways with Washington-based correspondent Terry Moran over comments he made on social media over the weekend about President Donald Trump and White House Deputy Chief of Staff Stephen Miller. Moran had been suspended after calling both Trump and Miller, a key player in the administration's immigration policy, a ' world class hater.' An immigration crackdown in Los Angeles has sparked protests in America's second-largest city, prompting the administration to send in federal troops.
Yahoo
20 minutes ago
- Yahoo
Why Evonik Industries AG (ETR:EVK) Could Be Worth Watching
Let's talk about the popular Evonik Industries AG (ETR:EVK). The company's shares received a lot of attention from a substantial price movement on the XTRA over the last few months, increasing to €22.25 at one point, and dropping to the lows of €17.81. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether Evonik Industries' current trading price of €19.38 reflective of the actual value of the large-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let's take a look at Evonik Industries's outlook and value based on the most recent financial data to see if there are any catalysts for a price change. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Evonik Industries appears to be expensive according to our price multiple model, which makes a comparison between the company's price-to-earnings ratio and the industry average. In this instance, we've used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock's cash flows. We find that Evonik Industries's ratio of 30.2x is above its peer average of 21.56x, which suggests the stock is trading at a higher price compared to the Chemicals industry. In addition to this, it seems like Evonik Industries's share price is quite stable, which could mean two things: firstly, it may take the share price a while to fall back down to an attractive buying range, and secondly, there may be less chances to buy low in the future once it reaches that value. This is because the stock is less volatile than the wider market given its low beta. View our latest analysis for Evonik Industries Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let's also take a look at the company's future expectations. With profit expected to more than double over the next couple of years, the future seems bright for Evonik Industries. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation. Are you a shareholder? It seems like the market has well and truly priced in EVK's positive outlook, with shares trading above industry price multiples. However, this brings up another question – is now the right time to sell? If you believe EVK should trade below its current price, selling high and buying it back up again when its price falls towards the industry PE ratio can be profitable. But before you make this decision, take a look at whether its fundamentals have changed. Are you a potential investor? If you've been keeping an eye on EVK for a while, now may not be the best time to enter into the stock. The price has surpassed its industry peers, which means it is likely that there is no more upside from mispricing. However, the positive outlook is encouraging for EVK, which means it's worth diving deeper into other factors in order to take advantage of the next price drop. With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. While conducting our analysis, we found that Evonik Industries has 2 warning signs and it would be unwise to ignore them. If you are no longer interested in Evonik Industries, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


New York Post
20 minutes ago
- New York Post
Newsom goes scorched earth against Trump in address accusing prez of ‘brazen abuse of power'
California Gov. Gavin Newsom ripped into President Trump Tuesday for a 'brazen abuse of power' by deploying troops to Los Angeles and claimed his political rival is intentionally causing ongoing chaos in the city. The Democratic governor heightened his feud with Trump during a Tuesday night address while pleading with protesters to remain peaceful as the city grapples with outright lawlessness and Mayor Karen Bass imposed a curfew in the downtown area to clamp down on rioting and looting. Anti-Immigration and Customs Enforcement demonstrations began last Friday in response to federal raids against illegal migrants in the West Coast city and quickly spiraled out of control – leading Trump to deploy 4,000 National Guard troops, and then 700 United States Marines over Newsom's objections. 3 Newsom issued a rebuke of Trump on Tuesday night. AP 'This brazen abuse of power by a sitting president inflamed a combustible situation, putting our people, our officers, and even our National Guard at risk,' Newsom argued. 'That's when the downward spiral began. He doubled down on his dangerous National Guard deployment by fanning the flames even harder. And the president, he did it on purpose.' Newsom insisted while there was violence when protests first erupted, local authorities largely had the situation under control before Trump stepped in. Trump's actions spurred unrest and placed 'theatrics over public safety,' the left gov. claimed. Newsom has filed legal actions to stop the controversial deployment. While Newsom was issuing a defiant rebuke against Trump, the president vowed to 'liberate' Los Angeles while delivering a speech at Fort Bragg Tuesday. 3 Broken glass lies on the floor of a cannabis store after it was looted in LA. REUTERS He said the federal government would 'use every asset at our disposal to quell violence and restore law and order.' The two have been lobbing attacks at each other since the weekend as Los Angeles has faced a mix of fiery protests, looting, vandalism and clashes with police. Newsom stressed authorities have already arrested more than 200 people and are looking to take more into custody. 3 The rioting has led to a curfew in part of the city. Toby Canham for NY Post He pleaded with protesters not to turn to violence. 'If you incite violence – and I want to be clear about this – if you incite violence or destroy our communities, you're going to be held to account. That type of criminal behavior will not be tolerated, full stop.' With Post wires