Latest news with #Doge
Yahoo
an hour ago
- Business
- Yahoo
Elon Musk QUITS Donald Trump government amid 'big, beautiful bill' row
Billionaire businessman Elon Musk has quit Donald Trump's government - declaring that his time in the role has 'come to an end'. The owner of Tesla and X (formerly Twitter) served as a top advisor to President Trump, spearheading efforts to cut bureaucracy. Mr Musk has faced a backlash in recent months, with protests taking place at Tesla showrooms and sales of his company's cars plummeting. READ MORE: UK tourists face 'chaos' at Canary Islands airports during half-term getaway READ MORE: Russia issues WWIII threat to Donald Trump as tensions with Vladimir Putin explode But the final straw appears to be a row over what Mr Trump calls his 'big, beautiful bill' - which is designed to cut taxes and increase immigration enforcement. Mr Musk - who previously criticised the decision to impose certain high tariffs on other countries - described the new legislation as a 'massive spending bill' which 'undermines the work' of the Department of Government Efficiency (Doge), which the entrepreneur had been leading. In a statement posted on his social media website X, Mr Musk wrote: "As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending. 'The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.' A White House official, who requested anonymity to talk about the change, confirmed that Mr Musk was leaving. Speaking to CBS, Mr Musk described said the new bill would increase the federal deficit, adding: 'I think a bill can be big or it could be beautiful. But I don't know if it could be both.' His CBS interview came out on Tuesday night. Mr Trump, speaking in the Oval Office on Wednesday, defended his agenda by talking about the delicate politics involved with negotiating the legislation. 'I'm not happy about certain aspects of it, but I'm thrilled by other aspects of it,' he said. Mr Trump also suggested that more changes could be made. 'We're going to see what happens,' he said. 'It's got a way to go.' Republicans recently pushed the measure through the House and are debating it in the Senate. Mr Musk's concerns are shared by some Republican lawmakers. 'I sympathise with Elon being discouraged,' said Wisconsin senator Ron Johnson. Speaking at a Milwaukee Press Club event on Wednesday, Mr Johnson added that he was 'pretty confident' there was enough opposition 'to slow this process down until the president, our leadership, gets serious' about reducing spending. He said there was no amount of pressure Mr Trump could put on him to change his position. Speaker Mike Johnson has asked senators to make as few changes to the legislation as possible, saying that House Republicans reached a 'very delicate balance' that could be upended with major changes. The narrowly divided House will have to vote again on final passage once the Senate alters the bill. On Wednesday, Mr Johnson thanked Mr Musk for his work and promised to pursue more spending cuts in the future, saying 'the House is eager and ready to act on Doge's findings'. The White House is sending some proposed rescissions, a mechanism used to cancel previously authorised spending, to Capitol Hill to solidify some of Doge's cuts. Mr Musk's criticism comes as he steps back from his government work, rededicating himself to companies like the electric automaker Tesla and rocket manufacturer SpaceX. He has also said he will reduce his political spending, because 'I think I've done enough'. At times, he has seemed chastened by his experience working in government. Although he hoped that Doge would generate one trillion dollars in spending cuts, he has fallen far short of that target. 'The federal bureaucracy situation is much worse than I realised,' he told The Washington Post. 'I thought there were problems, but it sure is an uphill battle trying to improve things in DC, to say the least.' Mr Musk had previously been energised by the opportunity to reshape Washington. He wore campaign hats in the White House, held his own campaign rallies, and talked about excessive spending as an existential crisis. He often tended to be effusive in his praise of Mr Trump. 'The more I've gotten to know President Trump, the more I like the guy,' Mr Musk said in February. 'Frankly, I love him.' Join the Manchester Evening News WhatsApp group HERE Mr Trump repaid the favour, describing Mr Musk as 'a truly great American'. When Tesla faced declining sales, he turned the White House driveway into a makeshift showroom to illustrate his support. It is unclear what, if any, impact that Mr Musk's comments about the bill would have on the legislative debate. During the transition period, he helped whip up opposition to a spending measure as the country stood on the brink of a federal government shutdown. His latest criticism could embolden Republicans who want bigger spending cuts. Republican Utah senator Mike Lee reposted a Fox News story about Mr Musk's interview while also adding his own take on the measure, saying there was 'still time to fix it'. 'The Senate version will be more aggressive,' Mr Lee said. 'It can, it must, and it will be. Or it won't pass.' Only two Republicans - representatives Warren Davidson of Ohio and Thomas Massie of Kentucky - voted against the bill when the House took up the measure last week. Mr Davidson took note of Mr Musk's comments on social media. 'Hopefully, the Senate will succeed with the Big Beautiful Bill where the House missed the moment,' he wrote. 'Don't hope someone else will cut deficits someday, know it has been done this Congress.'
&w=3840&q=100)
First Post
3 hours ago
- Business
- First Post
Back to business: What awaits Elon Musk as he departs Doge and Washington?
After a tumultuous and controversial time, Elon Musk has announced his exit from Doge and the Trump administration. His departure comes a day after he criticised US President Donald Trump's 'big, beautiful bill'. Is there trouble brewing between the two? What will Musk do next? read more Billionaire Elon Musk said Wednesday that his time as formal adviser to US President Donald Trump has now come to an end. File image/AP 'My scheduled time as a special government employee comes to an end,' wrote Elon Musk on X on Wednesday, announcing that his time as formal adviser to President Donald Trump has now come to an end. This marks the end of the billionaire's turbulent run at attempting to slash the federal government. Notably, Musk's exit comes just a day after he was vocal in his criticism of President Donald Trump's signature spending bill, saying it counters the work he's been doing to reduce wasteful government spending. He told CBS News, 'I was, like, disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decrease it, and undermines the work that the Doge team is doing.' STORY CONTINUES BELOW THIS AD 'I think a bill can be big or it can be beautiful, but I don't know if it can be both. My personal opinion,' Musk said in the interview. Musk's exit from the administration has been confirmed by a White House official, who said: 'The off-boarding process has begun.' As Trump bids adieu to his 'First Buddy', we look to the future — what comes next for the Tesla chief and X owner. Becoming Trump's 'First Buddy' and Doge leader In July 2024, Elon Musk endorsed Trump as presidential candidate seconds after an assassination attempt took place against him at a campaign rally in Butler, Pennsylvania. Since then, the two have been inseparable with the tech billionaire even accompanying Trump on stage — bouncing and jumping in support of Trump. Then, days after Trump was announced the winner in the US presidential elections, he announced that Musk would be leading the new Department of Government Efficiency , also known as Doge with the mandate to slash federal government spending, waste and regulations. Tesla CEO and X owner Elon Musk reacts next to Republican presidential nominee Donald Trump during a campaign rally in Butler, Pennsylvania last October. File image/AP As Doge leader, Musk was often seen with Trump — at Cabinet meetings, at the Conservative Political Action Conference (CPAC) and the US president even gave Musk a shoutout during his joint address to Congress, applauding his work at Doge. But Musk's time at Doge was controversial — he eliminated some agencies and removed tens of thousands of federal workers from their jobs. However, the initiative fell short of its own high expectations for cost savings. Trump originally set a deadline of July 4, 2026 to Doge to achieve what Musk had promised —$2 trillion in savings. However, the billionaire then downgraded that to $1 trillion and then further to $150 billion. STORY CONTINUES BELOW THIS AD Musk's work at Doge has also drawn several lawsuits and questions of conflict of interest. In fact, his time at Doge caused a severe backlash, which was most visible to his Tesla business. Vehicle sales fell, stock plummeted, and cars and showrooms were vandalised. But despite it all, Musk continued his slashing efforts until now — May 28. Demonstrators rally against US President Donald Trump and his adviser Elon Musk during a 'Hands Off!' protest, in Asheville, North Carolina. File image/Reuters Musk's exit from Doge and future of Doge On May 28, Musk called time on his Doge stint, writing on X, 'I would like to thank President Donald Trump for the opportunity to reduce wasteful spending,' adding, 'The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.' In fact, even in his previous interviews, the X owner has said that Doge would continue even after his exit. 'Doge is a way of life, like Buddhism,' he joked once during a briefing, suggesting that the effort would proceed even after his exit. 'Buddha isn't alive anymore. You wouldn't ask the question: 'Who would lead Buddhism?'' US President Donald Trump with Tesla CEO Elon Musk with his son X Æ A-12, at the White House in Washington. File image/Reuters And even others seem to concur that Doge and its efforts would continue despite Musk's departure. Peter Diamond, a federally licensed tax, accounting, real estate, and structure and certified bankability expert, was quoted as saying earlier, 'Elon [Musk] is a master at building high-performing teams and putting mechanisms in place that outlive his involvement. 'Just look at PayPal — it's still thriving decades later. If he chooses to step away from Doge, it won't be a spur-of-the-moment decision.' STORY CONTINUES BELOW THIS AD Even Andrew Lokenauth, money expert and founder of Be Fluent in Finance, noted that Musk leaving Doge isn't the end of the agency. 'From my analysis of internal operations, Doge's structure was heavily dependent on Musk's personal involvement (about 65 per cent of major decisions required his direct input). The organisation will need major restructuring.' Musk's pivot back to business But what happens to Musk himself? What does the exit from the Trump administration mean for the billionaire himself? The last few months will provide you with an answer — as Musk has already been stepping away and distancing himself from the administration and Doge. In the last few recent interviews, Musk has emphasised his recommitment to leading SpaceX, Tesla, and the artificial intelligence company xAI. The world's richest person claimed that he was back to working around the clock at his companies – to the point of sleeping in conference rooms and factory offices once again. US President Donald Trump with Tesla CEO Elon Musk ahead of a state dinner hosted by Qatar's Emir Tamim bin Hamad Al Thani, at Lusail Palace in Lusail, Qatar. File image/Reuters He also attempted to explain away the shortcomings of Doge. For instance, he told the Washington Post on Tuesday, 'The federal bureaucracy situation is much worse than I realised. I thought there were problems, but it sure is an uphill battle trying to improve things in DC, to say the least.' STORY CONTINUES BELOW THIS AD Musk also told the Post that Doge had been turned into a 'whipping boy' that was criticised for anything that went wrong under the Trump administration. In another interview, Musk admitted: 'I think I probably did spend a bit too much time on politics.' There are also other reports coming in that the billionaire had been put on a deadline by Tesla investors, who asked the board to make him work full-time. As per The Washington Post report, a group of activist Tesla shareholders sent a letter to board chair Robyn Denholm, asking for a guarantee that Musk would devote at least 40 hours a week to the company. The Washington Post further added that the letter was signed by SOC Investment Group. His recent comments also reflect what's to be expected of Musk. Musk claims he will focus on saving humanity through technologies like self-driving cars, interplanetary rockets and humanoid robots. The Guardian put it best: 'Rather than dwell on a year of missed targets and intense backlash, Musk is back to selling a future where anything is possible.' STORY CONTINUES BELOW THIS AD With inputs from agencies
The National
3 hours ago
- Business
- The National
Donald Trump's rocket man is coming back down to earth with a bump
I'm talking of course about the Trump-Musk bromance, which never flourished more than at the height of the last US presidential election campaign. In fact, for a while it seemed Elon Musk had become a sort of de facto US vice-president in waiting. He was everywhere, both during the campaign and in the early days of the administration. Be it in the Oval Office, Air Force One or cabinet meetings, there was no Donald Trump without Musk by his side. But all that it seems has now changed, albeit not with a bang or whimper but with a strange fading away. Musk now is barely referenced by Trump or his White House team. If anything the opposite is true. READ MORE: Kneecap axed from TRNSMT over 'police concerns' Musk's heavy criticism this week of the administration's latest spending proposal – Trump has dubbed one 'big, beautiful bill' – is a case in point. But there are other gripes too between the billionaire and the president as well. For example, back in the day of election promises, Trump and Musk promised US taxpayers big savings, maybe even a 'Doge dividend' payoff when the newly formed Department of Government Efficiency was let loose on the federal government with Musk at its helm. That as we now know has not come to pass and in fact far from achieving its touted $2 trillion savings, Doge looks likely to end up costing the American taxpayer an additional $135 billion this year. As for actual federal spending, this has risen to $154bn, more than in the same period in 2024 during the administration of former president Joe Biden. As one top Trump ally quoted by Politico magazine recently put it candidly about Musk and Doge: 'We got too close to the fence. We mowed too far ... We just adjust. That's the process that's going on'. The bottom line here is that in Trump world, there is no time wasting when it comes to dumping overboard anybody who has out-served their usefulness. As Gideon Lichfield, former editor of the technology and political magazine Wired, recently observed, 'clashing with the president on tariffs, alienating members of the cabinet, and failing to swing a state judicial race despite pouring $25 million into it may have made Musk something of a liability'. As Lichfield also observed, when viewed from Musk's perspective, getting in tow with Trump and Doge might have seemed like a great way of using an insider position to 'win contracts, gain intel on competitors, and shoulder pesky regulators out of his companies way'. READ MORE: Andrew Tate and brother Tristan both charged with rape by UK police But in the end, even though Musk did gain substantially in financial and contractual terms, when offset against the potential losses that might result from sticking with Trump, meant both men would almost certainly come to a crossroads and have different priorities and trajectories. While Trump's own polls so far are not in themselves good, Musk's have revealed him to be a lightning rod in national politics and deeply unpopular with the public. During his re-election bid, Trump saw Musk as someone needed to help fill the campaign war chest and used the tech giant's global online platforms to gain influence and shape public opinion. How interesting now then that Trump is no longer using Musk's name to bring in money. Since early March mentions of Musk in fundraising appeals have stopped abruptly compared with near-daily mentions just a month before. 'He's finished, done, gone. He polls terrible. People hate him,' said one GOP operative who was granted anonymity to speak frankly to Politico magazine. 'He'd go to Wisconsin thinking he can buy people's votes, wear the cheese hat, act like a nine-year-old ... It doesn't work. It's offensive to people,' the official was quoted as saying, showing just how much Musk appears to have fallen out of favour. But as Musk sees it however, Doge has simply become the 'whipping boy for everything'. Then again too there is also the sense that the world's richest man wants to get back to doing what he thinks he does best – making money. Musk though has always been his own worst enemy, and like many I have little sympathy for the reputational hit his companies took when he has been more than happy to flaunt his neo-Nazi sympathies these past months. 'People were burning Teslas. Why would you do that? That's really uncool,' poor old Elon bleated recently in an interview with The Washington Post. But as Edward Luce, US national editor of the Financial Times pointed out, Musk seemed almost oblivious to the fact that the 'London spoof advertising campaign that called Tesla a 'Swasticar – from zero to 1939 in three seconds' – came in reaction to his far-right boosterism, not to his war on bureaucracy'. No-one doubts then that Musk's public profile has declined, but that by no means suggests he lacks access to or has clout within the Trump administration. READ MORE: FOI reveals Anas Sarwar failed to raise £5bn welfare cuts with Rachel Reeves Just recently for example, he was among the tech CEOs to join Trump on his Saudi Arabia jaunt shaking hands with other rich folk and leaders. Doubtless also Trump will call on him again should he be needed, and Musk, like the president, will always have one eye on the potential profits. It's a pretty fair bet for example that Musk will not want to cut off his nose to spite his face given that his SpaceX and two partners have emerged as frontrunners to win a crucial part of Trump's 'Golden Dome' missile defence shield as reports suggest. Musk's net worth is said to have fallen by about $130bn since Trump came back to the White House. But now that the president's feet are well and truly ensconced beneath the 'Resolute Desk' of the Oval Office, Musk for now has put away his chainsaw and gone back to being a 'rocket man'. But even here things are not going well, given that last Tuesday Musk's SpaceX's Starship, the largest and most powerful rocket ever built came a cropper while coming down during a test flight. Musk then is back down to earth with a bump and the bromance is on hold. As I said at the start though, I won't deny a certain perverse pleasure in watching the slow breakup of both.
North Wales Chronicle
3 hours ago
- Business
- North Wales Chronicle
Elon Musk leaves Trump administration after criticising ‘big beautiful bill'
The billionaire entrepreneur posted about his decision on X, his social media website. 'As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,' he wrote. 'The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.' A White House official, who requested anonymity to talk about the change, confirmed that Mr Musk was leaving. Mr Musk's departure comes one day after he criticised the centrepiece of Mr Trump's legislative agenda, saying he was 'disappointed' by what the president calls his 'big beautiful bill'. The legislation includes a mix of tax cuts and enhanced immigration enforcement. While speaking to CBS, Mr Musk described it as a 'massive spending bill' that increases the federal deficit and 'undermines the work' of his Department of Government Efficiency (Doge). 'I think a bill can be big or it could be beautiful,' Mr Musk said. 'But I don't know if it could be both.' His CBS interview came out on Tuesday night. Mr Trump, speaking in the Oval Office on Wednesday, defended his agenda by talking about the delicate politics involved with negotiating the legislation. 'I'm not happy about certain aspects of it, but I'm thrilled by other aspects of it,' he said. Mr Trump also suggested that more changes could be made. 'We're going to see what happens,' he said. 'It's got a way to go.' Republicans recently pushed the measure through the House and are debating it in the Senate. Mr Musk's concerns are shared by some Republican lawmakers. 'I sympathise with Elon being discouraged,' said Wisconsin senator Ron Johnson. Speaking at a Milwaukee Press Club event on Wednesday, Mr Johnson added that he was 'pretty confident' there was enough opposition 'to slow this process down until the president, our leadership, gets serious' about reducing spending. He said there was no amount of pressure Mr Trump could put on him to change his position. Speaker Mike Johnson has asked senators to make as few changes to the legislation as possible, saying that House Republicans reached a 'very delicate balance' that could be upended with major changes. The narrowly divided House will have to vote again on final passage once the Senate alters the bill. On Wednesday, Mr Johnson thanked Mr Musk for his work and promised to pursue more spending cuts in the future, saying 'the House is eager and ready to act on Doge's findings'. The White House is sending some proposed rescissions, a mechanism used to cancel previously authorised spending, to Capitol Hill to solidify some of Doge's cuts. Mr Musk's criticism comes as he steps back from his government work, rededicating himself to companies like the electric automaker Tesla and rocket manufacturer SpaceX. He has also said he will reduce his political spending, because 'I think I've done enough'. At times, he has seemed chastened by his experience working in government. Although he hoped that Doge would generate 1 trillion dollars in spending cuts, he has fallen far short of that target. 'The federal bureaucracy situation is much worse than I realised,' he told The Washington Post. 'I thought there were problems, but it sure is an uphill battle trying to improve things in DC, to say the least.' Mr Musk had previously been energised by the opportunity to reshape Washington. He wore campaign hats in the White House, held his own campaign rallies, and talked about excessive spending as an existential crisis. He often tended to be effusive in his praise of Mr Trump. 'The more I've gotten to know President Trump, the more I like the guy,' Mr Musk said in February. 'Frankly, I love him.' Mr Trump repaid the favour, describing Mr Musk as 'a truly great American'. When Tesla faced declining sales, he turned the White House driveway into a makeshift showroom to illustrate his support. It is unclear what, if any, impact that Mr Musk's comments about the bill would have on the legislative debate. During the transition period, he helped whip up opposition to a spending measure as the country stood on the brink of a federal government shutdown. His latest criticism could embolden Republicans who want bigger spending cuts. Republican Utah senator Mike Lee reposted a Fox News story about Mr Musk's interview while also adding his own take on the measure, saying there was 'still time to fix it'. 'The Senate version will be more aggressive,' Mr Lee said. 'It can, it must, and it will be. Or it won't pass.' Only two Republicans — representatives Warren Davidson of Ohio and Thomas Massie of Kentucky — voted against the bill when the House took up the measure last week. Mr Davidson took note of Mr Musk's comments on social media. 'Hopefully, the Senate will succeed with the Big Beautiful Bill where the House missed the moment,' he wrote. 'Don't hope someone else will cut deficits someday, know it has been done this Congress.'
RTHK
4 hours ago
- Automotive
- RTHK
Musk ends Trump administration role on inglorious note
Musk ends Trump administration role on inglorious note Elon Musk with his chainsaw at the Conservative Political Action Conference in Maryland in February. File photo: AFP Billionaire Tesla chief executive Elon Musk is leaving the Trump administration after leading a tumultuous efficiency drive, during which he upended several federal agencies but ultimately failed to deliver the generational savings he had sought. His "off-boarding will begin tonight," a White House official said late on Wednesday, confirming Musk's departure. Musk earlier in the day took to his social media platform X to thank President Donald Trump as his time as a special government employee with the Department of Government Efficiency (Doge) draws to an end. His departure was quick and unceremonious. He did not have a formal conversation with Trump before announcing his exit, according to a source, who added that his departure was decided "at a senior staff level". While the precise circumstances of his exit were not immediately clear, he leaves a day after criticizing Trump's marquee tax bill, calling it too expensive and a measure that would undermine his work with Doge. Some senior White House officials, including deputy chief of staff Stephen Miller, were particularly irked by those comments, and the White House was forced to call Republican senators to reiterate Trump's support for the package, a source said. While Musk remains close to the president, his exit comes after a gradual, but steady slide in standing. After Trump's inauguration, the billionaire quickly emerged as a powerful force in Trump's orbit: hyper-visible, unapologetically brash and unfettered by traditional norms. At the Conservative Political Action Conference in February, he brandished a red metallic chainsaw to wild cheers. "This is the chainsaw for bureaucracy," he declared. On the campaign trail, Musk had said Doge would be able to cut at least US$2 trillion in federal spending. He did not hide his animus for the federal workforce, and he predicted that revoking "the Covid-era privilege" of telework would trigger "a wave of voluntary terminations that we welcome". But some cabinet members who initially embraced Musk's outsider energy grew wary of his tactics, sources said. Over time, they grew more confident pushing back against his job cuts, encouraged by Trump's reminder in early March that staffing decisions rested with department secretaries, not with Musk. Musk clashed with three of Trump's most senior cabinet members – Secretary of State Marco Rubio, Transportation Secretary Sean Duffy and Treasury Secretary Scott Bessent. He called Trump's trade adviser Peter Navarro a "moron" and "dumber than a sack of bricks". At the same time, Musk began to hint that his time in government would come to a close, while expressing frustration at times that he could not more aggressively cut spending. In an April 22 Tesla conference call, he signaled he would be significantly scaling back his government work to focus on his businesses. (Reuters)
