Latest news with #Tesla
Zawya
25 minutes ago
- Business
- Zawya
Elon Musk leaving Trump administration, capping turbulent tenure
WASHINGTON - Billionaire Tesla CEO 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 told Reuters late Wednesday, confirming Musk's departure from government. Musk earlier on Wednesday 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 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 with knowledge of the matter, 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 the U.S. DOGE Service. 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 familiar with the matter 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 $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." Navarro dismissed the insults, saying, "I've been called worse." 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. DOGE GOES ON Musk's 130-day mandate as a special government employee in the Trump administration was set to expire around May 30. The administration has said DOGE's efforts to restructure and shrink the federal government will continue. "The DOGE mission will only strengthen over time as it becomes a way of life throughout the government," Musk said. Trump and DOGE have managed to cut nearly 12%, or 260,000, of the 2.3 million-strong federal civilian workforce largely through threats of firings, buyouts and early retirement offers, a Reuters review of agency departures found. Musk on Tuesday criticized the price tag of Republicans' tax and budget legislation making its way through Congress. "I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing," Musk told CBS News. His political activities have drawn protests and some investors have called for him to leave his work as Trump's adviser and more closely manage Tesla, which has seen falls in sales and its stock price. Musk, the world's richest person, has defended his role as an unelected official who was granted unprecedented authority by Trump to dismantle parts of the U.S. government. Having spent nearly $300 million to back Trump's presidential campaign and other Republicans last year, he said earlier this month he would substantially cut his political spending. "I think I've done enough," Musk said at an economic forum in Qatar. (Reporting by Nandita Bose, David Shepardson and Kanjyik Ghosh; Editing by Chris Sanders and Stephen Coates)
News18
25 minutes ago
- Business
- News18
From Frenemy To Fanboy To Fallout: Elon Musk's Rollercoaster Ride With Trump Explained
Last Updated: Elon Musk is set to exit the Trump administration. The duo were not besties since ever as they hurled insults at each other until some years ago. Tesla CEO Elon Musk is set to exit the Donald Trump administration as his term comes to a close by the end of May. A lot took place during his short tenure as a government employee, as his much-talked-about bromance with the US President appeared to sour towards the end of his term. Nonetheless, he expressed gratitude to Trump for giving him the opportunity to reduce wasteful spending in the government. '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," Musk posted on X, announcing his exit. After his victory in the 2024 Presidential election, Trump announced Musk to lead the Department of Government Efficiency, DOGE, as a 'Special Government Employee", which allows a person to work in the government capacity for 130 days a year. advetisement Since the January 20 inauguration, Musk has worked closely with Trump to reduce government spending. However, lately he has had some public disagreements with Trump, including the law proposed by the government, which Trump dubbed a 'big beautiful bill". Musk's relationship with Trump has not been rosy since ever, with the duo hurling insults at each other not too long ago, until the Tesla CEO ended up endorsing Trump as a candidate for the US President last year. A look at how critics turned 'besties" and then the ultimate fallout. Pre-Trump-Musk Bromance Era In 2016, Musk was not the biggest fan of his future bestie, as he publicly said that Trump was not fit to run for the US President. 'I feel a bit stronger that he is not the right guy. He doesn't seem to have the sort of character that reflects well on the United States," Musk had told CNBC during an interview at that time. However, his doubts didn't seem to last long. Just a month after Trump won his first election, Musk was appointed to an economic advisory council by Trump, along with Uber CEO Travis Kalanick. In June 2017, the duo's professional relationship took a hit after Trump announced that the US would be withdrawing from the Paris Climate Agreement, as Musk went on to tender his resignation from his positions on the presidential advisory boards. 'Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world," Musk then tweeted. 2022 saw see-saw remarks by Trump about Musk as he described Musk as one of the world's 'great geniuses" in January that year, while also likening him to Thomas Edison. However, by July, Trump flipped his stance to refer to Musk as 'another bulls*** artist". Advertisement While speaking about free speech at a rally in Anchorage, Alaska, Trump talked about Musk's promise to buy the social media platform formerly known as Twitter. 'Elon is not going to buy Twitter… he said the other day 'Oh, I've never voted for a Republican'. I said 'I didn't know that'. He told me he voted for me. So he's another bulls*** artist," Trump said. Musk responded to the video clip, 'I don't hate the man, but it's time for Trump to hang up his hat & sail into the sunset." By October, Musk officially completed the acquisition of Twitter. Timeline Of Musk's Tenure With Trump By September 2023, Musk started aligning himself with Trump's policies, including those on immigration. He spoke in favour of a US border wall with Mexico, which was a hot topic during the election campaign. advetisement 'We actually do need a wall and we need to require people to have some shred of evidence to claim asylum to enter, as everyone is doing that…" Musk said. In March 2024, Musk had said that he would not donate to either candidate in the presidential election. However, in July, when Trump survived an assassination attempt at a rally in Butler, Pennsylvania, the billionaire extended support to Trump. Soon after bullets were fired at Trump, during which he suffered injuries to his right ear, Musk endorsed the Republican leader and committed nearly $45 million a month to a new pro-Trump super PAC called America PAC. In October 2024, Musk made his first public appearance with Trump at a rally and jumped onto the stage, donning a black 'Make America Great Again' cap. 'As you can see, I'm not just MAGA — I'm dark MAGA," he told the crowd. advetisement Musk has also attended the Cabinet meetings chaired by Trump, during which he detailed the work being done by his department to cut down spending. He had joined the administration with a promise to cut at least $1 trillion from the US federal budget. However, according to the DOGE website, it has only saved around $175 billion so far — which comes out to about $1,088.96 for each US taxpayer. During the first Cabinet meeting in February this year, he even claimed that he was getting death threats for the work they were doing for the department. 'I'm taking a lot of flak and getting a lot of death threats, by the way. We simply cannot sustain, as a country, $2 trillion deficits," he had said. Tesla Boycott After Musk joined Trump's second term as DOGE chief, his department either fired or offered early retirement deals to around 100,000 federal workers. It also gained access to the private personal and financial details of millions of Americans. As Musk became a firm voice of the administration, Tesla bore the brunt as its facilities across the country faced protests and vandalism. Thousands of citizens hit the roads in parts of the US, launching 'Tesla Takedown" protests – many of them were peaceful, however, some were even violent with fires intentionally set at Tesla showrooms and charging stations in Colorado and Massachusetts. Hundreds of protesters had also occupied a Tesla showroom in New York, leading to the arrest of six persons. Trump-Musk Fallout Musk had recently expressed his 'disappointment" with the Trump administration's main legislative plan, which the President described as a 'big beautiful bill". This legislation included tax cuts and tougher immigration policies. In a CBS interview, Musk described it as a 'massive spending bill" that he believed would increase the national debt and hurt the progress his DOGE team had been working on. 'I think a bill can be big or it could be beautiful. But I don't know if it could be both," Musk said. Reacting to Musk's remarks, Trump still backed the bill, stating, 'I'm not happy about certain aspects of it, but I'm thrilled by other aspects of it." top videos View All Sources earlier told Mediate that Trump is now becoming 'annoyed" with his 'first buddy" after Musk engaged in a public spat with other members of the MAGA over H1B visas. '100 percent Trump is annoyed," a source who worked on Trump's re-election campaign told the outlet earlier this year. Watch India Pakistan Breaking News on CNN-News18. Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! tags : donald trump elon musk Location : Washington D.C., United States of America (USA) First Published: May 29, 2025, 07:50 IST News world From Frenemy To Fanboy To Fallout: Elon Musk's Rollercoaster Ride With Trump Explained
Business Insider
25 minutes ago
- Business
- Business Insider
Elon Musk says his time as a government employee is coming to an end and thanks Trump
The "first buddy" is standing down. Elon Musk said Wednesday he plans to leave the Trump administration, ending his time at the White House DOGE office focused on cutting spending and reshaping the federal government. The announcement came a day after Musk criticized President Donald Trump's "big beautiful bill" for undermining the White House DOGE team's work and adding to the deficit. The billionaire has also signaled he plans to focus more of his efforts on his companies and that he plans to reduce his political spending. "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," Musk wrote in a post on X on Wednesday. "The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government." A White House official confirmed that Musk's offboarding was beginning. The Tesla and SpaceX CEO previously said he would be stepping back from his government work in May. Musk was designated a " special government employee." Federal law stipulates that those with this title cannot serve for more than 130 days in a 365-day period. The tech titan had been closely involved in the White House DOGE office 's efforts to cut government spending and eliminate fraud and waste. Musk has also recently said he spent "too much time" on politics this year and that he plans to cut back his political spending. The billionaire spent at least $277 million supporting Trump and the GOP in the 2024 election. Musk said in an X post on Saturday that he was back to "spending 24/7 at work and sleeping in conference/server/factory rooms," to the relief of Tesla investors. Tesla's share price has been on the rise since his announcement in April that he'd be stepping back from his White House work. The company had been targeted by boycotts and protests over its CEO's work with the White House DOGE office.
Time of India
30 minutes ago
- Automotive
- Time of India
Tesla targets June 12 launch for robotaxi service in Austin
Tesla is poised to begin its long-awaited robotaxi service in Austin on June 12, Bloomberg News reported on Wednesday, citing a person familiar with the matter. The date has been discussed internally and could still change, the report added. Tesla did not immediately respond to a Reuters request for comment. Earlier this month, CEO Elon Musk said the EV maker is set to begin a test of its long-promised robotaxi service on schedule in Austin, Texas, by the end of June. A successful robotaxi trial is crucial for Tesla as Musk has shifted the company's focus away from building a new, cheaper EV platform to launching the robotaxi service and its Optimus humanoid robots . Much of Tesla's valuation hangs on that bet. Tesla sales have fallen worldwide with rising competition and as Musk faces a backlash for his political views and his role as an adviser to U.S. President Donald Trump.
Yahoo
40 minutes ago
- Business
- Yahoo
Elon Musk leaves Trump's team
Elon Musk has stepped down from his role in Donald Trump's government. A White House spokesman confirmed on Wednesday that the billionaire entrepreneur was leaving the administration and that 'off-boarding will begin tonight'. In an announcement posted on social media, Mr Musk said that his 'scheduled time as a special government employee' was coming 'to an end'. He thanked the US president 'for the opportunity to reduce wasteful spending' through his appointment to the Department of Government Efficiency (Doge). 'The Doge mission will only strengthen over time as it becomes a way of life throughout the government,' Mr Musk wrote on X. Mr Trump did not immediately comment on the departure, and a source told Reuters that Mr Musk had made the announcement prior to any formal exit conversation with the president. Mr Musk's 130-day mandate as a special government employee was set to expire around May 30. His departure comes days after he criticised the price tag of Republicans' tax and budget legislation making its way through Congress. The Tesla founder said earlier this week that he was 'disappointed to see the massive spending Bill, which increases the budget deficit, and undermines the work that the Doge team is doing'. The comments were part of his broader criticism of Mr Trump's 'big, beautiful bill', which has promised to deliver $4.5 trillion (£3.3 trillion) worth of tax cuts while significantly increasing America's deficit. Mr Musk has previously warned that the world's largest economy was going 'bankrupt' as a result of its $36.2 trillion debt pile, echoing similar concerns made by economists since Mr Trump came to power. He told the Joe Rogan podcast in January: 'If we don't act, the entire government budget will be used just to pay interest.' In April, Mr Trump reportedly told his closest allies, including members of his cabinet, that he was aware the Tesla billionaire would leave the administration. Both men had agreed that it was time for Mr Musk to develop an exit strategy and return to his businesses, Politico reported at the time. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
