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Yahoo
2 days ago
- Business
- Yahoo
Elon Musk leaves the Trump administration, capping his run as federal government slasher
WASHINGTON − Elon Musk has officially left the Trump administration, capping the billionaire tech entrepreneur's turbulent four-month run leading a contentious effort to slash the federal government. Musk, who had already scaled back his role with the Department of Government Efficiency, announced his departure in a May 28 post on X. It comes as his designation as a "special government employee" ‒ which allowed him to stay on the job for 130 calendar days a year ‒ has ended. "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 said. "The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government." A White House official confirmed Musk's exit, telling USA TODAY, "The offboarding process has begun." More: Elon Musk bemoans DOGE becoming Trump administration's 'whipping boy' As the head of DOGE and a senior White House adviser, Musk led the effort to gut the government of what he called "waste and fraud" and reduce the federal workforce. DOGE, which is staffed by more than 100 government employees, is set to continue operating without Musk in charge. But it was unclear how much power the group will maintain without its famous leader. Musk already had shifted his attention back to his business empire. Tesla, his electric car company, suffered financial losses after he became a polarizing figure as President Donald Trump's chief sidekick. This week, Musk took part in a blitz of media interviews from the headquarters of his company SpaceX in South Texas, coinciding with the latest test flight of his Starship spacecraft. The day before his departure, Musk broke with Trump by criticizing his massive tax and spending bill that the president has dubbed the "big, beautiful bill." The bill, which includes Trump's domestic agenda on items ranging from border security to tax cuts, passed the House along party lines. It now heads to the Senate. "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 said in an interview May 27 on "CBS Sunday Morning." The nonpartisan Congressional Budget Office estimated the bill would add $3.8 trillion to the national debt over the next 10 years. '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, the richest man in the world and a Republican megadonor who helped bankroll Trump's 2024 campaign, last week said he intends to substantially cut back his political spending in future elections as he focuses more time on his businesses. "I think in terms of political spending, I'm going to do a lot less in the future," Musk said May 20 at the Bloomberg News Qatar Economic Forum. "I think I've done enough." DOGE has boasted of saving the federal government more than $175 billion through cuts ‒ though the group's declared savings have often been exaggerated or misleading. The office has dismantled entire federal agencies, axed government contracts and led the firings of tens of thousands of federal workers. Musk downplayed the effect his absence could have on DOGE's survival during an interview with USA TODAY and other media outlets earlier in May. "Is Buddha needed for Buddhism?" Musk asked. "DOGE is a way of life."Reach Joey Garrison on X @joeygarrison. This article originally appeared on USA TODAY: Elon Musk leaves the Trump White House after turbulent run in power
CBS News
3 days ago
- Business
- CBS News
Trump and Elon Musk to appear in Oval Office as DOGE leader exits government
Elon Musk says he and Trump administration sometimes have "differences of opinion" Washington — President Trump is set to address reporters in the Oval Office alongside Elon Musk as the billionaire's tenure as a "special government employee" comes to an end. Musk announced earlier this week on X, the social media site he owns, that he would be finishing his time at the White House and thanked Mr. Trump for "the opportunity to reduce wasteful spending," an initiative led by the White House's Department of Government Efficiency. The world's richest man said DOGE's mission "will only strengthen over time as it becomes a way of life throughout government." The president confirmed on social media that Musk's last day will be Friday but added the caveat that "he will, always, be with us, helping all the way." A senior administration official said Musk was set to begin his offboarding process Wednesday night. His departure marks a return to the private sector, and Musk will continue as an adviser to the president, the official said. As a special government employee, Musk was limited to working 130 days in a 365-day period. His 130th day is May 30. But in his time serving as a senior adviser to the president and leading DOGE, Musk roiled Washington through his team's unsparing cuts to the federal workforce, cancellation of billions of dollars in federal grants and contracts, and dismantling of several agencies, even if some of those actions have been blocked by the courts. While Musk came into the second Trump administration with a lofty promise of cutting $1 trillion from the federal budget — and even wielded a "chainsaw for bureaucracy" on stage at the Conservative Political Action Conference in February — he leaves with a tally falling far short of that goal. The CEO of Tesla and SpaceX has said that DOGE's government-slashing efforts have saved roughly $160 billion in spending, but its "wall of receipts" documenting spending cuts has contained errors. And an analysis from the nonpartisan Partnership for Public Service estimated that DOGE's actions could actually cost the government $135 billion as a result of lost productivity and changes in the status of federal workers. Some have been mistakenly fired, only to be rehired again. Still, Musk's time has been punctuated by a series of events that showcased his closeness with the president. He participated in Cabinet meetings at the White House, traveled on Air Force One with Mr. Trump and, joined by his son "Lil X," addressed reporters in the Oval Office. The president also showcased Tesla vehicles on the driveway at the White House and said he would purchase a red Model S and praised Musk during his joint address to Congress earlier this year for his work heading DOGE. But Musk has in recent days publicly split from Mr. Trump over his sweeping domestic policy package, which the president calls his "big beautiful bill," that passed the House last week. "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 said during an interview with "CBS Sunday Morning." An analysis from the Congressional Budget Office estimated that the tax provisions of the package, called the "One Big Beautiful Bill Act," would increase the deficit by $3.8 trillion by 2034. "I think a bill can be big or it can be beautiful," Musk told CBS News, "but I don't know if it can be both. My personal opinion."
CBS News
3 days ago
- Business
- CBS News
Trump and Elon Musk to appear in Oval Office as DOGE leader exits Washington
Elon Musk says he and Trump administration sometimes have "differences of opinion" Washington — President Trump is set to address reporters in the Oval Office alongside Elon Musk as the billionaire's tenure as a "special government employee" comes to an end. Musk announced earlier this week on X, the social media site he owns, that he would be finishing his time at the White House and thanked Mr. Trump for "the opportunity to reduce wasteful spending," an initiative led by the White House's Department of Government Efficiency. The world's richest man said DOGE's mission "will only strengthen over time as it becomes a way of life throughout government." The president confirmed on social media that Musk's last day will be Friday but added the caveat that "he will, always, be with us, helping all the way." A senior administration official said Musk was set to begin his offboarding process Wednesday night. His departure marks a return to the private sector, and Musk will continue as an adviser to the president, the official said. As a special government employee, Musk was limited to working 130 days in a 365-day period. His 130th day is May 30. But in his time serving as a senior adviser to the president and leading DOGE, Musk roiled Washington through his team's unsparing cuts to the federal workforce, cancellation of billions of dollars in federal grants and contracts, and dismantling of several agencies, even if some of those actions have been blocked by the courts. While Musk came into the second Trump administration with a lofty promise of cutting $1 trillion from the federal budget — and even wielded a "chainsaw for bureaucracy" on stage at the Conservative Political Action Conference in February — he leaves with a tally falling far short of that goal. The CEO of Tesla and SpaceX has said that DOGE's government-slashing efforts have saved roughly $160 billion in spending, but its "wall of receipts" documenting spending cuts has contained errors. And an analysis from the nonpartisan Partnership for Public Service estimated that DOGE's actions could actually cost the government $135 billion as a result of lost productivity and changes in the status of federal workers. Some have been mistakenly fired, only to be rehired again. Still, Musk's time has been punctuated by a series of events that showcased his closeness with the president. He participated in Cabinet meetings at the White House, traveled on Air Force One with Mr. Trump and, joined by his son "Lil X," addressed reporters in the Oval Office. The president also showcased Tesla vehicles on the driveway at the White House and said he would purchase a red Model S and praised Musk during his joint address to Congress earlier this year for his work heading DOGE. But Musk has in recent days publicly split from Mr. Trump over his sweeping domestic policy package, which the president calls his "big beautiful bill," that passed the House last week. "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 said during an interview with "CBS Sunday Morning." An analysis from the Congressional Budget Office estimated that the tax provisions of the package, called the "One Big Beautiful Bill Act," would increase the deficit by $3.8 trillion by 2034. "I think a bill can be big or it can be beautiful," Musk told CBS News, "but I don't know if it can be both. My personal opinion."
The Independent
4 days ago
- Business
- The Independent
With Elon Musk out of the picture – what happens to DOGE now?
On Wednesday evening, Elon Musk announced on X that his time as part of the Department of Government Efficiency was officially at an end. As a Special Government Employee, he is restricted to serving 130 days – a period which was due to finish this week. However, as well as thanking Donald Trump for the opportunity to 'reduce wasteful spending,' Musk wrote that: 'The @ DOGE mission will only strengthen over time as it becomes a way of life throughout the government.' So what will happen to the controversial government agency now that its de-facto chief is stepping down? Here's what we know: Will DOGE continue? The agency's crusade to slash wasteful government spending isn't going anywhere, according to White House press secretary Karoline Leavitt. Musk and Trump previously characterized DOGE, formerly the U.S. Digital Service, as 'tech support' to end 'waste, fraud and abuse.' DOGE is not so much an agency as an idea, according to the White House. Employees within federal agencies are doing its work and, despite media perception, Musk has simply functioned as an adviser. Speaking to reporters on Thursday, Leavitt said that although Musk was leaving the agency the 'entire cabinet' were still committed to DOGE's core values 'That's why they were working hand in hand with Elon Musk, and they'll continue to work with the respective DOGE employees who have onboarded as political appointees at all of these agencies,' she said: 'So surely, the mission of DOGE will continue.' So who will lead DOGE and will Musk's staffers stay? Leavitt reiterated at Thursday's briefing that the DOGE leaders 'are each and every member of the President's Cabinet and the President himself,' who were all 'wholeheartedly committed to cutting waste, fraud and abuse from our government.' Questions about a specific leader of DOGE had swirled following the additional departure of Musk's right-hand man at the agency, Steve Davis. Davis had been a key leader at the agency and handled day-to-day operations including hiring and firing, staffers told The Wall Street Journal, adding that he had helped guide the work of the DOGE engineers working across various agencies. In addition, The Journal reported that much of the work done by DOGE will now be undertaken by the Office of Management and Budget – which is headed up by director Russell Vought. Vought has worked closely alongside Musk since 2024 and the two have driven the administration's vision of slashing the federal workforce and reducing spending. As far as Musk's underlings were concerned, Leavitt highlighted that many were now 'political appointees and employees of our government.' 'To the best of my knowledge, all of them intend to stay and continue this important work,' she said. What has the reaction been to the departure? While Musk did receive an outpouring of gratitude from fans on his own social media site, who hailed him as 'courageous' and 'a true American patriot,' others were less impressed. 'Finally rooting out waste and abuse,' former Democratic vice presidential candidate Tim Walz joked in response to the news, with Democratic rep. Jasmine Crockett echoing the sentiment. 'Elon came to Washington thinking he could run the government like one of his companies—firing people left and right, gutting essential services, and tearing this s*** up from the ground up,' she wrote. 'It's time for a full investigation into the damage he's caused and for the truth to come to light.' 'Elon Musk in government is completely unprecedented, but there has never been a single person, certainly not a single non-presidential person, who has been as utterly and pointlessly destructive as Elon Musk,' Robert Weissman, co-executive director of Public Citizen, a progressive consumer rights advocacy group, previously told The Independent. 'He has commercial motivations,' he said, 'but primarily he's been engaged in an authoritarian wrecking project with no actual purpose, but really deadly impact.' Trump and the White House did not specifically respond to Musk's announcement, but a spokesperson directed The Independent to Leavitt's comments at Thursday's press briefing.
Yahoo
4 days ago
- Business
- Yahoo
Musk Departs US Government With His Business Empire in Flux
(Bloomberg) -- Billionaire Elon Musk said Wednesday that his time as formal adviser to President Donald Trump is coming to a close, raising questions about the future of the Department of Government Efficiency effort he spearheaded. NYC Congestion Toll Brings In $216 Million in First Four Months NY Wins Order Against US Funding Freeze in Congestion Fight NY Congestion Pricing Is Likely to Stay Until Year End During Court Case '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 posted on X, his social media platform. 'The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.' By law, Musk's status as a temporary government official was set to run out as soon as May 30, although the exact date was subject to an accounting of his actual days worked. A White House official familiar with the move, speaking on condition of anonymity to discuss a personnel matter, said Musk began the off-boarding process Wednesday night and cast the departure as a decision the technology entrepreneur made on his own with the support of the president. Earlier: Musk Says He's 'Disappointed' That Trump Tax Bill Raises Deficit The move comes shortly after Musk gave an interview critical of Trump's biggest legislative priority — the tax cut proposal known as the 'One Big Beautiful Bill' — as not doing enough to reduce federal deficits. Tesla Inc. on Wednesday night also railed against 'abruptly ending' the US's energy tax credits, which the EV maker has benefited from over the last few years. Many congressional Republicans have pushed for the rollback of certain clean energy and solar tax credits as a way to minimize the impacts of the tax and spending bill. Musk's campaign to slash the size of the US government sent shockwaves through Washington, with some agencies eliminated outright and tens of thousands of federal workers purged or convinced to accept buyouts, but the initiative fell short of its own high expectations for cost savings. Trump originally gave the effort a sunset date of July 4, 2026, allowing DOGE nearly 18 months to find what Musk originally promised would be $2 trillion in savings. Musk later downgraded that ambition to $1 trillion — and then even further to $150 billion. Musk, 53, has joked that his White House title was 'chief nothing officer' and maintained he was not essential to the mission. But he quickly became a lightning rod for critics of the venture who focused on the optics of the world's richest man working to help dismantle the government's workforce and functions. Trump and Musk have previously declined to lay out a succession plan for DOGE. The project was Musk's brainchild — even down to the acronym that paid homage to an internet-famous dog meme that's long been an object of his obsession. 'DOGE is a way of life, like Buddhism,' he joked during one 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?'' The three top lieutenants he brought to that interview — Steve Davis, Antonio Gracias and Anthony Armstrong — have taken up key DOGE outposts at the General Services Administration, Social Security Administration and the Office of Personnel Management. Those agencies have been among the most active in implementing DOGE's anti-fraud, cost-cutting mission. DOGE's work has drawn lawsuits over its authority and access to government data and some claims about cost savings have been inaccurate, sparking questions about accountability at the endeavor. Musk has also faced questions regarding conflicts of interest for a tech entrepreneur whose varied business interests already make him a major player in federal contracts. The backlash against Musk over his high-profile political work sparked concerns among investors over the fallout for his companies, most prominently Tesla. Vehicle sales fell to a nearly three-year low in the first quarter of the year and the stock price plummeted, leading many Wall Street analysts to slash growth expectations. Tesla cars, showrooms and charger stations endured protests and acts of vandalism, with the Cybertruck being a particular target for critics of Musk. Trump and allies have rallied around the CEO, including an event on the White House grounds where the president viewed different Tesla models before settling on buying a a red Model S, in many ways an unprecedented spectacle. Musk has openly acknowledged the challenges of managing his businesses — Tesla, SpaceX, XAI Holdings, Neuralink and The Boring Co. — along with his work in Washington. The Tesla CEO told investors in April that he would soon devote 'far more' of his time to the automaker, sending shares in the company higher. Earlier this month, the billionaire told Bloomberg News in an interview that he now planned to pull back on political spending because 'I think I've done enough.' --With assistance from Mark Chediak. (Updates with post from Tesla on tax credits, in fifth paragraph.) Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P. Sign in to access your portfolio
