By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > News > Elon Musk steps down from Trump administration
News

Elon Musk steps down from Trump administration

News Room
Last updated: 2025/05/28 at 11:54 PM
By News Room
Share
3 Min Read
SHARE

Unlock the White House Watch newsletter for free

Your guide to what Trump’s second term means for Washington, business and the world

Elon Musk is formally stepping down from his role in the Trump administration after just five months, ending a tumultuous period during which he oversaw cost-cutting by the so-called Department of Government Efficiency.

In a post on Wednesday on X, Musk, who began scaling back his work at Doge last month, said: “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 world’s richest man was a “special government employee”, a category within the US civil service that restricts staff from working for more than 130 days in a year for the administration.

However Musk originally intended to lead Doge until next summer, and officials believed there were workarounds to keep him on board for longer, according to people familiar with the matter.

Musk seemed to suggest that the initiative would continue without him, adding on X: “The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.”

A White House official said that Musk’s “off boarding” had begun. 

Musk originally pledged to cut up to $2tn from the annual federal budget, or almost one-third of all government spending. As of May, Doge had only claimed $175bn in savings, and many of the line items that made up that figure were found to be unverifiable by the Financial Times.

The Tesla chief executive has in recent weeks blamed lawmakers for Doge’s slow progress and criticised the House Republican tax bill that passed last week — Trump’s top priority in Congress.

Non-partisan estimates have found that the bill, which still needs to go through the Senate, would add more than $3.3tn over the next decade to the US deficit.

“I think a bill can be big, or it can be beautiful,” Musk told CBS in an interview that will air on Sunday. “But I don’t know if it can be both.”

Musk, who has a net worth of more than $428bn according to Forbes, was Trump’s top donor in the 2024 campaign and spent more than $250mn to boost his candidacy. He recently said he intended to spend a “lot less” on campaigns in the future, and that he had “done enough” donating to political causes. 

In recent weeks, Musk has committed to returning “24/7” to his businesses, after Tesla in particular suffered a sharp sales slump in part due to his association with the Trump administration.

Read the full article here

News Room May 28, 2025 May 28, 2025
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Israel-Iran latest: Iran and Israel exchange fresh strikes as conflict escalates

Iran’s Revolutionary Guards have threatened “more forceful and expansive” attacks against Israel…

Donald Trump’s show of military might prompts fears of over-reach

Before a crowd of cheering soldiers at an event that seemed more…

Bessent: U.S. has a spending problem, not a revenue problem

Watch full video on YouTube

Thousands protest across US against Trump’s ‘authoritarian’ policies

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

How AI’s Need For Nuclear Energy Is Fueling A Rise In U.S. Uranium Mining

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

Israel-Iran latest: Iran and Israel exchange fresh strikes as conflict escalates

By News Room
News

Donald Trump’s show of military might prompts fears of over-reach

By News Room
News

Thousands protest across US against Trump’s ‘authoritarian’ policies

By News Room
News

Iran strikes leave Israelis shaken but resolute

By News Room
News

UK moves jets to Middle East after Iran threat

By News Room
News

Minnesota state lawmaker and husband killed by gunman dressed as police officer

By News Room
News

Investors Watch Out For Core Retail Sales, With Accenture And Kroger Set To Report Earning

By News Room
News

Israel warns ‘Tehran will burn’ as Netanyahu hints at regime change

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?