Musk drops out of Trumpworld as fiscal tensions boil over

Mace | 29th May 2025 | International, Washington
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Elon Musk has stepped down from his advisory role in the Trump administration after criticising a major tax and spending bill. His departure ends a 130-day tenure focused on federal cost-cutting and coincides with investor pressure to refocus on Tesla and SpaceX amid recent business challenges and political tensions.

Elon Musk has concluded his tenure as a senior adviser to President Donald Trump, stepping down from his role in the Department of Government Efficiency (DOGE) after 130 days—the maximum duration permitted for a special government employee. His departure follows public criticism of the administration's flagship legislative proposal, a substantial tax and spending package known as the "big beautiful bill," which Musk argued would exacerbate the federal deficit and undermine DOGE's objectives. During his time with DOGE, Musk led efforts to streamline federal operations, including significant agency cuts and layoffs. Initially aiming for $2 trillion in savings, he later revised this target to $150 billion, citing internal resistance and political opposition. Despite these efforts, the initiative faced legal challenges and scrutiny over its reported savings. Musk's exit coincides with a period of declining performance for his companies, notably Tesla and SpaceX, which have experienced setbacks attributed in part to his political engagements. Investors have expressed concerns over his dual roles, leading to calls for him to refocus on his business ventures. In his announcement, Musk expressed gratitude for the opportunity to serve and indicated that DOGE's mission would persist beyond his involvement. The White House has confirmed his departure, noting that the offboarding process is underway....

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