Elon Musk, the billionaire CEO of Tesla and SpaceX, has stepped down from his role in the Trump administration, where he headed the Department of Government Efficiency (DOGE). His decision marks a significant shift away from politics, allowing him to refocus on his business ventures. Musk's departure follows his criticism of President Trump's fiscal policies, particularly the 'Big Beautiful Bill,' which he argued would increase the federal deficit contrary to DOGE's mission of reducing wasteful spending.
During his 130-day tenure, Musk aimed to cut $2 trillion in government spending, though he ultimately scaled this down to $150 billion. His aggressive cost-cutting measures sparked controversy, leading to significant job reductions and departmental shutdowns. Despite these efforts, he encountered resistance from within the administration, which hindered his goals. His tenure saw a mix of criticism and praise for his initiatives, leaving a complex legacy at DOGE.
Musk's political involvement had strained his businesses, particularly Tesla, which faced declining sales amid protests and brand damage from his political ties. Investors have since welcomed his decision to leave politics behind, with Tesla's stock seeing a positive surge as hopes rise for renewed focus on the company's core projects, including its robotaxi service and humanoid robots.
Despite his exit from the political arena, Musk assures that DOGE’s mission will continue under new leadership, aiming to streamline government operations. As Musk returns to his companies, his experience in Washington may still influence his future endeavors, potentially even in political ambitions if circumstances allow.
