20 hours ago
Last Updated:April 02, 2025, 22:03 IST
President Trump and Elon Musk have decided that Musk will soon step back from his government role. Musk's term as a special government employee is set to end by May.
US President Donald Trump and Tesla CEO Elon Musk speak to the press as they stand next to a Tesla Cybertruck on the South Portico of the White House in Washington, DC. (IMAGE: AFP)
US President Donald Trump has told members of his Cabinet and other close contacts that his billionaire ally Elon Musk will soon step back from his government role, Politico reported on Wednesday, citing three people close to Trump.
Trump has tasked the Tesla and SpaceX CEO with leading efforts to cut government funding and dismantle various U.S. agencies as a special government employee. Politico reported that both Trump and Musk decided in recent days that Musk will soon return to his businesses, but gave no specific date.
Representatives for the White House, the Musk-led task force and Musk did not immediately respond to requests for comment on the report.
Shares of some companies, including government contracting companies, rose following the report. Shares of Musk’s Tesla, which were down 2% in early trading after a sharper-than-expected fall in first-quarter deliveries, reversed course and were up 3%.
Trump and Musk have both recently indicated that Musk would move on but have not said when.
Asked if he wanted Musk to stay longer than his 130-day term, Trump told reporters on Monday: “I think he’s amazing, but I also think he’s got a big company to run. At some point, he’s going to be going back. He wants to."
Based on a 130-day term, Musk’s time as a special government employee would be set to end as soon as the end of May. He told Fox News last week that he was confident he would finish most of the work to cut $1 trillion in federal spending.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed - Reuters)Location :Washington D.C., United States of America (USA)
First Published:April 02, 2025, 21:56 IST
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