Elon Musk has announced that he is leaving the Donald Trump administration after his work on the DOGE project, which was intended to reduce US government spending, the BBC reports.
In a post on his X platform, Musk thanked Trump for the opportunity to lead the Department of Government Efficiency. He also noted that while his official role is ending, the DOGE mission will continue as a way of life within federal agencies.
The decision to end Musk's government service was expected, as his appointment was temporary. As a "special government employee," Musk could work up to 130 days a year, and that limit would have been exhausted at the end of May. However, his departure came after he publicly criticized Trump's major tax bill, which included large tax breaks and an increase in the defense budget. Musk believes that the bill will lead to a growing budget deficit and undermines DOGE's efforts to reduce government spending.
In an interview with CBS, Musk said that the bill cannot be both "big" and "beautiful," as Trump describes it. He also said that he initially planned to cut the government budget by $2 trillion, but gradually reduced this goal first to $1 trillion, and then to $150 billion. As a result of DOGE, about 260 thousand federal employees lost their jobs or agreed to voluntary dismissal. However, in some cases, courts have blocked mass layoffs and reinstated workers. Sometimes the dismissals were wrongful - for example, employees of the US nuclear program were affected.
Musk announced that he was returning to managing his companies, such as Tesla and SpaceX, as DOGE became the subject of public criticism. After his stint in government, Tesla suffered a 13% drop in sales, the largest drop in the company's history. The stock fell 45%, although it partially recovered, falling 10% from its opening level. Tesla also suffered a crash in Europe. The company's sales fell by almost half. Musk warned investors that financial problems could continue, and that changing political sentiment could affect demand for electric vehicles.
Speaking at an economic forum in Doha, Musk said he planned to remain Tesla's chairman for at least the next five years. He also added that he would cut back on political donations, which totaled about $300 million last year.