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Elon Musk: US President Donald Trump has told his cabinet members and close aides that his billionaire partner Elon Musk will soon resign as DOGE chief. According to a Politico report, three sources close to Trump have confirmed this information.
Trump had entrusted Tesla and SpaceX CEO Elon Musk with the responsibility of cutting government funds. The report said that recently Trump and Musk agreed that Musk would soon return to his business, but no specific date has been set yet.
Stock market stir after the report
The White House, the Musk-led task force and Elon Musk himself have not yet commented on this report. However, after this news, shares of some government contracted companies saw a rise. At the same time, Tesla shares, which were down 2% in early trading due to a bigger than expected decline in the first quarter, rose 3% after the report.
Trump also gave indications
Both Trump and Musk have already hinted at this change but did not clarify when Musk would step down. When Trump was asked if he wanted Musk to stay beyond his 130-day term, he said, “I think he’s great, but he also has a big company. At some point, he has to go back. And that’s what he wants.” If the 130-day term is considered, Elon Musk’s term as a special government employee could end by the end of May. He told Fox News last week that he was confident he would complete most of the $1 trillion cut in government spending.
