On Wednesday, Elon Musk officially stepped down from his short but attention-grabbing role in federal government, ending his involvement with both the Department of Government Efficiency (DOGE) and Donald Trump’s Cabinet after just over three chaotic months. For those tracking the intersection of tech, politics, and finance, this marks a major pivot in Musk’s priorities—and could hint at shifts in the market.
Musk made the announcement in person during a Cabinet meeting at the White House on April 30, stating that starting in May, his attention would return almost entirely to Tesla. “It’s been an honor,” he said, thanking Trump and the Cabinet. He also lauded the Trump administration’s first 100 days as “record-breaking”—a typically dramatic Musk comment.
This move wasn’t a surprise. Musk had already hinted during Tesla’s earnings call last week that he’d be reducing his federal involvement, saying he’d only spend “a day or two per week” on government matters moving forward.
DOGE’s Impact: High Hopes, Mixed Results
While Musk claimed DOGE saved the government $160 billion—correcting Trump’s mention of $150 billion—the figure still fell short of his original $2 trillion goal. Musk later admitted that amount was a best-case scenario and that even hitting $1 trillion would have been a win.
But not all data supported the success narrative. Reports cited major disruptions from DOGE’s implementation, with potential losses of $135 billion due to layoffs and delays. Meanwhile, Musk’s physical presence in the West Wing had already ended, though his team remained active nearby.
Musk’s Farewell Moment
Despite the mixed reviews, Trump praised Musk at the Cabinet meeting, thanking him for his efforts and calling his sacrifices significant. Musk responded with characteristic humor, referencing vandalism of Tesla vehicles tied to his government work: “They like to burn my cars, which is not great.”
Trump also extended an open invitation for Musk to stay involved. The applause in the room reflected Musk’s ongoing influence—even in political spaces.
Tesla, Crypto, and What’s Next
Musk confirmed his future lies once again with Tesla, saying DOGE no longer needs his full attention. A final DOGE report was handed to Trump, closing this unique chapter of Musk’s career.
Whether or not DOGE lived up to its ambitious goals, Musk’s presence left a mark. Now, as he returns to building Tesla and potentially shaking up the crypto space once more, all eyes are on what he’ll do next. One thing’s clear: Elon Musk rarely exits quietly $TRUMP $BNB $BTC
