LATEST NEWS: Elon Musk Leaves DOGE and Trump Administration
What This Means for Tesla, Cryptocurrencies, and Markets
On April 30, Elon Musk officially resigned from his position in the Trump administration, ending his brief three-month tenure at the Department of Government Efficiency (DOGE). The Tesla CEO is stepping away from politics to focus on what he does best: technological innovation, electric vehicles, and cryptocurrencies.
Why It Matters:
Musk's departure signals a realignment of priorities.
Trump's meme coin, $TRUMP, fell 5.17% with the news.
Tesla investors may see this as a trend shift.
The Exit:
Elon made the announcement during a White House Cabinet meeting, describing the first 100 days of the administration as "record-setting". A bold statement (and very typical of Elon). Trump thanked him for his contributions, to which Musk quipped: "Well, they like to burn my cars, which is not good" — a reference to Tesla vandalism linked to his federal role.
Chaotic DOGE Results:
Declared government savings: $160 billion
Original goal: $2 trillion
NYT estimates $135 billion in potential losses due to operational disruptions
The Real Reason?
Musk had already suggested during Tesla's earnings call that he would commit to dedicating only 1 to 2 days a week to government functions. This limited commitment came as a surprise — and now the separation is official.
What's Next:
More hands-on leadership at Tesla
Renewed focus on crypto and technology ventures
Likely reduction of the DOGE department
Overall Picture:
Love him or hate him, Musk does not enter any space quietly. His brief stint in the Cabinet was unpredictable, controversial, and typical of Elon.
#Tesla #Crypto #MuskMoves #DOGE #TRUMP
