Elon Musk Leaves DOGE and Trump’s Cabinet — What This Means for Tesla, Crypto, and the Markets
On Wednesday, Elon Musk officially stepped away from his short but attention-grabbing stint in Washington. After just over three chaotic months, Musk is no longer part of the Department of Government Efficiency (DOGE) or Donald Trump’s $TRUMP Cabinet. As someone who closely follows the crossover between innovation, politics, and finance, I see this as a clear signal of where Musk’s priorities now lie—and it could have ripple effects across Tesla, crypto, and the broader market.
Back to Tesla, in Classic Musk Style
Musk made the announcement in person during a Cabinet meeting at the White House on April 30. True to form, he kept it direct but dramatic: starting in May, he’s shifting his focus almost entirely back to Tesla. “It’s been an honor to work with your incredible Cabinet,” he told Trump and other officials. “Thank you to everyone, it was an honor.”
He also called Trump’s first 100 days “record-breaking”—a bold claim, but very much in line with Musk’s flair for exaggeration.
This wasn’t entirely surprising. On Tesla’s recent earnings call, Musk had already hinted that he would be scaling back his involvement in Washington. He mentioned he’d only be dedicating “a day or two per week” to government matters going forward. That was the first real clue that his exit was imminent.
DOGE Had Its Wins—but Fell Short
Musk claimed DOGE saved the federal government $160 billion—no small feat. Still, that’s well under the $2 trillion he initially promised. At the Cabinet meeting, Trump said the savings were $150 billion, but Elon corrected him: “$160 billion, but who’s counting?”
Of course, we’ve heard this before. Earlier this year, Musk acknowledged that the $2 trillion figure was more of an ambitious goal. “If we try for $2 trillion, we’ve got a good shot at getting 1,” he said in an interview.
