Elon Musk Halts Cooperation with the U.S. Administration - Explanation Provided - Elon Musk resigns from his role in the United States administration, providing reasons for his departure.
Tech mogul Elon Musk has announced his departure from his position as a special advisor to President Donald Trump, marking the end of his tenure in the administration. Musk, who had been a key figure in Trump's Department of Government Efficiency (Doge), expressed gratitude for the opportunity to work on reducing unnecessary spending but voiced disappointment with the President's recent legislative package.
In a statement, Musk criticized the "big, beautiful bill," a legislative package that included tax cuts and increased government spending, as undermining his efforts to curb wasteful government spending. Musk believed that the bill would not achieve its intended goal of decreasing the budget deficit.
Musk's exit from the administration was confirmed by White House officials and marks a significant break between Musk and Trump, coming amid growing divisions within the Republican Party over the direction of Trump's economic policy. Upon leaving the administration, Musk indicated he would refocus on his private ventures, such as Tesla and SpaceX, and step back from substantial political involvement after investing more than $250 million in Trump's 2024 campaign.
In recent months, Musk's company Tesla has faced significant challenges, with quarterly global sales decreasing by 13% in the first quarter of 2023. Meanwhile, Musk's online platform X has been met with controversy, and the ninth test flight of SpaceX's giant rocket, Starship, founded by Musk, ended in failure on Tuesday.
Elon Musk has also faced criticism in Europe, particularly in Germany, for his support of right-wing political forces, such as the far-right Alternative for Germany (AfD) during the Bundestag election campaign.
- Source: [1] Reuters, [2] The New York Times, [3] Bloomberg
- Elon Musk, despite his sizable investment in Trump's 2024 campaign, has chosen to distance himself from politics, expressing, "I'm not going to be a big fan of yours," to President Trump after departing from his role as a special advisor.
- In the realm of finance, Musk's CEO duties at Tesla have become more strenuous, with the company registering a 13% decrease in quarterly global sales during the first quarter of 2023.
- Musk's foray into technology, such as the formation of SpaceX and the development of Starship, has faced numerous setbacks, with the ninth test flight ending in failure.
- Beyond business and technology, Musk's online platform X and his political alliances, like his support for the Alternative for Germany (AfD), have been a subject of controversy in Europe, particularly in Germany.
- As a former special advisor, Musk has offered criticism on policy-and-legislation issues, deeming the "big, beautiful bill" proposed by the current administration as an impediment to his objectives of reducing wasteful government spending.
