Elon Musk officially exits Trump government role, regrets deep political involvement

Elon Musk officially ended his 130-day stint as a special government employee in the Trump administration, expressing regret for his deep political involvement.

During his tenure, Musk claimed to have saved about $160 billion through agency closures and layoffs, aiming for a $1 trillion reduction in federal spending. However, critics labeled his efforts as largely ineffective and politically damaging.

Musk expressed frustration with federal bureaucracy, telling the Washington Post, "The federal bureaucracy situation is much worse than I realized."

His political involvement also drew backlash, with public approval dropping by more than 14 points, leaving about 54% of Americans disapproving of him. Fellow billionaire Bill Gates warned that cuts to agencies like USAID could have global consequences.

Financially, Musk's political actions impacted his companies. Tesla sales notably declined, especially in Europe, and Musk admitted disappointment over legislative developments, such as the House passage of the One Big, Beautiful Bill Act (OBBBA), which he said "increases the budget deficit, not just decreases it."

Despite the turmoil, Tesla stock ended the week with gains, including a 22.8% increase in May, buoyed by Musk's return to focus on his companies.

At a news conference marking his last day, Musk declined to comment on a New York Times report, dismissing it with, "That New York Times? Let's move on."

Overall, Musk's brief government role was marked by ambitious spending cuts, political controversy, and mixed financial outcomes for his business ventures.

Elon Musk officially ended his 130-day role as a special government employee in the Trump administration, expressing regret over his deep political involvement. Despite claiming $160 billion in federal savings, his tenure faced criticism for ineffectiveness and backlash, while Tesla stock showed mixed reactions amid the news.