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Tesla stock jumps over 5% as report claims musk will leave white house role

2025/04/03/06:40
in Financial insights, US
Reading Time: 3 mins read
240 13
A A
Fox’s Peter Doocy wonders if Trump ‘Spooked’ Elon Musk into wearing a suit
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  • White House Press Secretary Karoline Leavitt denied the claims on X, stating that Musk will only leave once his work with DOGE is complete.
  • According to Politico, political pressure and internal frustrations drive Musk’s departure from Trump’s inner circle.

Elon Musk’s brief but high-profile stint in Washington is coming to an end, Politico reported. Once hailed as a key partner in President Donald Trump’s government overhaul, under the Department of Government Efficiency (DOGE), Musk is now set to transition out of his role.

Trump has reportedly privately told his inner circle that the billionaire will soon take a step back, signaling a strategic shift as political tensions mount. While Musk’s defenders argue he has already made his mark, others in the administration see his unpredictability as a liability.

White House Denies Musk’s Exit Claims

The White House has denied the claims about Musk’s departure. “Elon Musk and President Trump have both *publicly* stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete,” Karoline Leavitt, the Assistant to the President and White House Press Secretary, said.

This “scoop” is garbage.

Elon Musk and President Trump have both *publicly* stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete. https://t.co/Brppff6SKi

— Karoline Leavitt (@PressSec) April 2, 2025

Musk, appointed as a “special government employee,” has served on a temporary basis, with his term set to end in May, ABC News reported. However, sources close to the matter suggest that Trump continues to appreciate Musk’s efforts in government efficiency despite internal divisions among White House staff.

Cost-Cutting Initiatives

While some White House aides have reportedly grown frustrated with Musk’s unorthodox approach and his influence within the administration, Trump has publicly defended the billionaire’s work, particularly his drive for cost-cutting initiatives across federal agencies.

According to ABC News, while some reports have suggested that Musk’s exit from the White House is imminent, sources close to the situation caution maintain that such claims might be overstated. Defenders of Musk within the White House argue that his work has been valuable and that the narrative of him being pushed out has been exaggerated.

Trump reportedly acknowledged during a recent press conference that Musk would eventually return to running Tesla, his electric vehicle company, which remains a major focus for the billionaire. Trump reportedly noted Musk’s commitment to his business.

https://twitter.com/Cointelegraph/status/1906655408942354657?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1906655408942354657%7Ctwgr%5Eac7993847202605fef4ad4d213c1988732c1b6fa%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.financemagnates.com%2Ftrending%2Ftrump-announces-10-baseline-tariff-on-all-imports-what-it-means-for-global-markets%2F

In the world of digital assets, Dogecoin’s rally, boosted by speculation about its potential government adoption, recently took a hit after Elon Musk dismissed any official role for the meme coin, FinanceMagnates.com reported. This denial followed weeks of excitement surrounding the D.O.G.E.

Source: FINANCE MAGNATES

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