US President Donald Trump has publicly commended Elon Musk as "terrific" ahead of the billionaire entrepreneur's departure from a temporary government position. On Thursday, Trump announced a joint press conference with Musk at the White House scheduled for Friday at 1:30 pm EST, marking Musk's final day in the Trump administration.
Trump's announcement was shared on his social media platform, Truth Social, where he expressed confidence that Musk's influence would persist beyond his official role, stating, "This will be his last day, but not really, because he will, always, be with us, helping all the way."
Elon Musk confirmed his exit from the administration on Wednesday. During his tenure, Musk headed the Department of Government Efficiency (DOGE), an initiative aimed at reducing federal expenditure and streamlining government functions. This position placed Musk at the center of efforts to promote fiscal responsibility within the federal government.
Musk’s role in Washington coincided with political and market challenges for his electric vehicle company, Tesla. Tesla shares experienced volatility amid public scrutiny of Musk’s political involvement, particularly his vocal endorsement of Trump and certain right-wing groups in Europe.
Despite his collaboration with the administration, Musk publicly criticized the "One Big Beautiful Bill Act (OBBBA) 2025," a Republican spending plan. He argued that the bill’s financial allocations conflicted with the administration’s cost-cutting goals and voiced opposition as it advanced in Congress.
Furthermore, Musk has indicated a reduction in his political expenditures. Last year, he invested nearly $300 million to support Trump’s presidential campaign and other Republican candidates. More recently, however, he pledged to limit his future financial contributions to political causes.
This development highlights Musk’s ongoing complex relationship with politics, blending advocacy for government efficiency with cautious engagement in political financing.
(With inputs from Reuters)
