The White House has refuted media reports suggesting Elon Musk would soon leave his position as a special government employee tasked with cutting federal spending. Despite reports from Politico and ABC suggesting President Trump indicated Musk’s impending return to the private sector, Press Secretary Karoline Leavitt affirmed that Musk would complete his mandate. Musk’s role, leading efforts through the Department of Government Efficiency (DOGE), focuses on reshaping the federal bureaucracy and slashing government funding.
The announcement follows a setback for Musk and Trump in a Wisconsin Supreme Court election, where a liberal judge defeated a conservative backed by Musk. This vote was viewed as an early test of Trump’s presidency and Musk’s efforts to reform the civil service. Despite this, Musk remains confident in achieving his goal of cutting $1 trillion in federal spending within his 130-day mandate, as stated in a Fox News interview. Shares of some government contracting companies initially rose on reports of Musk’s potential departure. Tesla shares, which had declined sharply, recovered and saw an increase after the White House’s confirmation of Musk’s continued role.
