Elon Musk says he is leaving the Trump administration

Investing.com-- Elon Musk said on Wednesday evening that he was leaving the Trump administration, just a day after he criticized a sweeping tax cut bill that is backed by the White House.

Musk alluded to his departure in a social media post, stating that “as my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending.” 

“The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government,” Musk said, referring to the Department of Government Efficiency, which he had led as part of the administration. 

The Associated Press reported that Musk was leaving, citing confirmation from a White House official. Reuters reported that Musk had not had a formal discussion with Trump before his exit, and that the White House had begun the off-boarding process.

While Musk had telegraphed his departure earlier, stating that he would steadily taper his time spent working with the government, his Wednesday comments come just a day after he criticized a sweeping tax bill backed by Trump, who has called it his “big beautiful bill.” 

Musk, in a CBS interview this week, claimed that the bill undermined the actions of DOGE in cutting federal spending. The bill recently passed through the House of Representatives and is being considered in the Senate.  

Musk’s departure marks an end to his highly divisive presence in the Trump administration. DOGE, which had initially set out to slash trillions of dollars of alleged government waste, fell far short of the target since its inception in January. 

Musk had also received flak for outlining sweeping job and funding cuts across federal agencies, which several lawsuits allege he had no authority over.

Musk’s affiliation with the Trump administration was seen battering the brand image of his companies, specifically electric vehicle maker Tesla, which is facing sales boycotts and attacks on its facilities across the globe in response to Musk. 

Musk had also signaled that he would spend less time with the government and focus more on his companies during Tesla’s first-quarter earnings call. 

Tesla Inc (NASDAQ:TSLA) shares jumped 2.7% in aftermarket trade, following Musk’s announcement on Wednesday.