- Elon Musk resigns as Head of DOGE after criticism over government reforms, with Trump announcing his departure in a press conference. Both Trump and Musk will speak at the conference addressing the resignation.
- Tesla stock rises as investors react positively to Musk stepping back from politics and reducing campaign spending. Following this, Musk and Trump will speak together at the planned press conference.
- Musk reveals a bold Mars colonization plan through SpaceX following his White House exit.
Donald Trump will host a press conference with Elon Musk on Friday at 1:30 p.m. EST in the Oval Office. Trump made this announcement on his social media platform, Truth Social. The event will mark Elon Musk’s final day working in the Trump administration. Trump praised Musk highly, saying Musk will continue to support him and the country even after leaving the official role. Trump wrote, “This will be his last day, but not really, because he will always be with us, helping all the way. Elon is terrific!”
Elon Musk Resigns as Head of Department of Government Efficiency (DOGE)
Musk confirmed on May 28 that he will step down from his White House role. Musk led the Department of Government Efficiency, known as DOGE, which aimed to reduce government spending and improve efficiency. His resignation came shortly after he criticized the price tag on the Republican tax and budget plan moving through Congress. Musk expressed frustration about becoming the target of blame for many government problems. In a recent interview with the Washington Post, he said, “DOGE is just becoming the whipping boy for everything. Whenever something goes wrong anywhere, we get blamed even if we have nothing to do with it.”
Investors React Positively as Musk Steps Back from Politics
Tesla’s stock jumped 2% right after Musk announced his departure from the administration. Many investors had worried about Musk’s deep involvement in politics. Musk supported Donald Trump’s 2024 campaign and backed other Republican candidates, spending around $300 million in total last year. This political activity caused concern in the U.S. and Europe, especially since Musk pushed for sharp cuts in government spending and supported right-wing parties abroad. Musk recently told reporters that he plans to reduce his political spending, saying he has “done enough.” Musk and Trump plan to speak further on this decision.
Musk’s Government Reforms Caused Major Disruption
Musk’s time leading DOGE created major changes in the U.S. government. Thousands of federal employees lost their jobs, several government departments shut down, and many legal battles arose. The Associated Press reported that the program caused upheaval but delivered fewer accomplishments than expected. Musk struggled to navigate Washington’s political environment and often expressed frustration with resistance from government officials. Over time, he lowered his original spending cut targets from $2 trillion to $1 trillion, and finally to $150 billion.
Musk Reveals Bold Mars Colonization Plan After Leaving White House
Elon Musk has revealed an exciting new plan for SpaceX right after stepping down from his role in President Trump’s White House. He wants to make humans a multiplanetary species by colonizing Mars. Musk announced that SpaceX plans to launch its first crewed Starship mission to Mars in 2026. This mission will carry a Tesla Optimus robot to prepare the Martian surface. If these first missions go well, humans will follow two years later. The first settlers will focus on building and fixing infrastructure. Musk aims to make Mars a place where people can live safely and grow. As the announcement of his Mars plan coincides with his departure, Trump and Musk will speak on the impact of these changes.
