Elon Musk: According to the sources, three people close to Trump, U.S. President Donald Trump has informed members of his Cabinet and other close associates that his billionaire supporter Elon Musk will shortly leave his position in the administration. As a special federal employee, Trump has assigned the CEO of SpaceX and Tesla to spearhead initiatives to reduce government spending and dissolve other U.S. agencies. According to Politico, Musk and Trump agreed in recent days that Musk will soon resume his commercial ventures, but they did not specify when.

Requests for comment on the report were not immediately answered by Musk, the White House, or the task force chaired by Musk. Following this report, shares of a few companies, especially those that contract with the government, increased. Following a steeper-than-expected decline in first-quarter deliveries, shares of Musk’s Tesla company  fell 2% in early trading before rising 3%.

Also Read: Elon Musk sells X to xAI startup for $33 billion

Both Musk and Trump have recently hinted that Musk may move on, although they have not specified when. “I think he’s amazing, but I also think he’s got a big company to run,” Trump said to reporters on Monday when asked if he wanted Musk to stay past his 130-day term. He will be returning at some point. He desires to.

Musk’s tenure as a special government employee would expire at the end of May, assuming a 130-day term. Last week, he told Fox News that he was sure he would complete the majority of the job to reduce federal spending by $1 trillion.

Also Read: President Trump Speaks About Elon Musk, Sparking National Curiosity

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