The billionaire entrepreneur Elon Musk has announced his exit from Donald Trump's administration in the United States. After managing the responsibilities as the DOGE Chief for 130 days, he bids farewell to the position. However, there was no surprise factor in Musk's exit, as it had been anticipated for a while.
People often say politics isn't child's play. Even the sharpest minds can become jesters here. Musk's political journey is quite reminiscent of a fall from grace.
In February, Musk was spotted at a conservative party event near Washington wielding a chainsaw. During this time, he spoke about uprooting the deep-seated bureaucracy within the government. Bold declarations were made about eliminating government waste and fraud. He claimed that he could easily save billions wasted every year.
Yet, sometimes promises can become one's undoing. Musk, known for wielding the ax on government jobs, now found the ax falling on his image instead. Not only his image, but investors also took a harsh view of his businesses.
Musk's DOGE Legacy
On January 20, 2025, Trump appointed his trusted Musk as the chief of DOGE. He was to serve as a special government employee for 130 days each year. His tenure ended on May 28. Prior to this, he had objected to Trump's
Big and Beautiful Bill
, citing it would increase the national deficit.
Musk's tenure as DOGE Chief began with a lot of fanfare. Upon taking office, he claimed he would reduce government expenditure by one to two trillion dollars. However, analysts predicted he might bring it down by 150 to 160 billion dollars in 2026. Controversial decisions like government job cuts and termination policy by DOGE were challenged by various unions in court.
First Clean the House, Then Venture Out...
Meanwhile, Musk's self-established business empire and image were also being affected. While he was cutting down government expenditures, investors were slashing at his empire. On May 28, Tesla's shares fell to $356.9, noting a 33% drop compared to December 2024.
This decline in Tesla's share price began in the first quarter of 2025-2026, with the company's profit dropping 71%. Revenue was impacted by 9%, while sales dropped by 13%. This slump in Tesla's shares was due to competition with Chinese EV companies like BYD and Trump's tariffs. Musk's political involvement aggravated this crisis. Critics of these decisions and government employees called for protests. In an interview, Musk expressed regret, stating, "I think I've spent too much time in politics."
Democracy Prevails Over Capitalism
Elon Musk was once heralded as the
Modern Midas
. In Greek mythology, Midas was a figure who could turn everything he touched into gold. Similarly, Musk guaranteed success wherever he ventured. In a 2025
Washington Post-ABC News-Ipsos Poll
, 57% of Americans disapproved of Musk as DOGE Chief. 60% said he was recklessly cutting the federal budget. Recently, a
Reuters-Ipsos poll
indicated 58% disapproved of Musk. This dissatisfaction with Musk wasn't limited to America; globally, anger was directed at Tesla. Protestors in Europe attacked Tesla showrooms. Tesla's sales plummeted around 50%.
From Main Character to Sidekick...
Once it was said that no one but Musk could challenge Musk.
Globally eminent, Musk was the center of attention in America. But during Trump's Middle East tour, he was sidelined.
A New York Times report indicated that Musk was discontented with a deal between a rival AI company and the United Arab Emirates while appearing to be at odds with Trump. The Middle East tour added to Musk's dissatisfaction. Trump hardly mentioned Musk during the tour, even though he accompanied Trump throughout.
On May 14, a crowd of Trump's wealthy supporters gathered at Luwisel Palace before a dinner with the Emir of Qatar. Musk waited in line like everyone else to shake Trump's hand.
Many viewed this as a sign of Musk's diminishing stature.
Trump is known for making friends quickly, only to become disillusioned with them just as fast.
In Conclusion...
Musk's exit has been linked to discontent with Trump's
Big Beautiful Bill
. Meanwhile, on Wednesday, the US Federal Court dealt Trump a blow by declaring his Liberation Day Tariff illegal. A panel of three judges halted his plan to impose import tariffs using special powers. However, a 10% baseline tariff on imported goods in America will continue, with higher tariffs on goods from China and the European Union.
These dual setbacks have shown a mirror to Trump's agenda. Musk's departure has hinted at possible disruptions in the alleged crony culture within the White House.
