from The National Pulse:
PULSE POINTS:
What Happened: Conflicting reports emerged on Wednesday about Elon Musk stepping back from his role as head of the Department of Government Efficiency (DOGE). Initial leaks suggested he was already transitioning out—but the White House quickly pushed back.
Who’s Involved: President Donald Trump, Elon Musk, White House Press Secretary Karoline Leavitt, senior officials, and investors.
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Where & When: The claims surfaced midweek in Washington, D.C., followed swiftly by a public denial on X.
Key Quote: WH Press Sec Karoline Leavitt responded directly: “This ‘scoop’ is garbage. Elon Musk and President Trump have both publicly stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete.”
Impact: Tesla’s stock initially dropped 2% but rebounded 3% after the news, as markets digested the likelihood of Musk returning full-time to his businesses. Other federal contractors also saw gains. The press secretary’s rebuttal added a layer of uncertainty.
IN FULL:
Confusion rippled through Washington and Wall Street on Wednesday after reports surfaced claiming that President Donald Trump and Elon Musk had agreed the billionaire would step down from his role as head of the Department of Government Efficiency (DOGE). The supposed decision was framed as a mutual one, aimed at allowing Musk to refocus on his companies.
But within hours, White House Press Secretary Karoline Leavitt torched the report, tweeting: “This ‘scoop’ is garbage. Elon Musk and President Trump have both publicly stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete.”
According to the original reporting in POLITICO, Musk’s role was being phased into a less active advisory capacity. The outlet cited unnamed officials who claimed that Musk would visit the White House less often and focus more on Tesla, SpaceX, and his other ventures.
Musk’s time at DOGE hasn’t been without friction. Despite the turbulence, Trump has praised Musk publicly, saying, “I think he’s amazing, but I also think he’s got a big company to run. At some point, he’s going to be going back. He wants to.”
Market watchers were quick to react. Tesla shares dropped 2 percent on the rumor but closed 3 percent higher after speculation Musk could soon return to a more hands-on executive role. Other publicly traded companies with heavy federal contracts also saw modest gains.
Whether or not the leak reflects future plans remains to be seen. But for now, the White House is firmly denying that Musk is stepping away from DOGE—at least before the job is finished.
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