Elon Musk, known for being the richest person and a significant ally of Donald Trump, is reportedly set to step down from his advisory role in the White House. This decision comes amidst a challenging period for Musk, marked by disappointing quarterly results for Tesla and growing controversy over his role in politics. The White House indicated that Musk's departure would coincide with the completion of the Department of Government Efficiency's initiatives, though he may still play a supportive role in Trump's administration, causing Tesla's stocks to surge following the announcement.
Musk's exit as an advisor was confirmed by Trump, sparking a rise in Tesla stocks, amid his recent political controversies and disappointing Q1 results.
Musk's departure is tied to the completion of the DOGE agency's work, aimed at government cuts, but he may still retain a supporting role.
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