'Yeah, fake news': Elon Musk dismisses reports of stepping down from DOGE

Elon Musk - File Photo

Tech billionaire Elon Musk has termed as “fake news” reports suggesting that he will soon step down from his role in the Trump administration.

Yeah, fake news https://t.co/nPhTpZj3Fc
Elon Musk (@elonmusk) April 2, 2025

The White House already made it clear on Wednesday that Musk will stay on his government role to complete his mission to slash government spending and downsize the federal workforce.

Politico and ABC News quoted unnamed sources saying Musk could step away from an unprecedented role in which he is spearheading brutal cuts to US government services and has emerged only second to Trump as the face of the administration.

The reports claimed on Wednesday that US President Donald Trump told members of his Cabinet and other close contacts that Musk will soon step back from his government role.

White House Press Secretary Karoline Leavitt called Politico's report "garbage." Another spokesman, Harrison Fields, said Politico is a "tabloid paper that would rather run fake news for clicks than real reporting."

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. https://t.co/Brppff6SKi Karoline Leavitt (@PressSec) April 2, 2025

However, there has been speculation from day one over how long Musk can maintain his extraordinary position, one that has seen him get so close to Trump that critics dub him the "co-president."

For two months, the world's richest person has overseen an ideologically driven crusade by the so-called Department of Government Efficiency, or DOGE. While DOGE aims ostensibly to save money, Musk has triggered widespread alarm by crippling US foreign aid programs and scientific research almost overnight, reports AFP.

Trump has tasked the Tesla and SpaceX CEO with leading efforts through the Department of Government Efficiency to cut government funding and reshape the federal bureaucracy.

Shares of some companies, including government contracting companies, rose following the report. Shares of Musk’s Tesla, which were down 2% in early trading after a sharper-than-expected fall in first-quarter deliveries, reversed course and were up 3%.

Trump and Musk have both recently indicated that Musk would move on but have not said when.

Asked if he wanted Musk to stay longer than his 130-day term, Trump told reporters on Monday: “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.”

Based on a 130-day term, Musk’s time as a special government employee would be set to end as soon as the end of May. He told Fox News last week that he was confident he would finish most of the work to cut $1 trillion in federal spending.

(With inputs from agencies)