Shares of Tesla rose on Wednesday following an anonymously sourced Politico report (keeping in mind Musk just yanked millions in government ‘subscriptions’ from them) that President Trump has told his inner circle that Musk would be stepping back from his advisory role in the coming weeks.
Musk, who Politico describes as “governing partner, ubiquitous cheerleader and Washington hatchet man” (totally not salty), claims that Trump “remains pleased with Musk and his Department of Government Efficiency initiative but both men have decided in recent days that it will soon be time for Musk to return to his businesses and take on a supporting role.“
Then Politico gets extra nasty – writing that “Musk’s looming retreat comes as some Trump administration insiders and many outside allies have become frustrated with his unpredictability and increasingly view the billionaire as a political liability, a dynamic that was thrown into stark relief Tuesday when a conservative judge Musk vocally supported lost his bid for a Wisconsin Supreme Court seat by 10 points.”
One anonymous official allegedly told Politico that Musk is likely to retain an informal advisory role and continue to be an occasional face around the White House, while another said that anyone who thinks Musk is going to disappear entirely from Trump’s orbit is “fooling themselves.”
As we noted above, shares of Musk-owned Tesla rose more than 5% on the report.
While Polymarket odds that he’ll be out as the head of DOGE in 2025 spiked as well.
Tyler Durden
Wed, 04/02/2025 – 12:20
