Published by Global Banking & Finance Review®
Posted on April 2, 2025
3 min readLast updated: January 24, 2026
Add as preferred source on GoogleElon Musk remains committed to his government mission to cut $1 trillion in spending, despite reports of his early departure. The White House confirms his role until the mission's completion.
By Nandita Bose and Akash Sriram
WASHINGTON (Reuters) -The White House said on Wednesday that tech billionaire Elon Musk will stay on to complete his mission to slash government spending and downsize the federal workforce, dismissing media reports that he will leave the role soon.
Politico and ABC reported that U.S. President Donald Trump had told members of his Cabinet that Musk will soon depart and return to the private sector, although the reports did not make clear if that would mean Musk leaving before his 130-day mandate as a special government employee is set to expire around late May.
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.
"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," White House Press Secretary Karoline Leavitt said.
Musk and DOGE did not immediately respond to requests for comment on the reports.
On Tuesday, Musk and Trump suffered a setback as a liberal judge in Wisconsin won election to the state Supreme Court, easily defeating a conservative judge whose campaign had been heavily bankrolled by Musk and groups tied to him.
The vote had been seen as an early referendum on Trump's presidency and Musk's campaign to remake the U.S. civil service.
Shares of some government contracting companies rose following the reports of Musk's possible impending return to the private sector. Shares of Musk's Tesla, which had been down more than 6% in early trading after a sharper-than-expected fall in first-quarter deliveries, reversed course and were up about 5% on Wednesday afternoon.
Musk told Fox News' "Special Report with Bret Baier" last week that he was confident he would finish most of his stated aim of cutting $1 trillion in federal spending by the end of his 130 days.
But in a March 10 interview with Fox Business Network's "Kudlow," when he was asked by host Larry Kudlow, "You going to go another year?" Musk replied, "Yeah, I think so."
According to the DOGE website, the only official window into its operations, DOGE estimates it has saved U.S. taxpayers $140 billion as of April 2 through a series of actions including workforce reductions, asset sales, and contract cancellations, still far short of Musk's $1 trillion goal.
But evidence for the stated savings is often missing, and the website's calculations have been riddled with errors and corrections.
DOGE's mandate as a whole is set to continue to July 4, 2026. However, many of the top figures in DOGE are tied to Musk and have not said whether they would want to stay on after the departure of the billionaire, who has been the ideological force behind the government overhaul.
There has been growing unease across the U.S. over Musk's blunt approach to mass layoffs from the government workforce. Nearly 200,000 employees have been fired, earmarked for termination or have accepted buyouts.
Republican lawmakers have faced the wrath of angry voters at unruly town halls, while many of DOGE's efforts have become the subject of lawsuits.
Tesla dealerships have been vandalized in the U.S. and abroad, and a nationwide protest against DOGE and Trump's agenda is planned for this Saturday.
(Reporting by Susan Heavey, Nandita Bose, Andrea Shalal and Tim Reid in Washington; additional reporting by Shivani Jayesh Tanna, Akash Sriram, Abhirup Roy and Sayantani Ghosh; Editing by Ross Colvin and Rosalba O'Brien)
The article discusses Elon Musk's ongoing mission to reduce government spending and his potential early departure from the role.
DOGE is the Department of Government Efficiency, tasked with cutting government spending and reshaping the federal workforce.
Musk faces public protests, legal challenges, and media speculation about his early departure from the government role.
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