US President Donald Trump has told members of his cabinet and other close contacts that tech billionaire Elon Musk will soon step back from his cost-cutting government role, Politico reported on Wednesday, citing three people close to Trump.
Trump has tasked the Tesla and SpaceX CEO with leading efforts through his Department of Government Efficiency (Doge) to cut government funding and dismantle various US agencies as a special government employee.
Politico reported that both Trump and Musk decided in recent days that Musk will soon return to his businesses, but gave no specific date.
Musk and Doge did not immediately respond to requests for comment on the report.
Shares of some companies, including government contracting companies, rose following the report. Shares of Musk’s Tesla, which were down 2 per cent in early trading after a sharper-than-expected fall in first-quarter deliveries, reversed course and were up about 5 per cent.
It was not immediately clear if Musk would leave before his 130-day mandate is set to end in late May or early June.
