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Elon Musk and Treasury Secretary Scott Bessent engaged in a loud shouting match in the West Wing over IRS leadership, witnessed by President Trump and other officials. The clash highlighted ongoing tensions between Musk's brash style and Bessent's reserved demeanor, stemming from past disagreements over Treasury appointments. Following the altercation, Bessent secured the position he desired, further complicating their fraught relationship.
Elon Musk will reduce his role at the Department of Government Efficiency (DOGE) starting in May to focus on Tesla, citing a 71% drop in net income and increased competition. DOGE has reportedly saved $160 billion in federal spending, and Musk's time commitment will decrease as the majority of the work is completed.
Elon Musk announced he will be stepping back from his role in the Trump administration, specifically with the Department of Government Efficiency. He informed Tesla shareholders that he will be dedicating significantly more time to his business endeavors.
US health secretary Robert F. Kennedy Jr. labeled sugar as "poison," urging Americans to eliminate added sugar from their diets while advocating for better food labeling. He also announced plans to remove synthetic food dyes from the US food supply within two years.In other news, US lawmakers condemned the detention of two students for their pro-Palestinian activism, calling it a "national disgrace." They emphasized the need for free speech protections amid concerns over constitutional rights violations.
Gold prices surged to a record high of $3,500 per troy ounce following verbal attacks from the US President on Federal Reserve Chairman Powell, with analysts noting that such pressure could lead to looser monetary policy and rising inflation. However, prices fell to $3,300 as the President softened his stance, leaving uncertainty about future Fed actions and the potential impact on gold. The situation highlights the delicate balance between government influence and central bank independence, reminiscent of Turkey's economic struggles.
Elon Musk plans to dedicate one or two days a week to government work for the remainder of Trump's term, while shifting focus back to Tesla after establishing the Department of Government Efficiency. Despite concerns from Tesla investors about his dual roles, Musk's announcement led to a 5% increase in Tesla's stock after a disappointing quarterly report. Investors are questioning how Musk's government involvement may impact the company and its brand reputation.
Elon Musk announced during Tesla's earnings call that he will reduce his involvement with the Department of Government Efficiency (DOGE) to one or two days a week starting next month, a move praised by analyst Dan Ives. Musk's focus shift comes as Tesla shares have dropped over 40% this year, with concerns about his government ties impacting profits and sales. He also addressed organized protests against Tesla, suggesting some protesters may be motivated by financial incentives, while emphasizing the need to combat waste and fraud.
Elon Musk is reportedly set to bid on a contract for Donald Trump's proposed "Iron Dome" missile defense system, despite the lack of a clear need for such technology in the U.S. This arrangement could allow Musk to maintain ownership and charge the government an annual fee, raising concerns about political and economic implications. Historical precedents show that similar deals have led to significant financial gains for private companies at the expense of taxpayer investment.
Elon Musk announced he will step back from his role with the Department of Government Efficiency to focus more on Tesla, following a 71% plunge in the company's profits. He stated that his involvement with DOGE is "mostly done," but he will continue to dedicate some time to government matters. Despite strong demand for Tesla, Musk acknowledged challenges from vandalism and backlash since joining the Trump administration, which have impacted the company's stock and sales.
Elon Musk announced he will reduce his involvement with the Trump administration, focusing more on Tesla as the company faces a 71% drop in first-quarter profits. He plans to work with the Department of Government Efficiency one or two days a week, citing the need to prioritize Tesla amid declining sales and backlash against his political ties. Tesla shares rose 4.6% after his announcement, reflecting investor relief over his divided attention.
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musk and bessent clash in heated white house shouting match
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Elon Musk shifts focus back to Tesla amid investor concerns and protests
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Musk reduces government role as Tesla profits decline sharply
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