Musk Steps Down as DOGE Head, Prepares to Return to Tesla and SpaceX Management

[Financial News]  Elon Musk, CEO of Tesla and SpaceX, known as a key figure in the Donald Trump administration and leading the Department of Government Efficiency (DOGE), announced that he will step down from his position and return to management.
On the 28th (local time), American media such as Fox News Channel reported that Musk has begun the process of stepping down from the DOGE head position on social media X, stating that his time as a special government official is coming to an end.
Musk expressed gratitude to President Trump for the opportunity to reduce government spending, saying, "The mission of DOGE will grow stronger over time."
The White House also confirmed that what Musk posted on X is true.
The DOGE, established with an executive order by the Trump administration that launched last January, has been tasked with identifying excessive spending, corruption, and fraud in federal government agencies.

Musk, hired as a special government official, can only serve in the federal government for 130 days according to regulations, and his working period expires on the 30th.
Musk, who needs to manage companies like Tesla and SpaceX, has emphasized that his participation in the Trump administration would be temporary.
President Trump also expressed his desire for Musk to remain as a "great person" but acknowledged that he would eventually return due to the large companies he needs to manage.
According to the executive order issued by President Trump last January, DOGE is scheduled to be dissolved on July 4, 2026.

Musk first announced his intention to step down as DOGE head during an earnings call after Tesla's earnings announcement on the 22nd of last month.
At that time, he stated that DOGE had completed most of its major tasks and that the time spent in the capital Washington would be significantly reduced from May.

Earlier this month, at the Qatar Economic Forum, he also mentioned that the time spent in American politics would be greatly reduced, stating, "I see no reason to continue at present."
While serving as DOGE head in the Trump administration, it was reported that he reduced government spending by $175 billion (about 242 trillion won), but he also made a rare statement distancing himself from the Trump administration, saying that the budget size passed by the U.S. House last week would increase the fiscal deficit.

AP reported that Musk was unable to adapt to the atmosphere of Washington politics and did not achieve the results he had expected.
Musk declared his support and political backing immediately after an attempted assassination incident against Trump occurred during an outdoor rally in Butler, Pennsylvania, last July.
When Musk participated in the Trump administration and made statements supporting far-right parties in Europe, sales of Tesla electric cars decreased, and vehicles and stores were damaged.

jjyoon@fnnews.com Yoon Jae-jun Reporter