Just before a test launch for SpaceX’s Starship on Tuesday night, Elon Musk said the Department of Government Efficiency (DOGE)

Elon Musk said he expected to "remain a friend and an advisor" to President Donald Trump as his time as a special government employee ends.

Tesla shares slid Friday, but posted gains for the week and second straight month as CEO Elon Musk steps back from his role leading the cost-cutting Department of Government Efficiency.

"As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending," Musk said on his social media platform on Wednesday.

An "Eco Friendly Not Elon Friendly" bumper sticker on a vehicle in Jersey City, NJ, on May 16, 2025. Drivers around the state have added similar stickers to their Teslas amid political criticism levied against President Donald Trump and Elon Musk. Steven Rodas | NJ Advance Media for NJ.com

Investors are winding down a volatile but winning week as President Trump’s trade war continues with China in the crosshairs, Elon Musk officially ends DOGE duties, U.S. Steel, Nippon Steel deal proceeds.

Elon Musk's influence at the White House appeared to wane amid complaints from cabinet members about his approach. He also faced pressure from shareholders worried that his political role was becoming a liability for his companies.

Tesla Inc (TSLA.O) shares rose in early premarket trading on Thursday after reports that the electric vehicle maker is preparing to launch its robotaxi service in Austin on June 12. Adding to investor optimism,