On Thursday US President Donald Trump praised Elon Musk's work, calling the billionaire "terrific," and announced a joint press conference on Friday, May 30, at 1:30 p.m. (Washington time) in the Oval Office, on Musk's last official day in the administration.
"It will be his last day, but not really, because he will always be there, helping us in every way possible," Trump wrote on Truth Social. "Elon is great!"
A symbolic departure but a lasting influence
Musk announced his departure from the White House on Wednesday, which somewhat reassured Tesla investors, whose shares have suffered this year. The stock has been partly weighed on by controversies surrounding the CEO's support for Trump and conservative European parties, sparking criticism and concern among some shareholders.
During his time in government, Musk headed the Department of Government Efficiency, a department tasked with streamlining public spending. His mission was to identify and eliminate wasteful spending at the federal level.
Tensions with Congress and partial withdrawal of political funding
Musk recently criticized the costs of the Republican tax and budget plan under consideration in Congress, highlighting inconsistencies in the budgetary approach of his own political majority.
In addition, the SpaceX and Tesla executive promised to reduce his political spending after injecting nearly $300m into Trump's presidential campaign and other Republican candidates in the last election.
This press conference will mark both the official end of a controversial and highly publicized collaboration and probably the beginning of a new phase of more informal influence as Trump enters his second year in office.
