In a dramatic Oval Office farewell, Tesla CEO Elon Musk concluded his advisory role in the Trump administration amid swirling controversies and a visible black eye. President Donald Trump praised Musk's "incredible service," presenting him with a symbolic golden key to the White House while insisting the billionaire would remain a "friend and advisor."
DOGE Savings Debate and Policy Pledge
Trump reaffirmed his commitment to codifying DOGE-driven cost-cutting measures, claiming $170 billion in savings—a figure disputed by independent analysts. The initiative, initially targeting $2 trillion in reductions, has drawn scrutiny from economists and investors monitoring its potential ripple effects on global markets, including Asia's tech and manufacturing sectors.
Musk's Departure and Personal Controversies
The Tesla leader attributed his facial injury to a playful incident with his son, dismissing speculation fueled by The New York Times' allegations of ketamine use during Trump's 2024 campaign. Musk avoided addressing drug claims directly, instead criticizing mainstream media while defending his X platform as a "free speech alternative."
Corporate Fallout and Asian Market Implications
Musk's exit follows public disagreements with Trump's fiscal policies and mounting challenges at Tesla, where slumping sales and factory protests have alarmed shareholders. As SpaceX faces technical setbacks, analysts warn of potential impacts on Asian supply chains and renewable energy partnerships across the region.
