FOREIGN NEWS: Elon Musk to Step Down From Trump's Gov't After $1 trillion Deficit Reduction.

By Ravi HARI

Tesla CEO and Tech billionaire Elon Musk on Thursday announced that he plans to step down from his role in the Donald Trump administration at the end of May after overseeing a massive $1 trillion reduction in the US deficit. Musk, who was brought in as a “special government employee” for a 130-day term, has been spearheading government cost-cutting efforts as head of the Department of Government Efficiency (DOGE).

Musk: ‘A revolution in Government’

Elon Musk in an interview with Fox News, described his tenure as a historic overhaul of federal spending.

“This is a revolution. And I think it might be the biggest revolution in government since the original revolution,” he said.

 “At the end of the day, America’s going to be in much better shape. It’s going to be a fantastic future.”

Musk, 53, who also leads Tesla and SpaceX, and owns social media platform X, has been both praised and criticised for his aggressive approach to cutting government spending. DOGE, an agency staffed by engineers and entrepreneurs, has already laid off tens of thousands of federal workers and slashed funding for various programmes.

Musk confirms 130-day tenure

When asked if he would stay beyond his 130-day term, Musk said he believes his work will be largely complete by then.

“I think we will have accomplished most of the work required to reduce the deficit by $1 trillion within that time frame,” he said.