Trump and Elon Musk to Hold Oval Office Presser Soon/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Donald Trump will hold a joint press conference with Elon Musk on Friday as the Tesla CEO concludes his official White House role. Trump called Musk “terrific” and hinted at ongoing collaboration. Musk recently faced scrutiny over his political spending and government efficiency role.
Trump and Musk Oval Office Briefing: Quick Looks
- Trump and Elon Musk will appear together for a 1:30 p.m. EST press conference Friday in the Oval Office.
- The event marks Musk’s final day in an official capacity, though Trump said he will “always be with us.”
- Trump praised Musk on Truth Social, calling him “terrific” and emphasizing his lasting role.
- Musk led the Department of Government Efficiency, focused on cutting federal spending during his White House tenure.
- Musk’s resignation was announced Wednesday, triggering optimism among Tesla investors after a tough year.
- Tesla shares had suffered in part due to Musk’s political alignment with Trump and support of right-wing parties in Europe.
- Musk recently criticized GOP tax and budget legislation, calling it too costly.
- Despite pledging to scale back political donations, Musk spent nearly $300 million supporting Trump and Republican candidates in 2024.
Deep Look: Musk’s White House Role Ends With Trump Praise and Press Conference
WASHINGTON, D.C. — President Donald Trump is set to share the spotlight one more time with Elon Musk as the Tesla and SpaceX CEO steps down from his formal government role. The two men will hold a press conference Friday at 1:30 p.m. ET in the Oval Office, capping a high-profile but polarizing stint by Musk within the Trump administration.
In a post on Truth Social, Trump offered Musk glowing praise:
“This will be his last day, but not really, because he will, always, be with us, helping all the way. Elon is terrific!”
The announcement comes as Musk’s presence in the administration — and his massive political donations — have drawn scrutiny from both Wall Street and political analysts.
Musk’s Government Efficiency Role
Musk spearheaded what Trump dubbed the Department of Government Efficiency, a policy initiative tasked with identifying and slashing unnecessary federal spending. The effort was controversial, with critics accusing it of functioning more as a symbolic project than a rigorous fiscal review. Nonetheless, it became a cornerstone of Trump’s message around “draining the swamp” in his second term.
While Musk’s exact deliverables remain unclear, his presence in the White House was seen as part of a broader effort to bring tech-forward, private-sector thinking to the federal bureaucracy.
Backlash and Investor Relief
Musk’s involvement in the Trump administration — along with his financial backing of right-wing parties in Europe — led to sustained criticism and market volatility. Tesla shares underperformed through much of 2025, in part due to investor concerns about Musk’s political entanglements.
After announcing his departure from official duties on Wednesday, Tesla shares received a modest bump, reflecting investor relief over Musk stepping away from direct political association.
A Political Force and Big Spender
Despite pledging recently to dial back political spending, Musk had already invested heavily in shaping the 2024 election. Reports estimate that he contributed nearly $300 million to support Donald Trump’s campaign and other GOP candidates, making him one of the most influential donors of the cycle.
Musk has also spoken critically of recent Republican tax and budget legislation, a rare public disagreement with a GOP-led Congress. On Tuesday, he denounced the bill’s cost, reflecting a libertarian streak in his fiscal philosophy.
“We can’t keep mortgaging the future with bloated bills and fake offsets,” Musk reportedly told allies.
Political Future? Tech and Influence Continue
Though Musk’s formal role ends, Trump’s comments suggest the billionaire will continue to play an informal advisory or collaborative role. Trump’s statement that Musk will “always be with us” echoes earlier comments made during the campaign when Musk’s influence over tech regulation and energy policy was expected to grow.
Observers believe Musk will likely continue leveraging his role as tech titan and policy influencer, whether through public commentary, business deals, or ad hoc counsel to the administration.
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