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Elon Musk halfway to becoming world's first trillionaire: report
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Musk's most memorable moments as Trump's advisor
Billionaire Elon Musk has said he is leaving his role in the US government, in which he was tasked with reducing federal spending, shortly after his first major break with Donald Trump over the president's signature spending bill.
While classified as a "special government employee" and "senior advisor to the president," the South African-born tycoon has left indelible marks on American politics as Trump's most visible backer.
- The 'Nazi' salute -
Being Trump's right-hand man took on a new meaning when the world's richest person made headlines by dramatically throwing out his arm -- twice -- at a rally celebrating Trump's January 20 inauguration.
Standing at a podium bearing the presidential seal, Musk's right arm was straight, his hand open, his palm facing down. Historians agreed with Democratic politicians that the sharp gesture looked exactly like a Nazi salute.
The Tesla boss -- whose electric vehicles were soon dubbed "swasticars" by critics -- dismissed the claims, posting on his X social media platform: "The 'everyone is Hitler' attack is sooo tired."
Whatever the display meant, Nazi-related jokes and memes dominated public reactions to the day meant to mark Trump's triumphant return to office.
- Endorsing Germany's extreme-right -
Hot off his salute shock, Musk participated virtually at a January rally for Germany's anti-immigration, ultra-nationalist AfD party.
Musktold the crowd "you really are the best hope" for Germany and urged them to be "proud of German culture and German values."
His endorsement of the AfD shook mainstream German parties, which said they viewed it as foreign interference by Trump's advisor. Vandals burned four Teslas in the streets of Berlin afterward.
Despite record gains at the polls, AfD ultimately took second place in the election behind Germany's conservatives.
- Brings kid to work -
Dressed down in MAGA hats andt-shirts, Musk became a near-constant presence in the White House. For a while, so did his four-year-old son named X.
During Musk's first appearance before reporters since his arrival in Washington to run DOGE, the child was trotted out and Trump said: "This is X and he's a great guy."
The boy was filmed picking his nose while his father boasted about his cost-cutting exploits while standing next to the Oval Office's Resolute Desk.
- Brings chainsaw to budget -
Unelected and unconfirmed by the Senate, Musk has repeatedly bashed the "unelected, fourth unconstitutional branch of government, which is the bureaucracy" and immediately made brutal cuts to the federal workforce and budget.
To illustrate his management style, Musk donned sunglasses and brandished a chainsaw on stage at a conservative get-together in Washington.
It was handed to him -- not turned on -- by right-wing Argentine President Javier Milei, who made the machine a symbol of slashing bureaucracy and state spending in his own country.
- Overshadowing Trump's cabinet -
At Trump's first cabinet meeting on February 26, Musk had a starring role even though he is not part of the cabinet. He stood looming near a doorway, wearing a t-shirt with the words "Tech Support" across the chest as the cabinet met.
Even without a literal seat at the table Musk, who helped bankroll Trump's 2024 presidential campaign, overshadowed the country's most powerful officials.
Trump downplayed this tension shortly before the meeting, posting on his social media platform: "ALL CABINET MEMBERS ARE EXTREMELY HAPPY WITH ELON."
- Trump the Tesla salesman -
With Musk's Tesla car company taking a battering on the stock market and sales dropping sharply, and with vandals targeting his brand, the White House hosted a highly publicized test drive to boost Tesla's reputation.
With a Tesla Cybertruck and a Model S parked on the South Portico, Trump and Musk mounted a sales pitch.
Trump even said he had purchased one.
The stunt didn't ultimately turn around Tesla's plummeting sales, with the electric vehicle maker reporting a 71 percent drop in first-quarter profits.
- Fails to sway court election -
Money can't buy you everything, Musk discovered, after pouring $25 million into the most expensive court race in US history to try to get a pro-Trump Republican judge elected to Wisconsin's Supreme Court.
Musk paid voters $100 to sign a petition opposing "activist judges" and even handed out $1 million checks to voters, beseeching the public to select the conservative judge.
The court's docket was packed with precedent-setting cases over abortion and reproductive rights, the strength of public sector unions, voting rules and congressional district boundaries.
The US state instead chose a liberal judge by a wide margin in April, dismaying the billionaire -- who had spent roughly $277 million in 2024 in the national race to help get Trump elected.
- Tariff dissenter -
After Trump announced his sweeping US tariffs, deeply affecting major trading partners China and the European Union, Musk made the case for a free-trade zone between the United States and Europe.
This clashes with Trump's trade policy.
Shortly after, he called Trump's economic advisor Peter Navarro, a longtime advocate for trade barriers, "dumber than a sack of bricks."
Navarro had taken aim at Tesla, saying the carmaker mostly sourced assembled major components from factories in Asia.
Musk retorted with studies he said showed "Tesla has the most American-made cars."
White House spokeswoman Karoline Leavitt tried to play down the public feud, saying that "boys will be boys."
- Big, Beautiful Bill -
Musk said he was "disappointed" by Trump's divisive mega-bill, which offers sprawling tax relief and spending cuts, in a rare split with the Republican president.
The tech tycoon said the "One Big, Beautiful Bill Act" -- which passed the US House last week and now moves to the Senate -- would increase the deficit and undermine the work of DOGE, which has fired tens of thousands of people.
Critics warn the legislation will gut health care and balloon the national deficit by as much as $4 trillion over a decade.
"I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing," Musk told CBS News.
Musk announced he was quitting his US government role shortly after.
F.Stadler--VB