🚪 Musk's Departure from the $TRUMP Administration
Musk's resignation follows his public criticism of President Trump's expansive spending bill, which he described as a "massive spending bill" that contradicts the administration’s cost-cutting efforts. His departure marks a shift from being an ally of the administration to a vocal critic, highlighting tensions surrounding fiscal priorities.
Despite his exit, Musk expressed gratitude to President Trump for the opportunity, stating that the mission of DOGE "will only strengthen over time as it becomes a way of life throughout the government."
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📉 Impact on Tesla and Musk's Public Image
Musk's political involvement has had repercussions for his business ventures. Tesla experienced a significant decline in sales, particularly in Europe, and its stock value suffered. The company's reputation has also been affected, with a majority of Americans viewing Musk unfavorably.
Additionally, Musk's association with the Trump administration and his role in DOGE have sparked protests and movements such as "Tesla Takedown," aiming to economically impact Musk and challenge his political influence.
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🧠 xAI's Ambitious Moves
In the tech sphere, Musk's AI company, xAI, has been making significant strides. The company raised an additional $6 billion in funding, bringing its total to over $12 billion. xAI also acquired X Corp., the developer of the X (formerly Twitter) social media platform, consolidating both entities into X.AI Holdings Corp.