Musk to Scale Back Political Role as Tesla's Profits Plummet
Tesla CEO Elon Musk announced plans to reduce his involvement in the Trump administration following a significant dip in the company’s profits and revenues
Elon Musk made a striking appearance at the Conservative Political Action Conference (CPAC) on Thursday, taking the stage with a chainsaw to emphasize his support for reducing the federal budget and workforce. Dressed in a black "Make America Great Again" cap and sunglasses, the Tesla CEO held up the chainsaw, referring to it as a tool against bureaucracy. He was soon joined by Argentine President Javier Milei, who handed him the chainsaw, a symbol Milei frequently uses at political events to represent his mission to significantly downsize Argentina’s federal government.
During his speech, Musk criticized the media, stating that the commonly used phrase "threat to democracy" should instead be replaced with "threat to bureaucracy," arguing that it would make more sense. He accused mainstream media of acting as state mouthpieces, saying, "The legacy media all say the same thing at the same time. They're always saying 'threat to democracy,' but if you just replaced democracy with bureaucracy, it makes a lot of sense."
Meanwhile, Steve Bannon, former White House Chief Strategist and Trump aide, addressed the audience regarding the confirmation of Kash Patel as FBI director. He praised the appointment, calling it a "glorious day" and highlighting Patel’s confirmation by the US Senate.
Following his confirmation on Thursday, Patel, a close ally of President Trump, expressed his gratitude, vowing to rebuild the FBI into an institution that prioritizes transparency, accountability, and justice. He thanked Trump and Attorney General Pam Bondi for their support, emphasizing his commitment to restoring public trust in the agency.
Patel’s nomination faced opposition from Senate Democrats, who unanimously voted against him, along with Republican Senators Lisa Murkowski of Alaska and Susan Collins of Maine. However, he secured confirmation with a narrow 51-49 vote, with support from the rest of the Republican Party, including Senate Minority Leader Mitch McConnell, who had previously opposed other Trump nominees.
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