Live updates: Trump holds Cabinet meeting as report shows US economy shrank at start of his term

Elon Musk further signaled he’s stepping back from President Donald Trump’s administration, saying at a White House meeting today that it was an honor to work with Trump’s Cabinet.

Musk told investors on an earnings call last week he would be coming back to Tesla in May, and he was widely expected to stop most of his government work by the end of this month.

“You have been treated unfairly, but the vast majority of people in this country really respect and appreciate you, and this whole room can say that very strongly. You’ve really been a tremendous help,” Trump told Musk. “You’re invited to stay as long as you want. At some point, I guess, he wants to get back home to his cars.”

The Cabinet applauded Musk, who said he cut $160 billion dollars from the federal government — significantly less than his original goal of $2 trillion. But he’d been walking that back in recent months, saying in January that $1 trillion would be an “epic outcome.”

“A lot of stuff is being worked on. That number could be doubled and even tripled,” Trump said.

Musk wore two Trump-branded hats on top of each other at the meeting, with a red “GULF OF AMERICA” hat on top. The second was a DOGE hat.

“Elon, I love the double hat, by the way. He’s the only one who can do that and get away with it,” Trump said.

“Well, Mr. President, you know they say I wear a lot of hats,” Musk said, as the Cabinet members laughed.

Earlier today, the New York Post reported that Musk is no longer working from the White House campus. White House chief of staff Susie Wiles said in an interview with the Post: “Instead of meeting with him in person, I’m talking to him on the phone, but it’s the same net effect.”

Trump has repeatedly acknowledged that Musk would at some point have to leave and return to running his several companies. In early April, Vance told Fox & Friends that Musk would remain a friend and adviser, even after his time as a special government employee ends.

But behind the scenes, there have been arguments between Musk and other Cabinet members. Earlier this month, there was a reported shouting match between Treasury Secretary Scott Bessent and Musk, which White House press secretary Karoline Leavitt brushed off as “part of a healthy debate process.” Musk also tangled with Secretary of State Marco Rubio over cuts at the State Department.