Musk's work leading DOGE, President Donald Trump's initiative to slash federal agencies and their resources, is coming to a formal end.

Tesla stock saw a rally after falling over 1.65 per cent during regular trading on Tuesday, closing at $356.90.

Tesla’s stock just jumped 7.7% in after-hours trading, but investors are still bailing like the ship’s leaking. Elon Musk says he’s stepping back from politics to focus on the company, but that isn’t stopping long-time supporters from walking away.

On Friday, the Trump administration made a big show of what they were calling Elon Musk’s last day as a special government employee — even as few seem to believe Elon Musk is actually leaving for good.

The tech billionaire led the Department of Government Efficiency on a mission to dramatically cut federal spending which saw thousands of jobs axed.