Elon Musk's X Seeks Financial Recovery Amid Criticism

Donald Trump's press secretary, Karoline Leavitt, announced that the U.S. government will stop subsidizing subscriptions to Politico, a move linked to the newly formed Department of Government Efficiency led by Elon Musk. This decision has blindsided Politico and its CEO, Mathias Döpfner, who clarified that the subscriptions were not subsidies but part of a capitalist arrangement with the government. Musk's social media platform X has amplified false claims about Politico receiving government funds, prompting Trump to accuse the outlet of bias toward Democrats. Meanwhile, X is struggling financially, facing significant revenue declines and a heavy debt burden, which has led to drastic cost-cutting measures. Musk's influence in the government raises fears of potential retribution against advertisers, as X seeks to regain their support. Overall, the situation highlights the intersection of media, politics, and financial pressures within Musk's expanding influence.