🥊 Axios PM: Trump vs. his legacy

Plus: Taylor Swift's triumph | Friday, May 30, 2025

View in browser   PRESENTED BY GOLDMAN SACHS   Axios PM By Mike Allen · May 30, 2025 Happy almost-weekend! Today's newsletter, edited by Sam Baker, is 649 words, a 2.5-min. read. Thanks to Sheryl Miller for copy editing. 📺 Breaking: PBS said it's suing the Trump administration over funding cuts to public broadcasting. NPR filed a similar suit last week. Go deeper.     1 big thing: Trump declares war on his own legacy   Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images   President Trump has gone scorched earth against the architects of his own judicial legacy, disavowing the Federalist Society; its chief architect, Leonard Leo; and any judge who stands in the way of the MAGA agenda. ⚡️ Why it matters: Trump's alliance with the conservative legal movement powered his takeover of the Republican Party, Axios Zachary Basu writes. But after a Trump-appointed judge ruled against his tariffs, the president now claims he was naive to trust the conservative legal movement — and that the federal bench he shaped is now conspiring against him. 💥 "I was new to Washington, and it was suggested that I use The Federalist Society as a recommending source on Judges," Trump wrote in a furious Truth Social post last night. "I did so, openly and freely, but then realized that they were under the thumb of a real 'sleazebag' named Leonard Leo," he continued, claiming that the conservative legal activist "probably hates America." "I am so disappointed in The Federalist Society because of the bad advice they gave me on numerous Judicial Nominations. This is something that cannot be forgotten!" 💬 The other side: Few figures shaped Trump's first-term legacy more profoundly than Leo, whose guidance helped stock the federal bench with conservative judges for a generation. "I'm very grateful for President Trump transforming the Federal Courts, and it was a privilege being involved," Leo told Axios in a statement. "There's more work to be done, for sure, but the Federal Judiciary is better than it's ever been in modern history, and that will be President Trump's most important legacy." Go deeper.     2. 👋 Musk's Oval Office farewell   Elon Musk and President Trump in the Oval Office today. Photo: Kevin Dietsch/Getty Images President Trump did most of the talking today at a joint press conference to mark the end of Elon Musk's tenure as a special government employee. Trump even jumped in to answer a question, directed to Musk, about Tesla, AP notes. The president also said, in response to reporters' questions, that he did not have any marital advice for French President Emmanuel Macron and that he has not given much thought to potentially pardoning Sean "Diddy" Combs if he's convicted. 🗞️ Musk brushed off The New York Times' reporting today about his drug use, railing against the paper for "the Russiagate hoax." Go deeper.     A MESSAGE FROM GOLDMAN SACHS Cybersecurity is a bright spot for M&A     Deal making for cybersecurity companies has risen — but is the momentum sustainable? "We have seen a lot of financial sponsor and private equity activity," says Marco Poletti, global head of security software banking at Goldman Sachs. Listen to the podcast.     3. Catch me up   FDA Commissioner Martin Makary, HHS Secretary RFK Jr., and Kennedy's wife, Cheryl Hines, at the White House last week. Photo: Kevin Dietsch/Getty Images 💉 The CDC said it's still recommending COVID vaccines for kids — even after RFK Jr., the HHS secretary, said earlier this week that he was reversing that policy. Go deeper. ⚖️ The Supreme Court allowed the Trump administration to proceed, for now, with a plan to revoke temporary legal protections for more than 500,000 immigrants. Go deeper. 🇨🇳 "I just got back from China last week. They're not scared, folks," JPMorgan Chase CEO Jamie Dimon said today during a discussion of Trump's trade pressures. "This notion they're going to come bow to America, I wouldn't count on that." Go deeper.     4. 🎤 Taylor Swift gets her music back   Photo illustration: Sarah Grillo. Photo: Graham Denholm/TAS24/Getty Images for TAS Rights Management   Taylor Swift finally owns all of her music — a major victory in a long legal fight. Swift's yearslong quest to regain control of her songs fueled a larger cultural debate about artists' rights and the economics of the entertainment business. And "Taylor's Versions" — re-recordings of the albums she didn't own — captivated her fans. 🎵 "All of the music I've ever made... now belongs... to me," Swift wrote in a post on her website. Music executive Scooter Braun bought the rights to Swift's first six albums in 2019, then sold those rights to Shamrock Capital, a private equity firm, in 2020. Swift may have paid roughly $360 million to buy her music back from Shamrock, according to Billboard. Go deeper.     A MESSAGE FROM GOLDMAN SACHS The sharpest insights on every corner of the global economy     Trade, tariffs, monetary and fiscal policy: dive deep into the forces driving the global economy today. What to expect: Market-by-market, region-by-region, sector-by-sector analysis from our specialists on the trading floor to our independent research desks. Explore our macro insights.   📬 Thanks for reading! Please invite your friends to join PM. Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Advertise with us. Axios, PO Box 101060, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. To stop receiving this newsletter, unsubscribe or manage your email preferences.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: