US EditionElon Musk Scales Back White House Role to Refocus on Tesla
- Elon Musk announced on Wednesday that he will step back from his government role to refocus on Tesla after the company reported a 71% earnings drop and its worst sales decline.
- The earnings slump followed Musk spending significant time working for the White House's Department of Government Efficiency, which frustrated Tesla's board and prompted a CEO search earlier in March.
- Despite the plunge in sales and profit, Musk owns 410 million Tesla shares totaling 12.8% of the company and aims to steer Tesla toward selling autonomous vehicles as its main business.
- Tesla analysts led by Dan Ives commended Musk for reaffirming his commitment as CEO and expressed confidence that he will remain in the position for at least five more years, while Musk acknowledged facing criticism related to the time he has devoted to his government work.
- The board is currently not actively seeking a CEO replacement, signaling that tensions over Musk's government role may have eased, though some uncertainty remains about Tesla's future leadership and performance.
425 Articles
425 Articles
Tesla Takedown Protesters Are Hitting Musk Where It Hurts: His Bottom Line
On April 26, protesters outside a Tesla Dealership in Washington, D.C. were elated. That week, Elon Musk, Tesla CEO and head of the so-called “Department of Government Efficiency” (DOGE), indicated to shareholders that he would step back from government, allocating a mere “day or two per week” toward DOGE projects. In mandatory Securities and Exchange Commission filings and comments to Wall Street… Source
Tesla denies WSJ report on seeking new CEO succession plan, backs Elon Musk
Tesla has strongly denied a Wall Street Journal report claiming its board had launched a search for a new CEO to replace Elon Musk. In a post on Tesla’s official X account, board chair Robyn Denholm called the WSJ’s claim “absolutely false,” asserting the board remains “highly confident” in Musk’s leadership and growth strategy. The Journal reported that Tesla directors had contacted executive search firms as recently as March, citing anonymous …
Tesla: Elon Musk on the harness, according to the "Wall Street Journal"
Elon Musk's status as boss is questioned at Tesla, the manufacturer of electric cars whose profits and value of the action have collapsed since he took charge of politics in Washington. According to press reports, the company's board of directors is said to have launched a search for a new boss.
Coverage Details
Bias Distribution
- 38% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
