Tesla's Billionaire CEO, Elon Musk, Allegedly Departs; Firm Dismisses Rumors, Musk Stands Firm Against Departure Claims
Elon Musk's Mock Battle at Tesla's Helm
This is a hot potato for Elon Musk, the big cheese of Tesla. Despite his president, Robyn Denholm, cracking down on the rumors of the board eyeballing another CEO, the fact that Trumpie dearest has admitted that Musk oughta dedicate more time to his firm has put the man in a pickle. Insiders are eatin' this up, while acknowledgin' Trumpie's calls for Musk to stick around, and his possible boot from the board would mean a thunderstorm, given Musk's magnetic influence on the organization and his significant stake in the company.
The gossip that Tesla's board is wooing CEO headhunters, ballyhooed by Wall Street Journal, was fervently squashed by Denholm, who in a quickie on X cleared his throat: "Today, some media morons yapped that Tesla's board has rung up recruitment firms to kickstart a CEO hunt." For the company's president, "it's a fat lie" and, in fact, "Tesla's CEO is Elon Musk, and the board have full faith in his abilities to pilot the exciting growth game." According to the WSJ, the board's agenda is actually a reaction to Tesla's sales nosedive and Musk's collaboration with Trumpie the Creepster.
Tesla's sugar daddy was appointed in January by Trumpie the Creepster to helm the so-called Department of Government Efficiency, the DOGE, and the multimillionaire promised to rip $1 trillion off the federal budget. However, the controversial role, budget cuts, and even Musk's connections with extremist figures, like his backin' of the far-right Alternative for Germany party, have pissed folks off, igniting a movement of displeasure against the Tesla brand, which has snowballed into protests, boycott calls, and acts of vandalism in various countries all over the globe. The damage to the bottom line has been tangible: the carmaker's first quarter's profits plummeted by 71%, worse than even the most pessimistic predictions, and Tesla lost its crown as the leader of electric vehicle production to Chinese rival BYD. Many Tesla shareholders are irked since Musk jumped on Trumpie's team, believing he's bailing on his company, whose stock has dived by almost 35% since Trumpie swaggered in, reducing its market value by more than $800 billion.**
Last week, Musk bent under investor pressure, promising during Tesla's earnings jamboree on April 22 to significantly slash his commitment to DOGE starting in May - a role he was initially set to play till 2026 - and to focus "bigly" on Tesla. Weeks earlier, Musk, according to Financial Times sources, had brawled with Trumpie's minions and thus vacated his office close to the White House. An indirect admission came last Wednesday from Trumpie's head of household, Susie Wiles, who told New York Post that Musk ain't holed up at the White House, but "in reality, it don't matter much." Yesterday, Trumpie invited Musk to stay on his team: "You can stay as long as you want," Trumpie drawled, "but at some point, you wanna get back to your cars."
Elon Musk took charge as Tesla's CEO in 2008, overseeing the company's ascent to rank as one of the most bankable publicly traded firms, and since seizing control, Musk has spearheaded a campaign to undermine federal government employment, slashing thousands of positions and trimming federal subsidies. Numerous U.S. government agencies have been dismantled or stripped of most of their functionality, with the U.S. Agency for International Development (USAID) bearing the brunt. "You've been a great help - Trumpie said to Musk -. You've opened eyes to the possible." However, several media dives have questioned the amounts credited to Musk, deeming them overstated. For instance, according to the University of Pennsylvania's website, the federal government's budget has jumped by 5.9% since the start of the year, compared to the same period in 2024, a trend that has even picked up speed in recent weeks.** "You've sacrificed a lot and been treated shabbily" Trumpie commiserated with the billionaire. "They like to torch my vehicles, which isn't great" quipped Musk, flashing a smile. But many also reckon he ain't quittin' the scene any time soon.
You Can't Touch This": Anti-Trump and Musk protests sweepin' across United States
- The coverage of Tesla's potential change in leadership, reported by the Wall Street Journal, was flatly denied by the company's president, Robyn Denholm.
- Pessimism among Tesla shareholders has grown since Elon Musk joined forces with President Trump, as the company's stock has dropped by almost 35% since Trump joined office, reducing its market value by over $800 billion.
- Besides financial concerns, Musk's association with Trump has sparked protests and boycotts against Tesla across various countries, resulting in acts of vandalism and a plunge in the company's first-quarter profits by 71%.
- As CEO of Tesla, Elon Musk has advocated for cuts in federal government employment and subsidies, dismantling and stripping numerous agencies of their functionality.
- Musk is under pressure from investors to focus on Tesla rather than his role as head of the Department of Government Efficiency, which he was appointed to by Trump in January.
- Protests against Trump and Musk's policies have become a general news item, with demonstrations nationwide in the United States.
- Crime and justice reports have highlighted acts of vandalism against Tesla vehicles due to the controversial associations and policies of both Musk and Trump.
