Tensions rose between Tesla and The Wall Street Journal after the newspaper claimed Tesla’s board was looking for a new CEO.
In a post on X, Elon Musk called the article “an EXTREMELY BAD BREACH OF ETHICS” and accused the paper of ignoring a direct denial from Tesla’s board.
Tesla’s board chair, Robyn Denholm, also said in X’s post, “This is absolutely false. The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead”.
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The Wall Street Journal’s report suggested that Tesla’s directors were concerned about Musk’s attention being divided between Tesla and his other companies, including SpaceX, Neuralink, and the merged X and xAI.
It also pointed to his political role advising President Donald Trump’s Department of Government Efficiency (DOGE) as another source of concern.
Some critics believe Musk’s involvement with the Trump administration has hurt Tesla’s image. In the first quarter, Tesla’s profits fell by 71%, and the company’s market value has dropped by more than $800 billion since January.
Tesla also reported a decline in the value of its Bitcoin holdings. Even though the company did not sell any Bitcoin
Musk plans to continue advising DOGE but will mostly do so remotely, which will reduce his time in Washington to focus more on Tesla’s operations.
Meanwhile, OpenAI has recently filed a countersuit against Musk. What does the lawsuit allege? Read the full story.
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