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Elon Musk urged the Department of Government Efficiency (DOGE) to scrutinize the Federal Reserve's $2.5 billion renovation costs, emphasizing the need for transparency in government spending. He criticized the Fed's workforce as "absurdly overstaffed," a claim countered by Fed Chair Jerome Powell, who stated the agency is "overworked" but not overstaffed. Musk's comments reflect ongoing concerns about taxpayer money and government accountability.
Tesla's board has denied reports of searching for a new CEO amid concerns over Elon Musk's focus on his government role, which has coincided with a significant drop in the company's stock and sales. Board chair Robyn Denholm stated the claims were false and expressed confidence in Musk, who has faced criticism for his chaotic management style. Following a 71% drop in first-quarter profits, Musk announced plans to refocus on Tesla after stepping back from his government duties.
Elon Musk engaged with mainstream reporters in the West Wing, reflecting on his role in the Trump administration and comparing himself to Buddha. He acknowledged that the Department of Government Efficiency (DOGE) has only achieved $160 billion in cuts, far from his $1 trillion goal, and admitted that some essential employees were unintentionally let go. Despite stepping back from his DOGE role, Musk will maintain an office on White House grounds, humorously noting its view of an HVAC unit.
Elon Musk met with mainstream reporters in the West Wing, discussing his role in the Department of Government Efficiency (DOGE) and comparing himself to Buddha, suggesting leadership can thrive post-absence. He acknowledged DOGE's cuts fell short of his $1 trillion goal, achieving only $160 billion, and admitted some essential staff were unintentionally let go. Despite reducing his Washington presence, Musk will maintain an office on the White House grounds, humorously noting its view of an HVAC unit.
Elon Musk is reportedly scaling back his involvement with the Trump administration's informal "Department of Government Efficiency" to focus on Tesla, which faces increasing challenges. During a cabinet meeting, President Trump praised Musk's contributions and invited him to remain in his advisory role as long as he wishes, despite the backlash against Musk and Tesla linked to his political alignment. Musk is transitioning to a "maintenance mode" in his advisory capacity, similar to his approach during the Twitter acquisition, as he aims to stabilize Tesla amid growing competition and scrutiny.
Tesla's board reportedly considered replacing Elon Musk as CEO due to concerns over his focus on the company, particularly after he took on a role with the Trump administration. Musk vehemently denied these claims, labeling the report as a "deliberately false article," and Tesla's chair confirmed the board's confidence in his leadership. Despite recent struggles, Musk has committed to dedicating more time to Tesla following a disappointing earnings report.
Tesla's board, facing pressure from a significant drop in share prices and Elon Musk's controversial activities, is reportedly taking a more active role in the company's direction. Analyst Dan Ives noted a shift in Musk's focus during a recent earnings call, suggesting a potential end to his political engagements and a renewed commitment to Tesla's growth. Despite rumors of a CEO search, the board remains confident in Musk's leadership.
Elon Musk described DOGE as "a way of life, like Buddhism," during a recent Q&A, suggesting it could persist until 2029 despite its designation as a temporary organization ending in 2026. He plans to reduce his involvement with DOGE to focus on Tesla, which has faced disappointing earnings and backlash over his political stance and layoffs.
Tesla board chair Robyn Denholm expressed strong confidence in CEO Elon Musk amid reports of the board searching for a new chief executive due to concerns over Musk's focus on politics rather than the company's declining sales and profits. Denholm labeled the report as "absolutely false," while Musk criticized it as an "EXTREMELY BAD BREACH OF ETHICS." As Tesla faces a 71% profit drop and a 13% decline in sales, Musk plans to refocus on the company after stepping back from his role in the U.S. DOGE Service.
Elon Musk likened himself to the Buddha during an Axios interview, suggesting that DOGE represents a way of life akin to Buddhism. He acknowledged that his efforts to cut federal spending have fallen short, estimating only $160 billion of his $2 trillion goal achieved, while also scaling back his time in Washington to focus on his companies amid significant profit declines. Musk's comments came shortly after President Trump humorously expressed a desire to be pope.
Tesla, Inc.
Companies
| Symbol | TSLA |
| Name | Tesla, Inc. |
| Currency | USD |
| Sector | Consumer Discretionary |
| IndustryGroup | Automobiles & Components |
| Industry | Automobiles |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | Palo Alto |
| Zipcode | 94304 |
| Website | http://www.tesla.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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