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Elon Musk acknowledged that his DOGE initiative, aimed at cutting federal spending, has not met his ambitious $2 trillion goal. While it has saved $160 billion and reduced the federal workforce by 20,000 jobs, internal resistance and public backlash have hindered progress. Musk remains optimistic about the long-term savings potential, suggesting it could still reach $1 trillion, but acknowledges the challenges ahead.
Elon Musk likened himself to Buddha, suggesting that DOGE can thrive without its founder as he steps back to focus on Tesla and other ventures. His government role is limited to 180 days, prompting questions about leadership in DOGE, which he describes as a "way of life." Despite his reduced involvement, Musk will continue to advise the president as needed. Meanwhile, Tesla's board is reportedly seeking a successor amid claims of a crisis, which Musk has dismissed as false.
The potential ousting of Elon Musk from Tesla raises significant questions about the company's future and stock performance. Investors are concerned about how leadership changes could impact innovation, brand identity, and overall market confidence in the electric vehicle giant. The implications for Tesla's stock could be profound, depending on the direction the company takes without its iconic CEO.
Tesla Chair Robyn Denholm has denied a report claiming the board was seeking to replace CEO Elon Musk, stating that the CEO remains Musk and the board is confident in his leadership. The denial follows concerns over Musk's focus on his role in Washington, which has coincided with a 30% drop in Tesla shares this year. Denholm emphasized that the board had communicated the falsehood of the report to the media prior to its publication.
Elon Musk has responded to a significant report regarding Tesla's leadership, addressing concerns raised about the company's management structure. His comments aim to clarify the situation and reinforce confidence in Tesla's direction amidst scrutiny.
At Auto Shanghai 2025, Huawei showcased its 'Auto Wintel' ecosystem, positioning itself as a key player in China's smart vehicle industry without being a car manufacturer. By providing a full tech stack through models like "Huawei Inside," the company enables automakers to enhance efficiency and speed in development, while also presenting a dilemma: adopt Huawei's solutions and risk losing independence or pursue slower, self-developed alternatives. This shift is creating a divide in the automotive landscape between Huawei's ecosystem and Western technologies.
Elon Musk is no longer working from the White House, as reported by the New York Post. Meanwhile, the Tesla board has initiated a search for a new CEO to succeed Musk, according to the Wall Street Journal. This marks a significant shift in Musk's influence in Washington.
Elon Musk is considering deploying his government efficiency team, DOGE, to the Federal Reserve to address perceived waste, highlighted by a costly renovation of its headquarters. Tasked by President Trump, Musk aims to cut federal spending and reshape bureaucracy, with DOGE's mandate extending through July 4, 2026, and potential oversight of spending cuts until the end of 2028.
Elon Musk has acknowledged that his budget-cutting initiative, DOGE, has not met its ambitious goals, achieving only $160 billion in savings instead of the targeted $2 trillion. He indicated that the program may extend through 2028, despite facing significant resistance and criticism. Musk also shared insights from his time in Washington, including his advisory role on defense spending and his experiences staying at the White House.
Elon Musk erupted on X, criticizing a Wall Street Journal report claiming Tesla's board was searching for a new CEO while he focused on cost-cutting. He labeled the article a "deliberately false" breach of ethics, asserting his commitment to the company after recent sales declines. A Tesla spokesperson confirmed the report was false, emphasizing the board's confidence in Musk's leadership.
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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