Elon Musk’s future at DOGE is uncertain. As the CEO of Tesla, he’s been under fire. The company’s car sales have taken a hit, and its stock has plummeted.
Musk’s potential exit from DOGE could be a boon for Tesla. The company’s stock rose 5% after news of his possible departure. But it’s been a tough quarter for Tesla – car deliveries are down 13% from last year, and Chinese production has dropped 11%.
US President Donald Trump is a fan of Musk’s work at DOGE. But reportedly, the two have talked, and Musk is set to return to Tesla soon. A government official confirmed that Trump told his cabinet Musk would leave DOGE in about 130 days.
Despite the recent boost, Tesla’s stock has taken a beating. It’s down 36% this quarter – the worst drop since 2022. Musk’s work at DOGE has sparked controversy, including protests, boycotts, and attacks on Tesla showrooms worldwide. The stock price has suffered as a result.
Musk has been spending big on politics – he poured millions into a campaign to support a Republican judge in Wisconsin. The judge won, but Musk’s focus on politics has raised eyebrows.
Now, New York City Comptroller Brad Lander is calling for the city to sue Tesla and Musk. Lander claims Musk’s work at DOGE has hurt the company and cost the city’s pension fund $300 million. He says Tesla misled investors about Musk’s involvement with the company, and that he’s prioritized politics over his duties as CEO.
The White House has dismissed rumors of Musk’s exit as “trash.” Musk himself tweeted that the news is false. Only time will tell if the rumors are true, but one thing is certain – if Musk doesn’t get back to focusing on Tesla, the company’s reputation, and US electric cars, may fall behind China.