‘The Big Money Show’ panelists react to Elon Musk’s latest announcement relating to his involvement within the Division of Authorities Effectivity.
Elon Musk and Tesla are pushing again on a report that the corporate launched a seek for its subsequent CEO, calling it “absolutely false” and an “extremely bad breach of ethics.”
The Wall Road Journal reported Wednesday evening that Tesla’s board members reached out to quite a few government search companies round a month in the past to work on a proper course of to discovering Musk’s successor.
It attributed the event to individuals conversant in the discussions and famous that it occurred as Tesla’s inventory was sinking and a few buyers had been getting irritated with Musk’s function at the Division of Authorities Effectivity (DOGE).
The board in the end narrowed its focus to at least one high search agency, in accordance with the report. Tesla’s board additionally met with Musk round that point and advised him he wanted to spend extra on the corporate and to say so publicly – one thing he didn’t push again on, the Wall Road Journal mentioned, citing individuals conversant in the assembly.
Nevertheless, Robyn Denholm, the chair of Tesla’s board of administrators, wrote on X this morning that “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.”
TESLA EARNINGS FALL SHORT; ELON MUSK SAYS DOGE TIME WILL ‘DROP SIGNIFICANTLY’
Tesla CEO Elon Musk wears a cap with the phrases “Gulf of America” as he attends a cupboard assembly held by President Donald Trump on the White Home on Wednesday, April 30. (Reuters/Evelyn Hockstein / Reuters)
“Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company,” she wrote on X, a platform Musk additionally owns.
Ticker Safety Final Change Change % TSLA TESLA INC. 282.16 -9.87
-3.38%
“This is absolutely false (and this was communicated to the media before the report was published),” she continued.
ELON MUSK PREDICTS ROBOTS WILL OUTSHINE EVEN THE BEST SURGEONS WITHIN 5 YEARS
Elon Musk, chief government officer of Tesla, and President Donald Trump converse to members of the media whereas taking a look at Tesla autos on the South Garden of the White Home in Washington, D.C., US, on March 11. (Samuel Corum/Sipa/Bloomberg through Getty Photographs / Getty Photographs)
Musk himself mentioned “It is an EXTREMELY BAD BREACH OF ETHICS that the WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors!”
“WSJ is a discredit to journalism,” he added in a follow-up publish.
Final week, Tesla revealed in an earnings launch that it generated $13.97 billion in automotive income within the first three months of 2025, marking a drop of practically 20% from the identical quarter final 12 months.
Elon Musk leaves following a luncheon with members of the Senate Republican Convention on Capitol Hill in Washington, D.C., on March 5. (Reuters/Kent Nishimura / Reuters)
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Throughout an earnings name, Musk mentioned his “time allocation to DOGE will drop significantly.”
FOX Enterprise’ Aislinn Murphy contributed to this report.
