Overview

• Tesla's board and Musk have publicly denied a Wall Street Journal report claiming the company is seeking a new CEO to replace him.
• Musk announced he will reduce his involvement with the Doge commission starting May to prioritize Tesla's recovery efforts.
• Tesla reported a 71% drop in Q1 2025 profits and a 35% stock decline since Musk joined the Trump administration in January.
• The Doge commission, chaired by Musk, has achieved $160 billion in savings—far below its original $2 trillion target—and faces legal challenges from 19 states.
• Public backlash over Musk's political alignment, including protests and vandalism targeting Tesla, has further strained the company's brand and sales.