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Elon Musk's Leadership Under Fire as Tesla Faces Stock Plunge and Political Fallout

President Trump publicly supports Musk and Tesla following protests, stock losses, and criticism of Musk's dual roles in business and government.

U.S. President Donald Trump and Tesla CEO Elon Musk sit in a Tesla car model S, in front of the White House in Washington, D.C., U.S., March 11, 2025. REUTERS/Kevin Lamarque
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Elon Musk, chief executive officer of Tesla Inc., left, and US President Donald Trump in a Tesla Model S vehicle on the South Lawn of the White House in Washington, DC, US, on Tuesday, March 11, 2025. Photographer: Samuel Corum/Sipa/Bloomberg

Overview

  • Tesla's stock has dropped over 50% since December, with analysts citing Elon Musk's focus on his government role as a key concern for investors.
  • President Trump showcased Tesla vehicles on the White House lawn and announced his purchase of a Tesla Model S to back Musk and the company.
  • Critics have linked Tesla's struggles to Musk's leadership of the Department of Government Efficiency, which has implemented sweeping federal job cuts.
  • Protests and vandalism targeting Tesla dealerships have increased, leading Trump to suggest labeling such acts as domestic terrorism.
  • Musk has pledged to double Tesla's U.S. vehicle output within two years, though analysts warn other automakers may outpace Tesla in autonomous vehicle development.