Topline
Tesla chief Elon Musk said in a Tesla earnings call Tuesday that his time spent leading the Department of Government Efficiency and working with the Trump administration “will drop significantly” starting next month, ensuring investors he will dedicate more time to Tesla shortly after the electric vehicle maker reported its worst quarterly profit in years.
Musk made the comments during a Tesla investor meeting Tuesday evening. (Photo by Andrew … More
Key Facts
Musk told investors “starting next month, I’ll be allocating far more of my time to Tesla,” noting he will continue to spend a day or two per week on government matters “for as long as the president would like me to do so, and as long as it is useful.”
Musk also briefly addressed President Donald Trump’s sweeping tariff policies, saying he will “continue to advocate for lower tariffs instead of higher tariffs, but that’s all I can do.”
The billionaire defended his work with DOGE, blasting critics of the agency and recent protests against Tesla, alleging protesters that organized against the electric vehicle maker last month were paid with “fraudulent money.”
Musk’s comments come hours after Tesla reported its worst quarterly profit since 2021 and revenue $2 billion below average Wall Street estimates.
Tesla stock closed up 4.6% at $237.97 on Tuesday, surging another 4% in after-hours trading, though the share price remains around their lowest point so far this year.
Big Number
Musk’s estimated net worth is up nearly $6 billion Tuesday, reaching $361 billion. He has remained the wealthiest person in the world by far recently, even though his net worth is down over $100 billion from its peak in December.
This is a developing story. Check back for updates.