Elon Musk’s announcement during Tesla’s first quarter earnings call that he would be stepping back from the Department of Government Efficiency (DOGE) has been met with positivity from TSLA investors. Despite Tesla missing Q1 expectations, the company’s stock rose following Musk’s comments.
During the earnings call, Musk acknowledged the backlash Tesla has faced due to his involvement with DOGE. He mentioned that the protests against Tesla seemed organized and possibly paid for, prompting him to reallocate his time towards Tesla. Musk stated that starting in May, he would be reducing his involvement with DOGE to focus more on Tesla, now that the major work of establishing the department is complete.
In response to Musk’s decision, United States President Donald Trump expressed admiration for the CEO, praising his contributions to the administration through his work at DOGE. Trump highlighted Musk’s unfair treatment by some members of the public, emphasizing that Musk’s efforts to help the country have not gone unnoticed. The president commended Musk as a patriot and praised his various projects, including Starlink, Neuralink, SpaceX, and Tesla.
Overall, Musk’s decision to step back from DOGE in order to focus on Tesla has been well-received by investors and praised by President Trump. The CEO’s commitment to his companies and contributions to the country continue to be recognized and appreciated.