Elon Musk’s pledge to work round the clock for shareholders—even sleeping on factory floors and in server rooms—lasted just six weeks before the siren call of politics lured him away from his corporate empire.
“Very simply Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the Tesla story,” warned Wedbush Securities tech analyst Dan Ives. “There is a broader sense of exhaustion from many Tesla investors that Musk keeps heading down the political track.”
The Tesla CEO had been so smitten by Trump’s MAGA agenda last year that he put a quarter billion dollars of his own wealth into Trump’s campaign, served as a top advisor in his administration and rarely budged from the president’s side. “This could be the greatest administration since the founding of the country,” he said in late April.
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Now Ives said it would not “shock” him if the the board gets involved at some point to exert pressure on their CEO.
Tesla did not respond to a request for comment by Fortune, but Treasury Secretary Scott Bessent did suggest the company’s directors ought to intervene.
