In the ever-dramatic world of Elon Musk, the latest plot twist involves rumors of his potential ousting as Tesla’s CEO. But before you start drafting farewell tweets, let’s set the record straight: Tesla has firmly denied any plans to replace Musk at the helm.
The Rumor Mill Churns
It all began when The Wall Street Journal reported that Tesla’s board had initiated a search for Musk’s successor, citing concerns over his time commitment, especially given his involvement in U.S. politics as head of President Donald Trump’s Department of Government Efficiency. The report suggested that the board was exploring succession plans due to Musk’s divided attention between Tesla and his political role.New York Post
Tesla’s Swift Denial
Tesla Chair Robyn Denholm was quick to refute these claims, labeling the report as “absolutely false.” She emphasized that Musk remains the CEO and retains the board’s full confidence. Denholm stated, “The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.” Cadena SER.
Musk himself took to his social media platform, X, to express his disapproval, calling the article a “deliberately false” and unethical report. The Scottish Sun
Investor Concerns Amid Financial Challenges
The rumors surfaced during a challenging period for Tesla. The company reported a 71% drop in first-quarter profits and lost its position as the top EV producer to China’s BYD. Additionally, Tesla’s shares have plummeted 30% in 2025, erasing over $800 billion in market value. MarketWatch
Musk’s political affiliations and controversial actions—like supporting Germany’s far-right AfD party—have contributed to declining Tesla sales, particularly in the U.S. and Europe. Financial Times
Musk’s Commitment to Tesla
Amid investor concerns, Musk recently pledged to reduce his involvement in his other ventures, including DOGE, to refocus on Tesla. He acknowledged that his role in the Trump administration has “some blowback,” but he also praised DOGE’s work in cutting what he claims is waste, fraud, and abuse in government spending. Financial Times
The Verdict
While the rumor mill continues to churn, Tesla’s leadership stands united in support of Musk. For now, it seems the only thing being replaced at Tesla is the battery packs, not the CEO.
For more insights into this developing story, you can watch the following video:
