Elon Musk plans to spend more hours at Tesla

70bd78d09a8cb8a98541cd1c9f0f99df Bitcoin Recovery Software 14 11:29 am Crypto Insights

President Trump and Elon Musk with a Tesla on the White House lawn in March.
Elon Musk, President Trump and a Tesla on White House lawn March.

Andrew Harnik / Getty Images

Elon Musk says that he will be spending more time with Tesla. 

Musk announced that he will “allocate much more of my personal time to Tesla”, starting next month, during a conference called following the release of Tesla’s latest financial results.

Tip

Investopedia has live coverage here of Tesla’s earnings.

Musk, who runs Tesla (TSLA) and several other companies, was also active in the second administration of President Donald Trump, helping to set up and run a new Department of Government Efficiency.

His close ties to Trump have spurred some concern among investors that he hasn’t been spending enough time at the company—and that his government work is hurting Tesla’s brand with some buyers. The stock has fallen substantially this year and its core automotive business took a major revenue hit in the 1st quarter. 

Musk did not say he was going to stop working for the government, which he believes is “critical.” He said Tuesday that he expected to spend “a day or two” each week on government-related matters “for as long as the president would like me to do so and as long as it is useful.”

Musk said, “The work required to get the DOGE Team in place and working within the government in order to get our financial house in line is mostly done.” 

Tesla’s stock price rose by 4.8% at the end of trading. The stock price also rose during Tuesday’s regular session.

John Lesley, widely recognized as LeadZevs, is a highly skilled trader with a focus on the cryptocurrency market. With more than 14 years of experience navigating various financial landscapes, including currencies, indices, and commodities, John has honed his expertise in technical analysis and market forecasting.

As a prolific contributor to major trading forums, his insightful articles have attracted millions of readers, establishing him as a thought leader in the field. John operates as both a professional trader and an analyst, delivering valuable insights to clients while successfully managing his own investment strategies.

His deep knowledge of market dynamics and technical indicators empowers traders to make informed decisions in the fast-paced world of cryptocurrency.

Rate author
Bitcoin Recovery Software