Musk Parts Ways with Trump Administration
Famous american Billionaire and Tesla CEO to Reduce Collaboration with Washington Government Amid Sharp Decline in Company Revenue
Elon Musk, the renowned American billionaire and CEO of Tesla, has announced he will scale back his collaboration with the U.S. government following a significant drop in the company’s revenue during the first quarter of the year.
According to a report by Webangah News Agency, citing Mehr News Agency and Al Jazeera, Musk—who has served as the “Government Efficiency Minister” under President Donald Trump as his return to the White House—stated that due to Tesla’s plummeting earnings, he will reduce his involvement with the Trump administration.
Musk said he will now dedicate “considerably more time” to managing Tesla and will cut his work with the U.S. government to just one or two days per week starting in May.During a remote conference with Wall Street analysts, the owner of social media platform X (formerly Twitter) noted that most of the necessary work for streamlining government efficiency teams and collaborating on Treasury Department reforms had already been completed.
Tesla’s stock,which had fallen over 40% since the beginning of this year,rose by 4.6% shortly after musk’s remarks.
His comments came hours after Tesla reported a 71% decline in net profit for Q1 compared to last year.The company’s revenue also saw a sharp drop—falling from $1.39 billion to $409 million year-over-year for the same period.tesla, which manufactures vehicles for the U.S. market in Texas and California, relies on imported parts from Mexico—a country now facing trump’s 25% tariff on auto imports.
