The main advisor of the White House, Elon Musk, goes to the White House after landing in Marine One on the South lawn with the American president Donald Trump (not illustrated) on March 9, 2025 in Washington, DC. Trump returned to the White House after spending the weekend in Mar-A-Lago, his private club in Florida.
Samuel Corum | Getty Images News | Getty images
Tesla The actions increased Wednesday after Politico reported that Elon Musk could leave his post to the so-called Ministry of Government efficiency, paving the way for the CEO to focus on the manufacturer of electric vehicles in difficulty.
The stock was up 4%. During session, he had dropped up to 6.4% at the back of lower vehicle deliveries than expected for the first quarter.
The report – which quotes Trump’s initiates – noted that, although President Donald Trump is satisfied with Musk and the Doge’s spending cuts that have been pushed, the two have decided in recent days that the billionaire would soon return to his businesses.
TSLA recovers
Wednesday’s report occurs during a difficult section for Tesla. Despite Wednesday’s earnings, the stock dropped by more than 5% in the last month. One year to date, it has dropped more than 31%. Actions also lost 36% in the first quarter, marking their greatest quarterly decrease since 2022.
The role of Musk in the White House is a weighing factor on Tesla’s stock. He sparked waves of demonstrations, boycotts and violent attacks against Tesla stores and vehicles around the world. Trump’s car rates are also a concern because they involve the main Tesla suppliers – especially in Mexico and China.
“My stock of Tesla and the stock of all those who hold Tesla left, went almost in two,” said Musk on Sunday evening during a rally he organized in Green Bay, Wisconsin, to promote the right judge he supported during the Supreme Court of the Tuesday state. “It’s a very expensive job, that’s what I say.”
New York Brad Lander controller urged the city to continue Tesla on behalf of New York pension funds citing Musk’s work for the White House.
In a Tuesday press release, the Lander office said: “The basis of the potential dispute is the important anomalies of Tesla saying that CEO Elon Musk spends a lot of time to the company and is very active in its management, despite its launch of the Trump administration’s DOGE initiative, the damage for a short time to manage Tesla’s activities.
CNBC contacted the White House to comment.
