Billionaire Elon Musk has called a Wall Street Journal article about the search for a replacement for him as Tesla CEO “false.”
The WSJ, citing sources, reported that the company’s board of directors contacted executive search firms about a month ago amid falling Tesla shares and investor dissatisfaction with Musk’s focus on the White House.
Tesla called the publication “absolutely false,” noting that it had denied this information before the article was published. “Tesla’s CEO is Elon Musk, and the board has full confidence in his ability to continue to execute on his exciting growth plan,” the company said in a statement to X.
Musk considered it “an extremely serious violation of ethical conduct” that the WSJ did not include a rebuttal from Tesla’s board of directors in the “deliberately false” article. “WSJ is a discredit to journalism,” he wrote in X.
Tesla’s market value hit a record $1.5 trillion in December amid expectations that Musk’s close partnership with President Donald Trump would benefit the company. But it has since fallen to about $900 billion. Tesla shares continue to fall. This comes as the company’s popularity has declined not only in the U.S. but also in Europe due to Musk’s support for far-right European parties. In addition, Trump’s tariffs on goods from China have thwarted Tesla’s plans to mass-produce its Cybercab electric trucks
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