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The billionaire entrepreneur will shift his focus back to Tesla, as the company grapples with a staggering revenue drop that has investors sounding the alarm.
Amid fears of tariffs and the implications of his dual role in government, Musk’s decision comes at a critical time for the automaker.
The company has reported a 20 percent decline in car sales revenue and a shocking 71 percent decrease in net income for the first quarter of 2025.
During an earnings call on Tuesday, April 22, Musk stated, “Starting next month, I will be allocating more of my time to Tesla,” while also expressing a willingness to continue his involvement in government matters as long as President Donald Trump desires.
On the call, Musk defended his efforts with the Department of Government Efficiency (DOGE) and remarked on the Tesla protests, labeling the demonstrators as “paid.”
Tesla’s total revenue plummeted to $19.3 billion, a stark nine percent decline from the previous year, attributed to lower vehicle deliveries and a decrease in sales prices.
Additionally, the company’s operating income fell by 66 percent, amounting to $1.4 billion.
Despite these challenges, Musk emphasized that Tesla is “the least affected car company with respect to tariffs, at least in most respects,” crediting the company’s resilient supply chains.
Musk has long advocated for lower tariffs, framing the decision as ultimately resting with elected officials, particularly Trump.
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