Tesla profit drops 71% as Musk signals reduced work on DOGE

Musk clarifies he isn’t stepping away from DOGE completely

Stars Insider

05/08/19 | StarsInsider

CELEBRITY Business

Tesla’s latest earnings report, released on April 22, revealed a 71% year-over-year plunge in net income and a 20% drop in automotive revenue.

As Tesla grapples with falling sales and profits, CEO Elon Musk told investors he plans to scale back the time he spends on federal government-related efforts, though he made it clear he isn’t stepping away from his involvement with DOGE.

"If the ship of America goes down, we all go down with it," Musk said during an investor call later that day, defending his recent focus on reducing the size of the federal government. He also dismissed, without offering proof, protests against Tesla as "paid for," and insisted that demand for Tesla vehicles remains strong despite a notable drop in sales.

These comments add to the ongoing controversy surrounding Musk. Since his 2022 takeover of X, the billionaire has faced intense public scrutiny. Millions of users got a front-row seat to his every move, from laying off thousands of employees to unsuspending accounts that spread misinformation and hate speech. Then, his current involvement with the US government garnered immense criticism, especially after the cost-cutting drives across various departments.

Click through the following gallery to learn more about Musk's journey from business to politics, and why it’s been causing such a stir lately.

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