Elon Musk is now facing an uphill battle after stepping away from his position as an advisor to Donald Trump to focus his attention on his embattled Tesla automotive company.
And with that comes the threat that he may lose the faith of investors who helped make him the wealthiest man in the world.
That is according to former Jalopnik editor-in-chief Patrick George in a column for The Atlantic where he pointed out that it is not just consumers who have fled the Tesla brand due to his close alignment with the unpopular Trump –– which is also currently on the rocks –– but also a "brain drain" at his company that has been occurring while his attention has been elsewhere, primarily with his Department of Government Efficiency (DOGE).
With the company now struggling due to a combination of a consumer boycott, dissatisfaction with a lack of innovation on newer models and plummeting stock prices, George suggested it will be up to the billionaire to turn things around at the company that makes up a large portion of his wealth.
And he currently doesn't have the supporting cast to help him succeed, according to the analysis.
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According to the Atlantic report, "Something similar to DOGE’s steep staffing cuts has been playing out at Tesla. About a third of the executives who stood onstage with him two years ago have left Tesla or been ousted. Many other high-profile company leaders have resigned. Just since April, Tesla has lost its head of software engineering, head of battery technology, and head of humanoid robotics. Tens of thousands of rank-and-file employees left last year amid waves of mass layoffs."
Noting that Musk's hinting that AI will become a larger part of how the company is run, which led to more corporate departures, George wrote, "His actions might finally be catching up with him."
"Whether Tesla can rebound will test something truly scarce—not Musk’s wealth but the faith that others have in him. Musk has already alienated people on the left and right, but many people still fiercely believe in his ability to make them rich," he wrote before warning, "At some point, even they might start to vanish."
You can read more here.
