A quick look at Elon Musk’s social media pages makes it clear that he’s more focused on his work in Washington D.C. than anything involving electric vehicles (EVs) or rockets.
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Even as Tesla TSLA prepares to report its Q4 earnings and full-year guidance after market close Wednesday, Musk seems much more interested in posting about government-related matters. That may seem odd given that, despite his new position in the Trump White House, Musk is still the CEO of an industry-leading company.
TSLA stock is down today, just hours ahead of the earnings report, in keeping with its trajectory over the past few days. As of this writing, shares are down 1.5% for the day and 6% for the week.
Musk may not be thinking much about Tesla but his shareholders certainly are. And a recent pre-earnings forum suggests that they are concerned about his new position within the Trump administration.
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What does Musk’s new job mean for Tesla? Investors want to know
For years, Musk has juggled running multiple companies that span different industries, including Tesla, SpaceX and The Boring Company. When he acquired Twitter (now X) in 2022, some experts expressed skepticism that he could effectively handle another job, particularly as TSLA shares fell.
After Trump’s presidential victory in November 2024, Tesla stock surged as Musk’s status as head of the Department of Government Efficiency (DOGE) helped generate positive momentum. But since Trump’s inauguration on January 20, shares have been trending downward, even as the company nears a key earnings report.
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As the Tesla Q4 earnings call approaches, though, questions from investors have poured into Tesla’s digital forum.
While plenty of investors have voiced curiosity about the company’s plans for autonomous and robotic technology, another theme is clear: Shareholders seem concerned about Musk spending too much time at the White House, as it may detract from his responsibilities at Tesla.
“How much time does Elon Musk intend to spend at the White House and on government activities vs time and effort dedicated to Tesla?” asked one retail investor. Another asked Musk “How will the new responsibilities at DOGE affect your focus for Tesla?”
Another investor inquired, “How will Tesla manage to have a part-time CEO, with Elon being busy with DOGE, SpaceX, X, and others?” They also asked if a COO would be considered for more responsibility, citing SpaceX COO Gwynne Shotwell as a potential candidate.
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One retail investor used the forum to highlight Musk’s personal focus on in-person work.
"Elon, as someone who values in person work how do you plan on leading Tesla through its next phase of growth while also leading DOGE in Washington DC?” they asked.
Some respondents even raised the question of Musk resigning from Tesla, including one who asked, “What is the succession plan for Elon? " A fair number of fellow investors responded to this question.
Tesla’s management team may have some hard questions to answer
The forum makes clear that Tesla shareholders aren’t just concerned about Musk’s DOGE responsibilities compromising his ability to focus on his companies.
Many respondents also posed questions regarding a gesture Musk performed on stage at Trump’s inauguration that has been compared to a Nazi salute.
While Musk has denied this, his actions have sparked an outcry that extends far beyond the U.S. Tesla owners have expressed significant regret at having purchased his EVs. Some have stated that they will either end their leases early or won’t be buying another EV from Musk’s company.
Related: Angry Tesla owners threaten to take action against Elon Musk
One retail investor raised this point, asking Tesla’s management team, “How is Tesla addressing the negative impacts of Elon’s public views and activities? He’s entitled to his freedom of speech but there are consequences to the public company we love.”
The author also claimed that Musk’s actions reduced Tesla's "serviceable, obtainable market."
Another investor commented similarly, arguing that Musk has negatively impacted both Tesla’s share price and brand reputation. “What is your plan to curtail the CEO’s behavior and/or replace his position to secure a more likely longevity as a brand?” they asked.
Throughout the forum, it is clear that many shareholders see Musk’s politics as negatively impacting Tesla. Other questions posed by shareholders include “How has Elon’s recent arm gestures impacted Tesla sales and forecasts? How does the company plan to win back these customers or mitigate the negative sentiment?”
Another retail investor asked how Tesla plans to respond to Musk’s gesture, adding, “How can shareholders, employees, and overall Tesla progress be protected from the [reckless] actions of this one man?
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