According to media reports, Tesla CEO Elon Musk recently acknowledged during a town hall event in Wisconsin that his role as an advisor to the Trump administration and his involvement in a government streamlining initiative have significantly impacted his core responsibilities at Tesla.
Musk stated, "Serving in the [Trump administration] position has cost me a great deal." He also noted that some of his political opponents have emphasized Tesla's declining stock price.
"They're trying to put immense pressure on both me and Tesla, aiming to force me out of involvement with the Trump administration," Musk said. "Everyone who holds Tesla stock has seen the value drop by nearly half - this is no joke."
However, U.S. President Donald Trump recently hinted that Musk's tenure as a senior White House advisor may be coming to an end, along with the possible dissolution of the Department of Government Efficiency (DOGE), a Musk-led initiative aimed at drastically downsizing the government.
Trump stated that his close ally Musk might need to return his full attention to running his company, and that after laying off tens of thousands of federal employees, DOGE may have fulfilled its mission.
Speaking about Musk, Trump said, "I think Elon is terrific, but he has a big company to run, so at some point, he'll go back. He wants to go back. I'll keep him around as long as I can."
Musk is currently serving at the White House as a temporary government employee, with a term limit of 130 days - which is set to end by the end of May. However, according to a February report by POLITICO, a White House official stated there is "no clear end date" to Musk's collaboration with Trump, suggesting a potential long-term role.
Tesla's stock reached a record high the month Trump was elected, but since its peak on December 17 last year, it has dropped by 45%. According to the Bloomberg Billionaires Index, Musk remains the world's richest person, though his personal fortune has shrunk by over $100 billion this year.
Commenting on this, Musk said, "In the long run, I think Tesla stock will perform well, so maybe now is a good time to buy."
