Tesla CEO Elon Musk has actually blasted The Wall Street Journal (WSJ), calling the publication’s newest report “a very BAD BREACH OF ETHICS,” after it declared the Tesla board was actively seeking his replacement as CEO.
The report, released on April 30, declared that the board had actually approached recruitment companies due to issues over Musk’s political activity and split focus throughout several endeavors.
Musk required to X to knock the short article, mentioning that the WSJ intentionally released incorrect info while purposefully omitting an “indisputable rejection” from Tesla’s board.
Tesla board chair Robyn Denholm likewise released a strong counterclaim early Thursday early morning, publishing on Tesla’s authorities X account that the board had actually not called employers.
” This is definitely incorrect,” she stated. “The CEO of Tesla is Elon Musk and the Board is extremely positive in his capability to continue carrying out on the interesting development strategy ahead.”
Related: WSJ fiasco sustained United States legislators’ ill-informed crusade versus crypto
Musk under analysis for function in DOGE
The WSJ’s report comes in the middle of growing analysis of Musk’s political participation, especially his advisory function in United States President Donald Trump’s Department of Federal government Effectiveness (DOGE).
Critics argue that his participation with the Trump administration has actually harmed Tesla’s brand name, particularly in global markets. Tesla’s first-quarter earnings plunged 71%, and its market price has actually decreased by over $800 billion considering that the start of the year.
The car manufacturer’s Q1 results launched program earnings struck $19.34 billion, missing out on Wall Street quotes by 7.85% and marking a 9.2% fall from the exact same duration in 2015.
Nevertheless, the company kept its Bitcoin throughout the very first quarter of 2025. Tesla’s digital possession holdings dropped 11.61% in worth from $1.076 billion to $951 million in Q1, along with Bitcoin’s 11.56% rate fall to $82,514 over the exact same time.
Musk, who likewise runs SpaceX, Neuralink, and the just recently combined X and xAI, has actually consented to move more of his time back to Tesla in reaction to investor pressure. According to reports, he is now encouraging DOGE from another location and has actually downsized his physical existence in Washington.
Related: Elon Musk’s sale of X to xAI simply made scams suit ‘a lot spicer’
Crypto executives blast WSJ
Musk’s reaction versus the WSJ contributes to a growing chorus of criticism from crypto executives who have actually just recently implicated the outlet of deceptive protection and predisposition versus the digital possession market.
On April 12, Binance’s previous CEO Changpeng Zhao dismissed a WSJ report that declared he has actually consented to offer proof versus Tron creator Justin Sun as part of a plea handle the United States Department of Justice (DOJ).
” WSJ is truly attempting here. They appear to have actually forgotten who went to jail and who didn’t,” Zhao composed in an April 12 X post. “Individuals who end up being gov witnesses do not go to jail. They are secured. I heard somebody paid WSJ staff members to smear me.”
In March 2023, Tether likewise declined a WSJ report declaring it utilized phony files and shell business to keep banking gain access to, calling the claims “stagnant,” “unreliable,” and “deceptive.”
Publication: Binance counters at WSJ, Hong Kong crypto ETF’s take ‘$ 50B comparable’: Asia Express