Musk Opens Up About Challenges in Running Businesses as Tesla Share Price Drops

Elon Musk is facing serious challenges as Tesla share price drops. The entrepreneur, known for his leadership in companies like Tesla, SpaceX, and Neuralink, recently admitted that running his businesses is becoming increasingly difficult. Tesla’s stock has taken a significant hit, and Musk is feeling pressured. In a recent interview, he opened up about his struggles while managing his diverse portfolio of companies.

Tesla Share Price Struggles

Tesla stock price has been struggling lately. The electric vehicle giant has seen its stock drop weekly since Musk joined the Trump administration. As of the latest trading session, Tesla shares fell by more than 15.4%, marking one of the steepest drops in years. This slump has caused a dramatic decline in Tesla’s market capitalization. This has lost more than 50% of its value. The electric vehicle company has lost almost $800 billion in market capital.

Musk acknowledged these setbacks and took to Twitter to provide some reassurance. Despite the drop in Tesla share price, Musk remains confident about his company's long-term prospects. He tweeted, "It will be fine long-term," in response to concerns about the massive stock drop. Musk is known for his optimism. However, this recent decline in Tesla’s stock raises questions about the company's future.

Musk’s Response to Business Difficulties

During a recent interview on Fox Business, Musk discussed the challenges of running multiple businesses. Musk admitted he was doing so "with great difficulty when asked how he managed his various ventures." He laughed off the comment but quickly followed it up with a more serious one. Musk explained that he is working hard to make the government more efficient, eliminate waste, and reduce fraud. According to Musk, his team's efforts at DOGE are already yielding significant savings.

However, running Tesla, SpaceX, Neuralink, and the X social media platform is complex. Musk acknowledged the strain of juggling so many businesses, especially when Tesla share price is struggling. Still, he remains committed to making progress and believes that the savings at DOGE, where he focuses on improving government efficiency, already exceed $4 billion daily.

DOGE’s Role and Musk’s Vision

In addition to Tesla, Musk’s role as the head of DOGE, a government efficiency project, has kept him busy. Under his leadership, DOGE has grown significantly. Musk revealed that DOGE now has over 100 employees across nearly every government agency, and he expects that number to grow to 200 soon. Despite criticism over the effectiveness of DOGE’s savings claims, Musk remains bullish about the project’s potential.

Musk’s team at DOGE aims to save the federal government trillions of dollars, and he predicts that these savings could eventually reach $1 trillion. However, Musk’s bold predictions have been met with skepticism. Some of the savings listed on DOGE’s website were removed after further scrutiny. Nonetheless, Musk continues to push forward with his ambitious goals, even as Tesla share price struggles.

The X Platform and Outages

Another challenge Musk faces is the social media platform X, formerly Twitter. The platform has experienced several outages recently, which Musk attributed to a massive cyberattack. He claimed that the attack came from internet protocol addresses originating from Ukraine but did not provide evidence to support the claim.

These outages have increased the pressure on Musk, especially as his other companies face significant challenges. In addition to the Tesla share price drop, Musk’s ongoing efforts with X are crucial to his broader business goals. The platform, which Musk acquired in 2022, is central to his vision of promoting free speech and increasing the efficiency of social media.

Political Tensions and Musk’s Comments

Musk’s business activities have also intersected with his political views, particularly regarding the ongoing conflict between Russia and Ukraine. In a heated Twitter exchange, Musk called Democratic Senator Mark Kelly of Arizona a “traitor” after Kelly posted about his recent visit to Ukraine. Musk’s comments came from the Trump administration’s push for a ceasefire between Ukraine and Russia. The exchange highlighted the growing tension between Musk’s political stance and the views of some political leaders.

Despite the criticism, Musk’s political comments continue to stir debate. His role in the government efficiency initiative at DOGE has placed him in the spotlight as a businessman and a political figure. While some question his leadership, others support his vision for reducing government waste and inefficiency.

Will Tesla Recover?

Many are wondering whether Tesla will recover from its recent slump. With the share price declining, investors are understandably concerned. However, Musk’s long-term outlook remains optimistic. He believes Tesla’s innovation and growth will eventually lead to a strong recovery, even if the company faces short-term challenges.

Tesla’s electric vehicles continue to dominate the market, and the company’s autonomous driving and renewable energy advancements have set it apart from competitors. However, the current drop in Tesla’s stock price raises essential questions about Musk’s ability to lead the company through turbulent times.