Tesla’s CEO Elon Musk Returns to Office Routine

Elon Musk, the CEO of Tesla, has decided to return to “sleeping in the office” to reassure shareholders that the company remains focused, especially following his controversial tenure at the White House.

In a post early Sunday on X, formerly known as Twitter, Musk mentioned, “If I have my little one, I’d work seven days a week and go back to sleeping in the office.”

On Wednesday, Tesla is set to release its first revenue report since Musk’s departure from his White House role.

While at the White House, his decisions sparked backlash, leading to protests against severe government spending cuts, during which Tesla vehicles were burned and showrooms were targeted.

Concerns about Musk’s divided attention have arisen among shareholders. Besides Tesla, he’s tied up with several other companies, including SpaceX, Neuralink, and the Boring Company, along with his responsibilities at X.

Musk’s approval of Trump in July 2024 rocked public opinion surrounding him, bringing Tesla shares down to around $250. Even though sales were strong initially, shares hit a record high of $488.54 shortly after Trump took office.

This stock increase was driven by hopes that Musk’s close relationship with Trump might lead to favorable EV policies from the White House.

However, in April, Tesla shares dropped below $215 amid falling sales and concerns over the potential inflationary impact of Trump’s tariffs. A public spat between Musk and Trump on social media in early June didn’t help either.

Despite agreeing to some of Trump’s requests, Musk faced criticism when Trump labeled him as “crazy.”

In the first half of the year, Tesla sold 721,000 vehicles, marking a 13% decline compared to last year, raising concerns that Musk’s political affiliations may be alienating left-leaning EV customers.

Wall Street analysts had anticipated nearly 970,000 in sales, according to FactSet. In the second quarter alone, Tesla sold about 384,000 vehicles.

On Wednesday, analysts expect revenues around 40 cents per share, down from about 50 cents in the same period last year. If this trend continues, it would mark Tesla’s sixth consecutive quarterly decline.

Looking ahead, investors are awaiting the rollout of the Robotaxi in Austin, Texas, with a larger volume expected next year. Shareholders are also keen to learn more about a much-anticipated, lower-priced Tesla model.

Ultimately, though, it seems the most pressing concern is Musk’s commitment to steering Tesla moving forward.