Elon Musk was to work for the government as a special employee for 130 days. He has just promised to spend “one or two” a week for the rest of Trump’s four years.
- Tesla CEO Elon Musk announced on Tuesday that he will turn his attention to electric car manufacturers But he said as long as President Trump has him, he will probably still work for the government. however, Special civil servantsMusk was only to spend 130 days a year on government work. With the remainder of approximately 36 weeks per year, the total mask time in the SGE role can range from 126 to 162 days.
Tesla investors are Things gginging Elon Musk returns to the electric car maker and implements a noble plan for taxis, humanoid robots, and an unsupervised, full-self-driving technology autonomous fleet. In a revenue call with analysts on Tuesday, Musk finally said he’s in his duty and vowed to spend less time on government efficiency (DOGE) at Tesla, where he is CEO.
“My time allocation at Doge will be significantly reduced, probably from next month to May,” Musk says. “I have to keep doing that, I think I have the rest of my presidential term to make sure the waste and fraud we stopped ring out.
Musk said, “I’ll spend a day or two a week on government issues as long as the President wants me to do that, as long as it works.”
“But starting next month, I will allocate much more time to Tesla as major work has been undertaken to establish government efficiency,” Musk declared.
Tesla CEO is at his job limit Special civil servants (SGE), but that I will limit him We will provide services within 365 days or within 130 days. But he must be wise about how he assigns Trump days to stay within the rules. With about 36 weeks remaining per year, spending one or two days a week could mean that your mask could take a total of 126 to 162 days.
That designation allows Musk to serve in external roles and committees without making public about his finances needed by a typical government worker. In addition to Tesla, Musk is also closely involved in the collection of private companies he founded. SpaceX, xboring company, Neuralink, and Xai. Typically, the CEO and board members of a company resign from their private sector roles before they are appointed to government positions.
The White House did not immediately respond to a request for comment.
Despite not clarifying the era of masks in support of Trump, Tesla investors have made the decision to be a balm for a troubled car manufacturer. Following Musk’s remarks (a national news headline generated), after Tesla stock trading rose by more than 5%,
The bump came as Tesla as well. announcement Another unfortunate quarter for investors Tumbling operating profit, net profit and operating margins. That’s how the revenue was under Energy revenues rose 67% to $2.73 billion, compared to 9% to $19 billion. Tesla’s cash was around $37 billion, up 38% year-on-year.
Tesla’s related shareholders
Due to the stock’s retail shareholder hordes, Tesla’s investor relations team asks questions ahead of the quarterly call. Inside 161 questions The top three biggest retail shareholders filed about Elon Musk himself asked about his role in the government and what Tesla was doing to mitigate harm to the company.
“Boycotts, protests, vandalism, negative headings, and inventory slides were caused by Elon Musk’s participation in changes to US government services and employment,” he wrote to approximately 88,000 shareholders. “Is the Tesla Board debating whether CEOs should focus entirely on Tesla and leave government to elected politicians?”
Another investor with 365,000 shares asked, “How is the company planning to deal with the impact of its partnership with the current administration?”
A third question, including the third stock, which is third most supported by other investors, asked: “Elon’s involvement with the federal government has led to more attacks than usual. What steps are you taking to mitigate these attacks and educate the public about the benefits of Tesla?”
This story was originally introduced Fortune.com