Skip to content Skip to sidebar Skip to footer

Elon Musk, the world’s wealthiest individual and CEO of Tesla, has recently made a series of controversial moves that have raised eyebrows and impacted the company’s image and future prospects. While these events have unfolded across different locations in the United States, their repercussions have reverberated globally.

It all started when Musk changed his profile picture on X, a social media platform, adding a red tinge and laser eyes, which is often seen as a sign of being bullish on cryptocurrency. This sparked excitement among conservatives, who reported that Musk planned to spend a staggering $45 million per month supporting Donald Trump’s political endeavors.

However, on Monday, Musk clarified that he had no intention of spending such a significant amount and also revealed that his highly anticipated Optimus robots would not be available until 2026. This announcement disappointed many who were eagerly awaiting their release.

Tesla’s quarterly report, released on Tuesday, painted a bleak picture for the company. With increasing competition in the electric vehicle market, Tesla’s profits have taken a hit, declining by 45% this quarter and 55% in the previous quarter. Consequently, Tesla’s stock experienced a decline following the report.

Adding to the challenges, Trump’s presidential plans could further impact the automaker. During his speech at the Republican National Convention, Trump stated his intention to “end the electric vehicle mandate” if elected, potentially leading to the suspension of electric vehicle tax credits. Musk, however, expressed a belief that this could ultimately benefit Tesla in the long term.

Tesla’s image suffered after Musk’s full-throated endorsement of Trump, as many of the company’s customers, who tend to be wealthy and environmentally conscious, lean towards liberal ideologies. Early analysis of the brand’s image following Musk’s endorsement did not bode well for Tesla.

In an attempt to distance himself from Trump, Musk revealed during an interview with Jordan Peterson that he had created a Super PAC called the America PAC. Musk emphasized that the PAC was not meant to be partisan and that he aimed to make America greater, rather than subscribing to a cult of personality.

However, controversy arose during the same interview when Musk deadnamed his trans daughter and referred to her as dead, attributing it to the “woke mind virus.” This statement drew criticism and raised concerns about Musk’s understanding and sensitivity towards transgender issues.

The America PAC, according to FEC filings, has received contributions from notable figures such as Jimmy John’s founder Jimmy Liautaud, the Winklevoss twins, and former Tesla executive Antonio Gracias. The PAC has already spent $21 million, but the exact extent of Musk’s involvement and his planned contributions remain undisclosed.

Meanwhile, Tesla’s future heavily relies on autonomous driving technology. While there are no guarantees of success, the company has staked its future on this innovation. Tesla had initially planned to unveil a long-awaited robotaxi in August, but the event has been postponed to October.