Elon Musk Slams WSJ Report: A Breach of Ethics?
Tesla CEO Elon Musk launched a scathing attack on The Wall Street Journal (WSJ), denouncing a recent article as an “EXTREMELY BAD BREACH OF ETHICS.” The WSJ report claimed Tesla’s board was actively seeking a replacement for Musk as CEO.
The controversial article, published April 30th, cited concerns about Musk’s political activities and his diverse business interests.
Musk publicly refuted the WSJ’s claims on X, alleging the publication knowingly omitted Tesla’s board’s unequivocal denial.
Tesla board chair Robyn Denholm swiftly followed with a rebuttal on Tesla’s official X account, stating: “This is absolutely false. The CEO of Tesla is Elon Musk, and the Board is highly confident in his ability…”
Related: WSJ’s flawed reporting impacts crypto regulation.
Musk’s DOGE Role Scrutinized
The WSJ report arrives amid increasing scrutiny of Musk’s political involvement, particularly his advisory role within the US government. Critics contend this involvement harms Tesla’s brand image, especially internationally. Tesla’s first-quarter profits plummeted, and its market value significantly declined.
Tesla’s Q1 results, revealing revenues of $19.34 billion, missed Wall Street’s projections and showed a year-over-year decrease. Despite this, Tesla retained its Bitcoin holdings.
Responding to shareholder pressure, Musk has committed to refocusing his time on Tesla, scaling back his other commitments.
Related: Elon Musk’s sale of X intensifies fraud lawsuit.
Crypto Leaders Echo Musk’s Criticism
Musk’s condemnation joins a growing wave of criticism from crypto executives who accuse the WSJ of biased and misleading reporting on the digital asset space. Binance’s former CEO, Changpeng Zhao, recently rejected a WSJ report.
In March 2023, Tether also refuted a WSJ report, labeling the claims “stale,” “inaccurate,” and “misleading.”
Magazine: Binance counters WSJ, Hong Kong crypto ETFs surge.