After months of erratic behavior, billionaire entrepreneur Elon Musk has seemingly reversed course, focusing on his ailing businesses, including Tesla. The EV maker’s shares have rallied following his departure from intense government dealings, which damaged its credibility and image.
Musk recently announced that he would cut down the time spent reshaping the federal government, allowing him to refocus on his companies. This decision was met with a surge in Tesla’s stock value after a decline caused by Musk’s periods of intense political activity.
However, some question whether this shift is genuine or just a temporary reprieve from criticism. In recent weeks, Musk has faced intense backlash for spreading racist conspiracy theories and making far-right comments. His actions have led to a significant loss of reputation and popularity, with even Republican lawmakers in the White House reportedly disapproving of his behavior.
Despite struggling to revitalize SpaceX’s Starship program, which has experienced several setbacks, including a recent test flight that ended in failure, Musk appears determined to rebuild his public image. During an interview with Ars Technica, he expressed concern about the rocket’s potential failures and acknowledged the need for caution.
Musk’s sudden change of heart raises concerns about his motivations and whether this is merely a response to criticism or a genuine attempt to revive his businesses. Nevertheless, his shift towards focusing on Tesla appears to be having a positive impact on its stock value, at least in the short term.
Source: https://futurism.com/sense-elon-musk-desperation