Elon Musk's Wealth Skyrockets By Billions As Tesla Stock Rallies After Billionaire CEO Steps Back From DOGE

Quick Summary:

Musk stated, “I’ll continue to spend a day or two per week on government matters for as long as the President would like me to do so.” He further added, “Starting next month, I'll be allocating far more of my time to Tesla.”

Investors and analysts, who had earlier voiced concerns about Musk’s significant time devoted to leading the Department of Government Efficiency (DOGE), welcomed this renewed commitment.

What Happened: Despite Tesla’s Q1 report revealing profits and revenues below consensus forecasts, the stock’s surge was largely attributed to Musk’s reaffirmed commitment to the company and boosted his net worth by $7.5 billion according to Forbes.

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Article Details

Author / Journalist: Namrata Sen

Category: Technology

Markets: United StatesChina

Topics: News Markets Mobility Tech Department Of Government Efficiency Benzinga US88160R1014 Electric vehicles Benzinga neuro Elon Musk Tesla Earnings TSLA

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-24 @ 10:29:45 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 553 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 28188258

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