Elon Musk exploded against 'The Wall Street Journal' for publishing fake news.

Tesla CEO, Elon Musk, harshly criticized the Wall Street Journal (WSJ) for an article published on April 30 that falsely claimed Tesla's board had initiated the search for a new CEO due to concerns about his political involvement and the distraction caused by his multiple companies.

Musk described the report as "an extremely serious violation of ethics" and asserted that the outlet had deliberately ignored a categorical denial from the board.

Tesla's board chair, Robyn Denholm, publicly supported Musk, stating on Tesla's official account on X that the article was "absolutely false" and reiterated the board's confidence in Musk's ability to lead the company and execute its growth plan.

According to the WSJ, several board members had contacted recruitment firms about a month ago to explore possible successors, concerned about Musk's increasing involvement in politics, particularly his advisory role in the Government Efficiency Department (DOGE) of Donald Trump's administration.

This involvement has caused significant support for Tesla, especially outside the United States, but left-wing organizations have also targeted it for attack, contributing to a significant drop in Tesla's sales and market valuation.

In the first quarter of 2025, Tesla reported a 71% decrease in its profits, and its market capitalization has shrunk by more than USD 800 billion since the beginning of the year. This is due to factors such as increased competition, a greater consumer preference for traditional vehicles and the high costs of building electric vehicles.

Quarterly revenues were USD 19.34 billion, which represents a 9.2% year-on-year decline and 7.85% below Wall Street estimates. Despite these results, the company maintained its investment inBitcoin, although the value of its holdings fell by 11.61%, in line with the decline in the digital asset's price.

According to the WSJ, under shareholder pressure, Musk had agreed to reduce his direct involvement in Washington and dedicate more time to Tesla. However, the company's shift in focus, from promising affordable electric cars to focusing on autonomous taxis and humanoid robots, has caused some market concerns.

Adding to this is the aging of its current vehicle line-up and growing global competition, especially in Europe, where sales fell by 59% in France and 67% in Denmark in April.

The WSJ also reported that some directors, like JB Straubel, Tesla co-founder, have been meeting with major investors to reassure them about the company's stability. Additionally, the board is considering bringing in a new independent director.

Through a post on the social network "X," Elon Musk stated that the article published by WSJ was a case of a total lack of ethics. This is compounded by numerous criticisms from the company and society, which has grown tired of such attitudes from traditional media.