Elon Musk, one of the world’s richest businessmen and an advisor to US President Donald Trump, is known for making surprising and bold decisions. However, this time he is facing widespread criticism globally. The reason is his suggestion to reduce the size of the Trump Cabinet, which has not only drawn criticism from political circles in the US and around the world but has also led to protests against Tesla cars in some places.

Musk’s Statement on Tesla Stock

During a town hall event in Wisconsin, Musk said that being in this advisory position is costing him a lot. He explained that his political opponents are highlighting the drop in Tesla’s stock price repeatedly. However, he firmly believes that Tesla’s stock will perform better in the long term. He even called it a great opportunity to buy Tesla stock now.

Musk clarified that his role in the DOGE (Department of Government Efficiency) has put a lot of pressure on him and Tesla. He acknowledged that Tesla’s stock value has fallen by half, which is no small matter.

Tesla Stock Performance and Market Reaction

When Donald Trump was re-elected as US President, Tesla’s stock saw a sharp rise. However, after reaching its peak on December 17th, the stock price started falling.

According to the Bloomberg Billionaires Index, Elon Musk is still the richest person in the world, but his personal wealth has dropped by more than $100 billion this year.

Conclusion

Despite the recent drop in Tesla’s stock price and the criticism Elon Musk is facing, he remains confident in the long-term performance of Tesla. For investors who trust in Musk’s vision and leadership, this could be an ideal time to invest in Tesla stock.