Tesla's Musk, Board Reject False Replacement Report

Tesla CEO Elon Musk has publicly criticized a recent article published by a prominent financial news outlet, accusing it of deliberately spreading false information. The article in question alleged that Tesla's board of directors was actively seeking a replacement for Musk due to concerns over his political activities and divided attention across multiple ventures. Musk took to social media to denounce the report, stating that the outlet had knowingly excluded an unequivocal denial from Tesla's board.

Tesla's board chair, Robyn Denholm, also issued a strong rebuttal, affirming that the board had not contacted any recruitment firms and expressing full confidence in Musk's leadership. This backlash from Musk and Tesla's board comes amid growing scrutiny of Musk's political involvement, particularly his advisory role in a government efficiency department. Critics argue that his association with the administration has negatively impacted Tesla's brand, especially in international markets.

Musk's criticism of the outlet echoes recent backlash from executives in the cryptocurrency industry. Changpeng Zhao, the former CEO of a major cryptocurrency exchange, dismissed a report that claimed he had agreed to provide evidence against another industry figure as part of a plea deal. Zhao accused the outlet of bias and misleading coverage, suggesting that the report was an attempt to smear his reputation. Similarly, Tether, a stablecoin issuer, rejected another report alleging the use of fake documents and shell companies to maintain banking access, calling the claims inaccurate and misleading.

Ask Aime: What will Tesla's stock do after Elon Musk's public criticism against the financial news outlet?

The growing chorus of criticism from Musk and crypto executives highlights a broader concern about the accuracy and fairness of reporting in the financial news industry. The backlash against the outlet underscores the importance of ethical journalism and the potential consequences of spreading false information. As the debate continues, it remains to be seen how the outlet will respond to the allegations and whether it will take steps to address the concerns raised by Musk and other industry figures.