In May 2025, Elon Musk is once again in the headlines, but this time the reason is not any technology innovation but a media report that has targeted the Tesla CEO. The Wall Street Journal (WSJ) recently published a report, claiming that Tesla’s board is looking for an alternative to Elon Musk. This report not only angered Musk, but also created a stir among investors, tech experts and the crypto community around the world.
Table of Contents
- What Does the WSJ Report Say?
- Sharp Response from Elon Musk
- Tesla Board’s Official Stand
- Tesla’s Financial Dip Amid the Controversy
- Support from Crypto Leaders
- Tesla’s Bitcoin Holdings Update
- Media vs Technology – A Growing Conflict
- Conclusion: Not Just a Report, A Bigger Debate
What does the WSJ report say?
The WSJ report claimed that the Tesla board plans to remove Musk from the post of CEO and a search for a new candidate has been started in his place. According to the report, some of Tesla’s board members are concerned about Musk’s recent activities – especially his political comments and his presence on X (formerly Twitter).
The report also said that Musk’s priorities are now more inclined towards companies like SpaceX, Neuralink and XAI rather than Tesla, due to which the board is looking for new leadership.
Sharp response from Elon Musk
Elon Musk termed this report of WSJ as ‘deliberately false’. He said on X (former Twitter):
“This report is completely false. The Tesla board has never contacted any executive search firm nor is there any question of my resignation. WSJ has once again crossed the boundaries of journalism.”
Musk also said that this report is not only an attempt to mislead Tesla investors, but it is also a serious moral crime. Questioning the journalism of WSJ, he said that even when the clarification from the Tesla board had already been sent, they deliberately ignored it.
Tesla board also denied
Tesla chairwoman Robin Denholm also completely rejected the WSJ news, saying that Musk is invaluable to the company and Tesla is moving forward under his leadership. She clearly said:
“The board has not contacted any search firm. We have full confidence in Elon’s leadership. These types of reports are misleading.”
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Tesla's falling profits and time of controversy
Tesla’s falling profits and time of controversy
This controversy has come to the fore at a time when Tesla’s first quarter profit has fallen by 71%. The company’s stock price has also fallen drastically and the market cap has come down from $800 billion to around $570 billion.
In addition, Musk’s political activism, especially his potential role in the 2024 presidential elections in the US and his close ties with Republican leaders, may make some shareholders uncomfortable.
Support of crypto leaders
Many big names in the crypto world have also reacted to this controversy of Musk. Former Binance CEO Changpeng Zhao (CZ) and Tether CTO Paolo Ardoino supported Musk while criticizing WSJ.
CZ tweeted:
“The media should report responsibly. Such false news only spreads uncertainty in the market.”
Paolo Ardoino also questioned the journalism of WSJ and described Musk as a true innovator.
Status of Tesla’s crypto holdings
During this time, there has also been a slight change in Tesla’s crypto holdings. In the first quarter of 2024, Tesla had bitcoin holdings worth $1.076 billion, which has now come down to $951 million. However, it is clear that the company has not made any major sales.
This indicates that Tesla still considers crypto an important part of its balance sheet and is sticking to a long-term investment strategy.
Media vs Technology – A Growing Conflict
This incident also highlights the story of growing tension between the media and tech giants. Elon Musk, who himself often questions the transparency and bias of media institutions, has now himself become the target of a false report.
This incident also raises the question – are big media organizations publishing such reports under some corporate or political agenda? Or is traditional media losing its credibility in the age of social media?
Conclusion: Not just a report, the beginning of a big debate
This report of WSJ and Musk’s response to it is not just a controversy, but it is the beginning of a big debate about the role of media, CEO accountability and power equations in the world of technology.
Support of crypto leaders, Musk’s outspokenness and Tesla’s financial position – looking at all this, it is clear that this incident of May 2025 is going to become a topic of discussion in more depth in the times to come.
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