Tesla CEO Elon Musk attended a shock Tesla all-hands assembly on Thursday night time to encourage workers and supply updates on Tesla’s work. On the assembly, Musk urged staff to “cling on” to their inventory, describing the inventory plunge as “stormy climate.”
Prior to now three months, Tesla inventory has plunged greater than 50%, erasing $700 billion in market worth and inflicting CEO Elon Musk to lose over $100 billion in web value.
“There are occasions when there are rocky moments, a little bit little bit of stormy climate, however what I am right here to inform you is the long run is extremely brilliant and thrilling,” Musk instructed workers on the assembly, which was livestreamed on X. “And we will do issues that nobody has ever dreamed of.”
Tesla all-hands dwell presentationhttps://t.co/jQOt6WB2LN
— Elon Musk (@elonmusk) March 21, 2025
Musk started the assembly by thanking Tesla workers for his or her work and itemizing a number of achievements: Tesla has produced over seven million automobiles globally since launching its first automobile in 2008 and is on monitor to surpass 10 million subsequent yr; Mannequin Y was the best-selling automobile on the earth in 2023, with 1.22 million items offered globally (and Musk predicted it might even be the best-selling automobile this yr); and the work-related damage fee at Tesla has additionally declined over time.
He additionally famous the corporate stays one of many prime locations to work, per Enterprise Insider.
Musk stated that “total, it is good” at Tesla, although “in case you learn the information, it seems like Armageddon.”
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Musk stated that he could not stroll previous a TV with out seeing a Tesla on fireplace, commenting on the latest wave of crime throughout the nation concentrating on Tesla automobiles and services. The Justice Division on Thursday introduced expenses in opposition to three different people who lit Tesla automobiles and charging stations on fireplace in Oregon, Colorado, and South Carolina.
The actions are in response to Musk’s position in President Donald Trump’s administration as the top of the Division of Authorities Effectivity (DOGE), per Bloomberg. DOGE says it has reduce $55 billion in wasteful spending, although critics say the maths to again up that determine is filled with accounting errors, outdated information, and different errors, per the New York Instances.
Musk didn’t discuss his involvement with DOGE on the assembly, however joked that lighting a Tesla on fireplace was “a bit unreasonable.”
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Wedbush Securities analyst Dan Ives wrote in a notice on Friday that the all-hands assembly was a show of Musk’s management.
“This was a key second for Musk and Tesla to indicate management and he did,” Ives wrote.
Ives suggested Musk to take a step again from DOGE and deal with Tesla. The analyst famous that Musk’s work with DOGE was turning Tesla right into a “political image.”
Tesla shares have fallen from a document excessive of $479.86 on Dec. 17 to $233.06 earlier than the beginning of buying and selling on Friday.
Regardless of the latest losses, Musk stays the wealthiest particular person on the earth with a web value of $311 billion at time of writing.
