AssetID: 54682891
Headline: UNCAPTIONED: Musk to Step Back from Trump Admin as Tesla Profits Plunge
Caption: Musk to Step Back from Trump Admin as Tesla Profits Plunge. Tesla CEO Elon Musk says he’ll scale back his role in Donald Trump’s administration after the company reported a sharp drop in earnings. In the first quarter of 2025, Tesla’s automotive revenue fell 20% year-over-year, and profits tumbled more than 70%. The slump comes amid global protests and boycotts linked to Musk’s high-profile political involvement. Musk has donated over $250 million to Trump’s re-election and currently leads the administration’s Department of Government Efficiency, or DOGE. He now admits the role diverted attention from Tesla and says he’ll reduce his time spent on government duties to just one or two days a week. Despite the backlash, Musk called the DOGE initiative “critical” and insisted much of the work is already complete. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Tesla,CEO,Elon Musk,scale back,role,Donald Trump,US President,Administration,DOGE,revenue,sales,plummeted,fell,global protests,Department of Government Efficiency
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