Latest news with #AxiosHarrisPoll
Yahoo
13 hours ago
- Automotive
- Yahoo
Elon Musk's Companies Just Hit Rock Bottom in New Reputation Rankings
Today, in metrics that Elon Musk's enterprises are fully eating dirt: A new Axios Harris Poll of the US's 100 most visible companies showing Tesla and SpaceX, collapsing in reputation. The poll seeks to divine positive consumer sentiment and trust among large companies — and Musk's are crashing, due in no small part to widespread disapproval of Musk's role in the Trump administration, a sentiment that continues to grow across all political affiliations. This isn't a shocking development, but even so, the numbers paint an astonishingly swift fall from grace. In the 2021 poll, Tesla was eighth place in reputation ranking, putting it ahead of brands like Costco, Apple, and Toyota. But along the way, the automaker has since tripped on the staircase up, and come crashing backwards. Last year, Tesla fell all the way down to 63rd place — and now, in 2025, it's plunged to rock-bottom-95th, where it's keeping company with the likes of Meta, Wells Fargo, and UnitedHealth Group. Toyota, it's worth mentioning, has leapfrogged Tesla to 4th place, with five other car companies ahead of the EV automaker. Per Axios, Tesla also placed dead last in "character," and ranked nearly as poorly in areas like "ethics" and "citizenship." SpaceX is hardly better off. In 2021, Musk's aerospace company was sitting pretty at 5th place, but this year it tumbled to 86th. That puts it right alongside a scandal-plagued Boeing, at 88th. SpaceX isn't a consumer facing company like Tesla, so the reputation hit theoretically isn't so material to their future. But the polling data showed a worrying 28.7 percent difference between Republican and Democrat respondents, the outlet reported, which could certainly be a liability down the line if political fortunes swing out of their favor. X (formerly Twitter) also features here — embarrassingly — with a 98th place finish — but it's always done poorly, even before Musk's takeover. Again, this astonishing fall from consumers' good graces can be laid at the feet of Musk, who has alienated consumers on both sides of the aisle with his role in the Trump administration. Through his so-called Department of Government Efficiency, Musk has laid waste to the federal government by firing tens of thousands of government employees, cutting off hundreds of billions of dollars in spending, and tampering with American's Social Security. His personal conduct was likely no less repulsive to those same consumers, including his willingness to engage in (ostensibly) performative Nazism, and his regular sharing of racist conspiracy theories. Beyond poor polling numbers, these actions have had material consequences for his businesses. Musk's actions catalyzed a global "Tesla Takedown" protest movement, with Tesla dealerships and cars regularly targeted with vandalism. The automaker's annual sales declined for the first time in 2024, and have fallen in the first quarter of 2025 by 37 percent in Europe and 9 percent in the US. Its net income during this period, meanwhile, has slid by 71 percent. In a rare moment of self-reflection, Musk himself has admitted that his time in DOGE has incurred some pretty nasty blowback on his businesses. And if this new poll is anything to go by, their reputations are going to need feats of veritable necromancy to recover. More on Musk's business acumen: A Longtime Tesla Bull Dumped His Stock, Predicting a Total Collapse Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
3 days ago
- Automotive
- Time of India
'Make Elon Musk work 40-plus hours and....': Tesla's 12 biggest shareholders send letter to Tesla board with list of 'Dos and Don'ts'
Elon Musk is returning to Tesla, and the company's biggest share holders have some 'do's and don't' for the CEO and company Tesla's major shareholders controlling 7.9 million shares have sent an urgent letter to board chair Robyn Denholm, demanding immediate action to address what they call a "crisis" at the electric vehicle maker. The coalition, including pension funds, the American Federation of Teachers, and state treasurers from New York, Oregon, and Illinois, issued four specific demands to refocus CEO Elon Musk's attention on Tesla amid declining sales and plummeting brand reputation. The shareholders blame Tesla's troubles on Musk's divided attention between the company and outside ventures, particularly his recently concluded role at the Department of Government Efficiency (DOGE) under the Trump administration. Mandate minimum 40-hour work week commitment for Elon Musk The investors want Tesla's board to require Musk to work at least 40 hours per week at the company as a condition of any new compensation package. This demand comes as Tesla's stock has fallen 12% this year while the Nasdaq declined only 1%. The shareholders noted that Tesla's European sales plunged nearly 50% in April compared to the previous year, and global EV sales declined in the first quarter. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like เริ่มแล้ว! ตลาด USDJPY อยู่ในช่วงขาขึ้นกว่าเดิม IC Markets สมัคร Undo Establish clear CEO succession planning The letter demands a formal succession plan identifying emergency replacements for Musk should he become unavailable or lose interest in Tesla. "We believe the company's current disclosure regarding the CEO succession plan does not assure investors that the Board is adequately prepared," the shareholders wrote, emphasizing the need for qualified leadership continuity. Limit directors' external business commitments Shareholders called for stringent policies restricting Tesla board members' involvement in other companies. They propose limiting executive directors to one additional board position and one executive role at another company, arguing this would ensure adequate time dedication to Tesla's oversight and management. Appoint truly independent board members The coalition demanded at least one "truly independent" director with no personal ties to existing board members. They criticized the recent appointment of former Chipotle CFO Jack Hartung, noting his son-in-law works at Tesla and his previous association with Kimbal Musk, Elon's brother who serves on Tesla's board. The shareholders attributed Tesla's reputation crisis partly to Musk's political activities, including nearly $300 million in pro-Trump donations and endorsement of Germany's far-right AfD party. Tesla has dropped from 8th to 95th place in the Axios Harris Poll of America's most admired brands. Musk announced earlier this week that his DOGE tenure had ended and pledged to focus more intensively on his businesses, including Tesla, SpaceX, and xAI. However, investors remain skeptical, with Illinois State Treasurer Michael Frerichs questioning whether Musk has learned from his mistakes or will continue prioritizing other ventures over Tesla's urgent needs. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
5 days ago
- Business
- Yahoo
For Elon Musk and Donald Trump, it's not goodbye, it's see you later
He arrived with a bang, leaping in the air at a campaign rally beside Donald Trump, pledging allegiance to the soon-to-be president last year. He left with a tweet, announcing that his time as a special government employee was over. In between, Elon Musk anointed himself Mr Trump's 'first buddy,' took a hatchet to government jobs and spending, and made himself a regular presence at the White House, holding court in the Oval Office and at Cabinet meetings. His departure was well signposted. Mr Musk offered frequent public reminders that his post was time-limited to 130 days, and in the past month gave briefings and interviews setting out what he had achieved with his Department of Government Efficiency (DOGE) while proclaiming his tech businesses as his first love. 'Is Buddha needed for Buddhism?' he asked, suggesting he had set up the conditions for his work to continue in his absence. His 130 days are up on Friday. White House insiders, who took pains to avoid the world's richest man and his lair in the wood-panelled War Secretary's Office, scoffed at the choreographed exit and any notion that Mr Musk was keeping to a schedule. This, after all, is a president who can upend the law on a whim and could have used any manner of loopholes to keep Mr Musk at his side for longer than 130 days. 'I can't believe you are even asking why he left. Look at the numbers,' said one. Tesla, his electric car company, saw earnings collapse and a string of celebrities, horrified by Mr Musk's place at the heart of the Trump administration, switched to other car makers in a flurry of self-righteous Instagram posts. The company saw its net income collapse by 71 per cent during the first quarter. And the latest data from Europe show sales have fallen there by 50 per cent. There were even headlines at the start of the month that its board was looking for a new chief executive. Meanwhile, Mr Musk's companies took a big reputational hit. An Axios Harris Poll published recently showed that Tesla and SpaceX, another of Mr Musk's interests, saw their public standing fall. Tesla went from eighth in a league table of America's most visible companies four years ago to 95th now. It ranked 100th in 'character.' 'I think I probably did spend a bit too much time on politics,' Mr Musk said in an interview with Ars Technica, a tech news outlet. Yet it hasn't all been bad news for the world's richest man. His own wealth has exploded during his time in Washington, DC. The Forbes Rich List estimates that his personal wealth has increased by $90 billion in just the past month, giving him an overall fortune of almost $432 billion. Tesla's income may have plunged, but its share price is still almost 50 per cent higher than it was on election day. And the State Department has even pushed countries to licence his Starlink satellite service as part of international trade deals. Even so, Mr Musk's departure was marked by headlines describing him as a 'disillusioned' figure leaving Washington with his tail between his legs after falling out with the president. To be sure, this week he made his feelings clear on Mr Trump's 'big beautiful bill' of tax and spending cuts. He told CBS he was 'disappointed to see the massive spending bill, which increases the budget deficit... and undermines the work that the Doge team is doing'. Yet talk of a Trump-Musk bust up does not reach far beyond the headlines. Insiders say they remain tight and the tech billionaire has the sort of wealth that makes him a natural fit for Team Trump. In recent weeks, every time Mr Musk took a step back he would pop up again a few days later, appearing in the middle of the president's trip to the Middle East, for example. Barbara Res, who described her 18-years working for the Trump Organisation in her memoir Tower of Lies, said the president was clearly enjoying basking in his association with the world's richest man. 'He will think that his choice of listening to this person and making it public is an act of brilliance, the act of the great businessman,' she said. 'He can say: 'I found this person who sees things the way I see him, and I'm going to put him in charge.' That will come as some relief to Republicans, facing tough midterm elections next year. Mr Musk was the biggest Trump donor last year, spending more than $200 million, and has promised $100 million for allies next year. None of that money has been paid yet and, although Mr Musk has suggested he will be less active in politics next year, don't be surprised if he pops back up on the campaign trail or at the White House in the weeks and months to come. While that may be reassuring for campaign strategists, it is less so for White House staffers. 'I spent most of the time trying to avoid him,' said one insider, who only half joked about Mr Musk's chainsaw-wielding image. 'The last thing anyone needed was to be on his radar.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
5 days ago
- Automotive
- Yahoo
Tesla investors say company faces 'crisis,' demand Musk work 40-week at automaker
A group of high-powered Tesla investors are growing tired of CEO Elon Musk's "outside endeavors," saying in a letter to the company's board chair that the automaker is facing a "crisis" and Musk needs to return to work. According to the letter, investors are urging Tesla's board to require Musk to work a minimum of 40 hours per week at the Austin-based automaker as a condition for any future compensation plan. The letter also calls for the board to establish a clear succession plan for the company's management. 'Tesla's stock price volatility, declining sales, as well as disconcerting reports regarding the company's human rights practices, and a plummeting global reputation are cause for serious concern,' the letter, addressed to the board chair Robyn Denholm, stated. 'Moreover, many issues are linked to Mr. Musk's actions outside of his role as Technoking and Chief Executive Officer at Tesla, including his high-profile role as an architect of the U.S. Department of Government Efficiency (DOGE).' The letter coincides with Musk's confirmation of his departure from Washington, D.C., marking the end of his time with DOGE and his renewed commitment to his companies. The Delaware Court of Chancery ordered Tesla to rescind Musk's $56 billion CEO pay package from 2018 early last year. The court determined that Musk had exercised control over the company and that the board's compensation committee had misled shareholders. Additionally, reports indicate that Musk is seeking to increase his stake in Tesla, aiming for approximately 25% voting control of the automaker. Tesla has faced extensive backlash as a result of Musk's role in the federal government and close ties to President Donald Trump. Tesla's profit fell 71% in the first three months of 2025, and as of new data, sales in Europe slumped 49% in April compared to a year ago. Tesla's stock is down 12% this year. The Axios Harris Poll, which is a ranking gauging the reputation of the most visible brands in America, used to see Tesla rankd in the top 10. This year, however, Tesla dropped to 95th overall, behind six other automakers. The Axios Harris Poll, which evaluates the reputation of the most visible brands in the United States, previously ranked Tesla among the top 10. This year, however, Tesla landed in 95th place overall, falling behind six other automakers. Tesla showrooms and vehicle owners have been subjected to protests, vandalism and threats of violence. An Austin showroom was targeted in March, and the Austin Police Department's bomb squad later seized potentially incendiary devices after identifying them as a possible threat. One study found that between January and April, 46% of Tesla owners reported that their car has been vandalized, with a third considering getting rid of their vehicle within the next year. Speculation circulated after Tesla's April earnings call that Tesla's board was looking for a new CEO, which the board chair later denied. "Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company. This is absolutely false (and this was communicated to the media before the report was published). The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead," Denholm said in a statement. The investors who signed the letter own about 7.9 million shares in the company combined. According to the letter, the Tesla board is "unwilling to act in the best interest of all Tesla shareholders" by not requiring Musk's full attention on the company. The investors' letter asked Tesla to add a new independent director who does not have personal ties with other board members. Earlier this month, Tesla said former Chipotle CFO Jack Hartung would join the company's board. Hartung previously worked alongside Musk's brother and Tesla board member Kimbal Musk, who was also a board member at Chipotle. Tesla to add at least one new independent director with no personal ties to other board members. Tesla earlier this month said former Chipotle CFO Jack Hartung will join the company's board. Hartung previously worked with Musk's brother and Tesla board member Kimbal Musk, who was a board member at the Mexican food chain. Musk confirmed Wednesday that he'd rededicate more time to his companies, including Tesla, as well as SpaceX and xAI. This article originally appeared on Austin American-Statesman: Musk must work 40-hour week, Tesla investors say as company faces 'crisis'
Newsweek
5 days ago
- Automotive
- Newsweek
Tesla Investors Demand Elon Musk Works 40-Hour-Week
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Investors in Elon Musk's car company, Tesla, have called on Musk to work at least 40 hours a week at the company. In a letter to Tesla's board chair Robyn Denholm, a group of pension fund leaders who own about 7.9 million shares in the company called on the Tesla board to mandate Musk to show more face. They cited concerns about the company's share value and reputation, and made a number of other demands on the company. Why It Matters Musk, the world's richest man, stepped into the political sphere through his support for Trump in the 2024 presidential election. When Trump won, he appointed Musk to head the unofficial Department of Government Efficiency (DOGE). This has had an impact on his businesses. According to an Axios Harris Poll of public perceptions of the 100 most visible U.S. companies, Tesla is the 95th most popular American brand. It previously ranked eighth. Elon Musk looks on as President Donald Trump meets South African President Cyril Ramaphosa in the Oval Office of the White House, Wednesday, May 21, 2025, in Washington. Elon Musk looks on as President Donald Trump meets South African President Cyril Ramaphosa in the Oval Office of the White House, Wednesday, May 21, 2025, in Washington. AP Photo/Evan Vucci Meanwhile, sales of the vehicles made by the U.S. company dropped 49 percent in April compared to the same time last year and its stock price has fluctuated. What To Know The letter blamed Musk's absence on "stock price volatility" and "declining sales" as well as human right's concerns "and a plummeting global reputation are cause for serious concern." They said that "many issues are linked to" Musk taking on roles outside the company, like his role in DOGE. The investors also called for a succession plan for management of the business and a policy to limit board member's outside interests. They also asked Tesla to add one new independent director to the company. The pro-labor SOC Investment Group, American Federation of Teachers, New York City Comptroller Brad Lander and Oregon State Treasurer Elizabeth Steiner were among those who signed the letter. What People Are Saying The letter said: "It has become clear to us that Tesla needs certain corporate governance reforms to address deficiencies in the Board's oversight of company leadership." It added: "Mr. Musk's outside endeavors appear to have diverted his time and attention from actively managing Tesla's operations, as any other chief executive officer of a publicly traded company would be expected to do What Happens Next Tesla has not responded publicly to the letter. Meanwhile, Musk has indicated he may soon pay more attention to his businesses like Tesla. In May, he said he plans to cut back on political spending, telling a conference he had "done enough." He has also recently taken a step away from his political role to focus on his companies.
