Elon Musk is facing one of the most turbulent moments of his career. As he struggles to balance his leadership roles at Tesla, SpaceX, X (formerly Twitter), and other ventures, his new government position under President Donald Trump is drawing scrutiny. Investors are growing anxious, and Tesla’s stock is in freefall—plummeting nearly 40% since January.
One person saw this coming long before Wall Street took notice: Elon Musk’s father, Errol Musk. His warning last November about the risks of his son stepping away from his businesses for government duties is now looking eerily prescient.
Errol Musk’s Warning: “He Can’t Just Walk Away from Things”
Back in November 2024, Errol Musk voiced concerns about Elon’s potential involvement in government. In an interview with Al Arabiya News, he stated that his son’s businesses demanded his full attention and warned that stepping away from his leadership roles could lead to serious consequences.
“Elon has a tremendous task on his hands. He has a couple hundred thousand employees and a lot of very serious things going on in his life, so he has to be available for all that he started… [he] can’t just walk away from things.”
While Errol acknowledged that his son was well-suited for improving efficiency in government, he made it clear that his real strength was in building and running companies, not sitting in meetings.
“To have him sit in an office somewhere in Washington, waiting and twiddling his thumbs—no, no. He has to be called upon on a sort of consultancy basis.”
At the time, Musk’s father was one of the few voicing concerns. Today, those concerns are shared by thousands of investors.
Tesla Stock Crashes as Musk Admits He Is Struggling
Since Donald Trump took office in January 2025, Tesla’s stock has been in a nosedive, dropping about 40%. On Monday alone, Tesla’s stock fell 15%, wiping out $130 billion in market value—more than the combined worth of Ford and General Motors.
As the crisis worsens, high-profile figures have started to call out Musk for being too distracted by politics. Barstool Sports founder Dave Portnoy recently took to X (formerly Twitter), questioning how low Tesla’s stock would have to drop before Musk “goes back to work.”
Musk himself admitted in a Fox Business interview that he is running his businesses “with great difficulty.” But investors are beginning to question whether “difficulty” is an understatement.
Political Fallout: Tesla’s Sales Plunge, Consumer Perception Worsens
Beyond the stock market, Tesla is losing ground in key global markets. In Europe, Tesla sales dropped by 45% in January, even as the overall EV market continued to grow.
The situation is no better in the U.S. A recent Morning Consult survey revealed that 32% of American consumers now say they wouldn’t consider buying a Tesla—up from 27% last year. The backlash against Musk’s political ties and split focus is clearly affecting the company’s image.
Protests against Tesla have erupted in both the U.S. and Europe, with critics accusing Musk of being too distracted to effectively manage his companies.
Trump Defends Musk: “Radical Left Lunatics” to Blame
Despite Tesla’s struggles, Donald Trump has stepped in to defend Musk, accusing “Radical Left Lunatics” of trying to harm Tesla. In a show of support, Trump even announced that he plans to buy a Tesla himself.
At the same time, some analysts see an opportunity in the chaos. Dan Ives of Wedbush Securities has suggested that Tesla’s stock slump could be a buying opportunity—as long as Musk can refocus on his businesses.
The Million-Dollar Question: Will Musk Turn Things Around?
When Errol Musk warned about his son’s government involvement, he made one thing clear: Elon Musk’s greatest strength is running companies—not working in politics.
“I can’t think of anyone more suited to a role like this than Elon,” he said last November. “But he has to focus on his businesses.”
Now, with Tesla’s stock tanking, sales shrinking, and protests mounting, it appears Errol Musk’s concerns were justified. The question remains: Will Elon Musk listen to the warnings and step away from politics, or will Tesla continue to suffer the consequences?
