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Big Challenges Await Musk at X, Tesla, SpaceX
Business Standard
|May 31, 2025
Musk is leaving Washington after a short but turbulent stint in government and getting back to his numerous businesses, each with their own set of issues for the billionaire to address.
Start with his electric car company Tesla. While how much Musk accomplished in his role as President Donald Trump's chief cost-cutter is up for debate, it's clear his association with right-wing politics damaged Tesla's brand and tanked sales.
Musk's social media platform X, formerly Twitter, needs to rebuild its advertising base; his aerospace company SpaceX appears to be financially promising but has seen some recent setbacks; and it's unclear if his satellite business Starlink can keep striking deals without Trump nearby.
Profits plunged 71 percent at Tesla in the first three months of the year right after a Chinese competitor claimed the mantle as the world's biggest electric car seller.
This story is from the May 31, 2025 edition of Business Standard.
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