Elon Musk is being sought for replacement

Tesla's board of directors has begun searching for Elon Musk's successor as CEO. This was reported by The Wall Street Journal citing sources close to the situation.

As the publication notes, the initiative was provoked by investor dissatisfaction with the current state of affairs in the company. The board of directors has already approached several recruitment agencies to launch an official procedure for selecting a new head of Tesla.

The main reason for these steps was the decline in the company's stock value, which, according to sources, was contributed to by Musk's active political activities. His close attention to issues related to the White House is causing concern among investors and consumers.

It was previously reported that the combined losses of American technology billionaires in the period from April 2 to 14 amounted to about 44 billion dollars - partly due to instability caused by new tariffs proposed by Donald Trump. At the same time, Musk increased his fortune by 26 billion dollars.

He currently ranks fourth in the list of the world's richest people according to Forbes, behind Jeff Bezos (Amazon), Bernard Arnault (LVMH), and Bill Gates (Microsoft).