Elon Musk, the CEO of Tesla, has announced that he will reduce his involvement with the U.S. government to focus more on his businesses. Recently, Tesla reported a major 71% drop in profits. Many shareholders blame Musk for focusing too much on politics and not enough on the company.
Musk was working closely with President Donald Trump as head of the Department of Government Efficiency (DOGE), where he made controversial decisions like cutting spending and shutting down agencies. These actions caused public anger, leading to protests and vandalism at Tesla dealerships.
In response to the backlash and financial loss, Musk has decided to change his schedule. Starting in May, he will spend only one or two days per week working with DOGE and the rest of his time on Tesla and other projects. He hopes this shift will help the company recover and calm the growing criticism.
Vocabulary:
• profits (noun): the money a company makes after expenses
• shareholder (noun): a person who owns shares in a company
• controversial (adj): causing strong disagreement or public debate
• backlash (noun): strong negative reaction from the public
• dismantle (verb): to take something apart or shut it down
• schedule (noun): a plan of activities or times
• agency (noun): a part of the government that handles a specific area
• efficiency (noun): doing things in the best and fastest way
• protest (noun): an action showing disagreement or anger
• vandalism (noun): damaging or destroying property on purpose
• restructure (verb): to change the organization of something (also: rejig)
• involvement (noun): participation or being part of something
• focus (verb): to give attention to something
• stabilize (verb): to make something more steady or secure
Source: Behind the News