Elon Musk put all his energy into supporting Donald Trump during the US election campaign at the end of last year. November 2024 will undoubtedly have been a great month for him. At least, that's what the images showing him at each of the newly elected president's rallies suggest.
For example, here...
And here, in Pennsylvania
Seduced by promises of economic renewal and an unapologetic vision of capitalism, Musk was quickly appointed head of the DOGE. He threw himself into the role with enthusiasm, determined to shake up the federal administration.
But now, a few months later, the results are less than impressive.
Elon Musk acknowledges that the federal savings achieved under his leadership are far from the initial targets. Despite massive job cuts in the civil service—we are talking about tens of thousands of jobs—more significant cuts would have required touching the government's main areas of spending, notably pensions and healthcare.
On the issue of customs duties, the businessman also made it clear that his vision of the economy was more in line with free trade. He did not publicly criticize his president's choices, but he did take a swipe at Peter Navarro, the White House economic adviser and chief architect of the customs barriers. He has highlighted his own economic vision, for example in a video interview with Italian Deputy Prime Minister Matteo Salvini, in which he said: "I hope we can agree that Europe and the United States should, in my opinion, ideally move towards a zero tariff situation."
Meanwhile, Elon Musk's public image has deteriorated significantly. The centi-billionaire announced last week that he now wants to refocus on Tesla, although he will retain a relative presence in the White House and DOGE.
Since the stockmarket highs of last December, the stock has lost more than 40%. The brand's image, which is deeply linked to its CEO, has been affected. But so has the market. Tesla is suffering from fierce competition from China and financial performance that is now in line with that of other players in the automotive sector. Growth has been lacking for two full fiscal years, and this year looks set to be another difficult one, especially if US trade policy intensifies. Tesla cannot even count on its other businesses—energy and services, which represent 10.3% of total revenue—as they are also being hit hard.
Elon Musk's return therefore comes at an extremely tense time. The Wall Street Journal reveals that his position is even under threat, as the company's board of directors has reportedly begun quietly searching for a successor. Tesla and Elon Musk have denied the reports.
In this context, this week's cartoon is inspired by the cult scene from the movie The Wolf of Wall Street, when DiCaprio, alias Jordan Belfort, harangues his teams in an excited and frenzied manner... With the difference that Elon Musk's "COMEBACK" is not, for the moment, unanimously supported by the assembly.
Image taken from La Cinémathèque Française showing Jordan Belfort (Di Caprio) in front of his teams in The Wolf of Wall Street.
