Capering with Calumny: Elon Musk Slams The Wall Street Journal
Crypto pioneers and Elon Musk criticize Wall Street Journal for publishing unconfirmed CEO succession story
The billionaire CEO of Tesla, Elon Musk, has once again made headlines due to a contentious report published by The Wall Street Journal (WSJ). The article, circulating online, hinted at Tesla's board seeking a new CEO to replace Musk, citing his political activities and divided attention across multiple ventures. According to the article, recruitment agencies have allegedly been approached to identify a successor for the electric vehicle titan.
Shortly after the piece went viral on social media, Musk responded publicly on various platforms, decrying the WSJ piece as "EXTREMELY BAD BREACH OF ETHICS." He additionally accused the publication of intentionally excluding a denial from the Tesla board, which had been issued prior to the report's release.
A Public Rebuttal from Tesla's Board Chair
Robyn Denholm, Tesla's board chair, also issued an official statement through Tesla's official account. In the post, she categorically denied the WSJ's narrative and assertions. The statement reportedly emphasized that the "CEO of Tesla is Elon Musk," and the board maintained confidence in his ability to carry on executing the company's impressive growth plan.
It was earlier reported that there was a false media claim that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company. This claim was quickly refuted by the board, who communicated their denial to the media prior to the report's publication. However, the article still went ahead without addressing the important denial.
The Political Snare and Financial Pressure
The WSJ report surfaced at a time when Musk is under increasing scrutiny for his political engagement, specifically his advisory role in the U.S. government's Department of Government Efficiency (DOGE). Critics argue that Musk's political affiliations could damage Tesla's global image, particularly in markets that tend to be more neutral and progressive. Recently, Musk has reportedly committed to dedicating more time to Tesla while continuing his advisory role at DOGE.
Crypto Community Sides with Musk Against WSJ
Musk's backlash has been echoed by the crypto community, with several prominent industry figures also condemning and accusing WSJ of biased and deceptive coverage. This trend suggests a growing tension between traditional media outlets and the DeFi community. On April 12, Binance CEO publicly refuted a WSJ report that alleged he had agreed to testify against Tron founder Justin Sun as part of a plea deal with the U.S. Department of Justice. CZ even went as far as implying that the WSJ may have been swayed by external forces trying to discredit him.
Tech Giants vs. Mainstream Media
These reports painted against Musk and other top crypto figures manifest a deepening divide between Web3 innovators and traditional media institutions. Overall, the Tesla leadership remains steadfast in backing Elon Musk and rejecting what they perceive as irresponsible journalism. This confrontation between the tech world and established media outlets could escalate further if skewed reporting continues.
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This controversy marks another instance of friction between Elon Musk and the WSJ. The CEO's criticism echoes broader skepticism towards traditional media outlets, frequently expressed on social media platforms [1]. Moreover, the cryptocurrency industry has likewise express dissatisfaction with WSJ's reporting. For example, Changpeng Zhao (CZ), the former CEO of Binance, rejected a WSJ report alleging he agreed to provide evidence against Tron founder Justin Sun as part of a plea deal with the DOJ. CZ suggested external forces may be trying to smear him [1]. Similarly, Tether dismissed a WSJ report from March 2023 that asserted it used fake documents and shell companies to maintain banking access, labeling the claims as stale, inaccurate, and misleading [1].
Factors Contributing to the Divide:
- Distrust: The tech and cryptocurrency sectors express distrust towards traditional media's coverage of their activities, perceiving some reporting as biased or misleading.
- Political Affiliations: Elon Musk's political activities and associations could complicate Tesla's image, particularly in progressive markets.
- Media Coverage: The WSJ's coverage of the crypto industry has garnered criticism from influential figures within the sector, including the likes of Elon Musk and Changpeng Zhao (CZ).
- Elon Musk, the CEO of Tesla, decried a report by The Wall Street Journal (WSJ) as a "EXTREMELY BAD BREACH OF ETHICS," alleging the publication had intentionally excluded a denial from the Tesla board.
- Tesla's board chair, Robyn Denholm, issued an official statement denying the WSJ's narrative and assertions, confirming Elon Musk as the CEO of Tesla.
- The WSJ's report, published amidst Musk's political engagement and increasing global scrutiny, implied Tesla's board was seeking a new CEO to replace Musk, citing divided attention and political activities.
- The crypto community rallied behind Musk, with prominent industry figures denouncing the WSJ for biased and deceptive coverage, echoing broader skepticism towards traditional media outlets.
- In a separate instance, Binance CEO, Changpeng Zhao (CZ), publicly refuted a WSJ report that alleged he agreed to testify against Tron founder Justin Sun as part of a plea deal with the U.S. Department of Justice.
- This controversy marks another instance of friction between Elon Musk and the WSJ, fueling broader skepticism towards traditional media outlets within the tech and cryptocurrency sectors.
- The crypto industry has expressed dissatisfaction with WSJ's reporting, perceiving some coverage as biased or misleading, while tech giants like Tesla have largely remained steadfast in backing Elon Musk and rejecting what they perceive as irresponsible journalism.
- Factors contributing to the divide between Web3 innovators and traditional media institutions include distrust, political affiliations, and media coverage, with some tech and cryptocurrency figures labeling WSJ's reporting as stale, inaccurate, and misleading.
