Elon Musk’s leadership across multiple businesses faced intense scrutiny on Monday after X, formerly Twitter, experienced multiple outages, Tesla stock plummeted 15.4% in a single trading session, and his government role under the Trump administration sparked controversy.
As millions of users struggled to access X, Musk blamed a “massive cyberattack” originating from Ukraine, though he provided no evidence.
Meanwhile, Tesla’s market capitalisation has dropped by over 50%—a staggering $800 billion loss—since Musk took charge of the Department of Government Efficiency (DOGE), a controversial initiative to reduce federal spending and workforce numbers.
X outage linked to Ukraine
X suffered three separate outages on Monday, with the longest lasting several hours.
Downdetector recorded more than 40,000 outage reports during the second wave, followed by 35,000 during the third.
Users across the US, UK, and India reported widespread issues logging in, posting, or accessing feeds.
The disruption began at approximately 7 a.m. PT (10 a.m. ET) and gradually resolved by 10 a.m. PT.
Despite the scale of the outage, neither Musk nor X’s official accounts issued a detailed explanation beyond Musk’s claim that a cyberattack was to blame. Speaking on Fox Business at 4 p.m. ET, Musk stated,
There was a massive cyberattack to try to bring down the X system, with IP addresses originating in the Ukraine area.
No technical evidence supporting the claim has been provided, and experts have noted that IP addresses can be masked to appear as though they originate from different locations.
The company’s CEO, Linda Yaccarino, remained largely silent during the disruption, apart from amplifying Musk’s tweets.
By late evening, X appeared to be functioning normally, though residual complaints persisted on platforms like Reddit, where some users reported login difficulties.
Tesla’s biggest drop in five years
While X users struggled with access, Tesla shareholders faced a different crisis.
The automaker’s stock tumbled 15.4% on Monday, marking its worst single-day decline in half a decade.
Since Musk took on his government role, Tesla’s value has eroded by more than half, causing concern among investors about his divided attention.
Musk, appointed by the Trump administration as head of the Department of Government Efficiency, has positioned DOGE as a cost-cutting initiative aimed at saving $1 trillion through workforce reductions and streamlined operations. Federal employment numbers declined by 10,000 in February, according to the Bureau of Labor Statistics.
However, the scale of DOGE’s reported savings has been questioned, and the department has quietly removed certain financial claims from its website.
During his Fox Business interview, host Larry Kudlow questioned how Musk was managing Tesla, X, and his other ventures while overseeing DOGE.
Musk admitted, “With great difficulty.”
He defended DOGE’s progress, claiming, “Our savings at this point exceed $4 billion a day.”
Musk clashes with lawmakers
Beyond market turbulence and social media disruptions, Musk engaged in a political dispute with Senator Mark Kelly over Ukraine.
The Arizona senator, a former US Navy pilot and NASA astronaut, visited Ukraine over the weekend and voiced support for the country’s security. Musk responded to his post on X, calling him “a traitor.”
Kelly swiftly fired back, stating,
Elon, if you don’t understand that defending freedom is a basic tenet of what makes America great and keeps us safe, maybe you should leave it to those of us who do.
The exchange unfolded as the Trump administration exerted pressure on Ukraine to accept a ceasefire with Russia, including potential concessions on territorial claims and mineral resources.
Musk’s comments add to growing tensions between his businesses and geopolitical affairs.
His previous interactions with world leaders, particularly regarding Ukraine, have drawn criticism, with some questioning whether his political involvement is impacting Tesla, X, and SpaceX operations.
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