What Next | Daily News and Analysis Why Wall Street Can’t Quit Elon
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Apr 6, 2025 
Felix Salmon, Chief Financial Correspondent at Axios and co-host of Slate Money, dives into Elon Musk's intriguing connection with Wall Street. He discusses Wall Street's enduring support for Musk, despite controversy surrounding his leadership. The conversation highlights the clash between Musk's unorthodox style and traditional corporate norms while unpacking Tesla's recent sales decline. Salmon also explores the implications of Musk's unpredictability for investors and the complex interplay between financial markets and political dynamics.
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Musk's Unique Position
- Unlike typical CEOs, Elon Musk remains in his position despite Tesla's underperformance.
- Tesla's board is filled with Musk loyalists, making his removal unlikely.
Wall Street's Relationship with Musk
- Wall Street banks profit from Musk through M&A deals, lending, and interest payments.
- They facilitated Musk's Twitter acquisition, a deal involving significant debt.
Morgan Stanley and Musk
- Morgan Stanley, a prominent tech banker, prioritizes relationships with tech companies and billionaires.
- They tolerate Musk's erratic behavior, valuing their Silicon Valley reputation and potential profits.