By Hadas Gold, CNN

New York (CNN) — Elon Musk was speaking to Tesla staff in Austin, Texas, last Thursday when he admitted: “I’m stretched pretty thin. I have like 17 jobs.”

The meeting seemed hastily arranged. Employees were notified shortly before the event, which was scheduled for 9:30 pm, Business Insider reported. Never before had a Tesla all-hands meeting been live-streamed the way this one was.

It may have been the first time some Tesla employees had seen their CEO in weeks, as Musk has been spending more time in Washington, DC, working with his new Department of Government Efficiency. The political focus signals a big change for Musk, who has been known to be intimately involved at his companies, even sleeping at Tesla factories or X’s offices during pivotal moments.

Although Tesla’s stocks rallied after the Thursday meeting, investors are increasingly calling for Musk to shift gears as the car maker faces a brand crisis — fueled in part by his politics and involvement in the Trump administration. Tesla sales and stock have been rocked as dealerships, and individual cars have been attacked and vandalized. Prices for used Teslas have plummeted, and Tesla had to recall most of its Cybertrucks in the US because of a problem with its exterior panel.

Investors worry that Musk’s absence could impact the company’s decision-making at such a critical time.

“The point is, this has turned into a tornado that only one person could resolve: It’s Elon,” said Dan Ives, a top analyst with Wedbush Securities and a Tesla bull who has publicly called for Musk to return to the EV maker.

Where has Musk been?

Musk addressed the attacks and vandalism targeting Tesla during last week’s all hands, noting it sometimes “feels like Armageddon” when he watches coverage of them on TV. Those attacking Tesla are “being psycho,” he added.

“There are times when there are rocky moments, a little bit of stormy weather,” he told employees while encouraging them to “hold on” to their stock.

“But what I’m here to tell you is that the future is incredibly bright and exciting, and we’re going to do things that no one I think has even dreamed of,” he continued.

But judging by his public appearances, Musk’s focus has been on his DOGE duties and ties to the Trump administration.

Over the last few weeks Musk has often been seen in Washington or accompanying President Donald Trump, even on the weekends. He made a cameo alongside Trump at a professional golfer’s wedding over the weekend of March 15 at Mar-a-Lago in Florida, for example. Last weekend, Musk tagged along with the president to watch the NCAA Division I wrestling championship in Philadelphia. On Monday, he was sitting at the table during Trump’s Cabinet meeting.

Flight-tracking data for planes associated with Musk largely align with his latest public appearances. But one of Musk’s planes flew to San Jose, California, where many of his companies have major offices, on Tuesday. It flew back to Washington, DC, on Thursday, the same day an interview with Fox News’ Bret Baier aired.

However, the data doesn’t show whether Musk was on the flight, so tracking his aircrafts isn’t a foolproof method of learning his whereabouts.

Still, the time spent away from Tesla is not sitting well with investors.

“No one, including us, expected that he would dive so deep into the end of the pool with DOGE (and the) Trump administration, and it would be occupying 110% of his time,” said Ives.

But Ives said he believes it’s only a matter of time before Musk restores his focus to Tesla, as the all-hands meeting signaled.

“I think there was a groundswell from investors and employees, and he read the room,” Ives said. “That was a big first step. Now the question is, does he take a step back with DOGE?”

‘Decision paralysis’ at Tesla

Musk has never installed a CEO at Tesla like he has at SpaceX or X, because “Tesla is his baby,” Ives said. “Musk is Tesla, and Telsa is Musk.” But that’s hampering decision making, Ives said.

Tesla did not return a request for comment.

Ross Gerber, a major Tesla investor and co-founder of Gerber Kawasaki wealth management, said Musk’s absence can “create a culture where no one is comfortable making a decision” at the company.

Tesla executives making higher-level decisions are at risk of getting fired over making a call that Musk may not agree with, according to Gerber, leading to “decision paralysis.”

Musk is known for taking a hands-on approach to managing his companies, especially Tesla, whose factories he’s said he lived in “for three years straight.” His dedication continued even after Tesla achieved widespread success; for example, biographer Walter Isaacson wrote in 2023 that Musk would regularly visit Tesla’s Palo Alto office and have impromptu discussions with engineers working on Tesla’s Autopilot feature.

Although Gerber said he believes “Elon is the most suited person to run Tesla,” he says it’s time to pass the reins to save the company.

“He’s not coming back to Tesla. He has just moved on,” Gerber claimed. “He has a much bigger role, and in his mind, (he’s) saving the world now.”

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