Tesla CEO Elon Musk Acknowledges Impact of Political Involvement on Tesla, Says Fallout Has Hurt Stock

Benzinga

Elon Musk admitted that his involvement in President Donald Trump’s push to reduce government size is impacting his role as CEO of Tesla, according to Bloomberg. He said at a town hall in Wisconsin that the political fallout has significantly affected Tesla’s stock, which has dropped 45% since its December peak. Musk’s wealth has also seen a decline of over $100 billion this year, according to Bloomberg. The Wisconsin election has implications for issues like abortion and redistricting, and Musk warned that an adverse redistricting ruling could threaten Republican control of the US House. Tesla is seeking an exemption to expand its dealerships in Wisconsin.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Musk admitted that his involvement in President Donald Trump's push

00:05to reduce government size is impacting his role as CEO of Tesla.

00:08And according to Bloomberg, he said that a town hall in Wisconsin,

00:11the political fallout has significantly affected Tesla stock,

00:15which has dropped 45 percent since December peak.

00:17Plus, personal wealth is also seeing a decline of over $100 billion this year.

00:21According to Bloomberg, Wisconsin election has implications for issues like abortion

00:25and redistricting. And Musk warned that an inverse redistricting ruling

00:29could threaten Republican control of the U.S. House.

00:31Tesla is seeking an exemption to expanded dealerships in Wisconsin.

00:34For all things money, visit Benzinga.com slash GSTV.

Category

Transcript

Comments

Recommended