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Elon Musk's father, Errol Musk, dismissed protesters against Tesla's cost-cutting measures as "bums," attributing the backlash to media hype. He defended his son's role in the Trump administration's Department of Government Efficiency, asserting that Elon is capable of managing Tesla while fulfilling his government duties. Concerns from investors about Tesla's performance, including a 40% sales drop in Europe, were downplayed, with Errol predicting a recovery in Tesla's stock price by year-end.
Dogecoin experienced a 6% drop following Elon Musk's clarification that there are no plans for its adoption by the US government, despite ongoing ETF proposals that indicate institutional interest. This decline highlights a shift in market sentiment, as Dogecoin's price has lagged behind Bitcoin and Ethereum, reflecting a reduced sensitivity to Musk's influence. The future of Dogecoin now hinges on regulatory developments and infrastructure progress, with potential ETF approvals serving as a key catalyst for renewed interest.
Elon Musk has once again acquired Twitter, merging it with his AI company, xAI, in a deal valued at $44 billion, despite the platform's declining worth. This transaction, likely a stock swap, aims to combine xAI's AI capabilities with Twitter's extensive reach, raising concerns about potential mass disinformation. Musk stated that the merger would unlock significant potential by integrating their resources and expertise.
Elon Musk and LinkedIn co-founder Reid Hoffman engaged in a heated exchange on social media, with Musk accusing Hoffman of funding protests against Tesla through the organization Indivisible. Hoffman countered, asserting that the protests stem from genuine dislike for Musk, who has increasingly criticized the demonstrators and linked their actions to his efforts to reduce government fraud. Protests against Tesla have escalated, with incidents of vandalism reported and investigations ongoing.
Elon Musk announced a DOGE-led investigation into the wealth of Democratic lawmakers, questioning how they accumulate millions while earning $200,000 annually. He suggested a complex corruption scheme involving taxpayer money funneled through NGOs, potentially benefiting politicians like Maxine Waters and Chuck Schumer. During a town hall in Wisconsin, Musk also awarded $1 million checks to attendees and emphasized his goal to influence the upcoming Supreme Court vote in the state.
Theresa Gasper, a former congressional candidate, expresses her disillusionment with Tesla and Elon Musk, citing a decline in vehicle quality and Musk's controversial actions. After trading in their Teslas, she and her husband opted for Hyundai Ioniq models, hoping to escape the stigma associated with Tesla ownership and inspire others to follow suit.
Elon Musk has heavily invested in the Wisconsin Supreme Court race, supporting conservative candidate Brad Schimel with over $20 million in funding. His involvement has sparked controversy, with Democrats framing the election as a referendum on Musk, while Schimel defends the influence of big money in politics. The outcome will impact the ideological balance of the court and could influence key issues like redistricting and Musk's business interests in the state.
Elon Musk accused Reid Hoffman of funding protests against Tesla, claiming a direct link to the group Indivisible. In a sharp retort, Hoffman countered that the real probability is that many people dislike Musk, suggesting he fabricates accusations instead of addressing his issues. The ongoing protests, some of which have turned violent, reflect growing public anger towards Musk's actions and influence.
Tesla's sales are declining due to a combination of factors, including CEO Elon Musk's controversial political involvement and issues like the Cybertruck recall. Branding expert Allen Adamson suggests that Musk's erratic behavior and the brand's shifting public perception are damaging, indicating that a change in leadership could be beneficial for Tesla's image. In the automotive market, where brand identity is crucial, negative perceptions can significantly impact consumer choices.
Elon Musk emphasized the critical nature of the Wisconsin Supreme Court election, claiming it could determine "the future of civilization." At a rally in Green Bay, he distributed $1 million checks to two voters to promote opposition to "activist judges," despite legal challenges regarding the legality of his actions. The election, which could shift the court's ideological balance, has already become the most expensive judicial race in U.S. history, with over $81 million spent.
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