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Elon Musk's close ties with the Trump administration have raised concerns about potential conflicts of interest, particularly as he leads the Department of Government Efficiency (DOGE), which claims to have saved $115 billion. Critics argue that these savings may be overstated, with some estimates suggesting inaccuracies of up to 80%. Musk's companies, including Tesla and SpaceX, have benefited significantly from government contracts and subsidies, with reports indicating he has secured at least $38 billion in funding over the past two decades.
Elon Musk expressed shock over escalating violence against Tesla, attributing it to political hatred from the left. He condemned recent attacks, including arson at a Las Vegas service center, and suggested that larger forces may be behind the unrest linked to his ties with the Trump administration. Attorney General Pam Bondi labeled the incidents as domestic terrorism, with ongoing investigations into the attacks.
Elon Musk responded sharply to Minnesota Governor Tim Walz after Walz mocked Tesla's declining stock price. Musk's retort highlighted Walz's lack of political viability, suggesting that his attempts to position himself as a Democratic leader for 2028 are misguided. The exchange underscores the disconnect between political commentary and the realities faced by investors.
Multiple Tesla vehicles were set on fire and shot at in a targeted attack at a Las Vegas service center, with the FBI investigating the incident as potential terrorism. The assailant used Molotov cocktails and spray-painted the word "resist" on the building. Elon Musk condemned the violence, stating that Tesla has done nothing to deserve such attacks, which are part of a troubling trend against the company.
Delaware lawmakers are debating SB 21, a bill that could reshape corporate law to favor controlling shareholders like Elon Musk and Mark Zuckerberg, following concerns over Meta's potential exit from the state. Governor Matt Meyer convened urgent meetings with corporate attorneys and Meta representatives after news of the company's possible departure emerged. If passed, the bill would limit shareholder access to records and alter the scrutiny of corporate deals, impacting ongoing investigations into Meta's governance.
Elon Musk expressed shock over the rise in vandalism against Tesla vehicles, linking it to his political involvement as head of the Department of Government Efficiency (DOGE). He condemned the actions as stemming from "bad people" upset over efforts to combat fraud, while President Trump indicated plans to classify such violence as terrorism. Reports of vandalism, including a Molotov cocktail incident, have prompted FBI investigations across multiple states.
Elon Musk's social media platform, X, has regained its $44 billion valuation following a secondary deal, reversing a significant drop since his acquisition. Despite falling revenues and advertiser boycotts, Musk is pursuing $2 billion in new capital to address debt issues. Meanwhile, his stake in SpaceX has surpassed Tesla as his most valuable asset for the first time in five years.
Elon Musk's influence appears to be waning as Tesla's stock plummets over 40% this year, erasing previous gains. The company faces a significant decline in global sales, particularly in China and Germany, while competition intensifies. Musk's controversial actions and personal brand have further alienated consumers, leading to a notable drop in Tesla's market value and a backlash from activists urging people to divest from the brand.
Prices for used Cybertrucks have fallen nearly 8% since Trump took office, while vandalism against Tesla vehicles has surged, prompting investigations and threats of retribution from the White House. Protests against Elon Musk and Tesla have spread globally, with incidents of violence reported, particularly in left-leaning cities. Musk claims the attacks are organized by left-wing groups, while some Tesla owners express frustration over the stigma attached to their vehicles.
Christopher Tsai, president of Tsai Capital, remains bullish on Tesla, viewing it as resilient even without Elon Musk. Despite recent stock declines and increased competition from BYD, Tsai believes Tesla's fundamentals will drive long-term growth, emphasizing the vast EV market's capacity for multiple players. He has recently resumed buying Tesla shares, confident in the company's future.
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