A little more than a week after President Donald Trump took office for a second term with Elon Musk at his side, Tesla released its fourth-quarter earnings report.
Shareholders of the electric car manufacturer have some concerns now that the CEO of Tesla is firmly established in Washington, D.C., in a prominent advisory position.
More than 100 shareholders posted questions regarding Musk’s politics, including his official position at Trump’s Department of Government Efficiency (DOGE) and his support of far-right candidates, on the forum that Tesla uses to ask investors questions before its earnings calls.
In comparison to his public interactions with Trump, DOGE, and political activities, how much time does Elon Musk spend expanding Tesla, resolving product difficulties, and increasing shareholder value? “Do you think he’s giving Tesla the focus it needs?” inquired a retail investor.
During the fourth quarter, Musk spent weeks on the campaign trail trying to help Trump regain the presidency, in addition to giving $270 million to support Trump and other Republican candidates and causes. Musk then spent a significant amount of time at Trump’s Mar-a-Lago estate in Florida, which is distant from Tesla’s production floor, following Trump’s election victory.
How much time Musk plans to spend at the White House and on government business compared to time and effort spent on Tesla was one of the most popular inquiries about him.
A request for comment was not immediately answered by Musk or Tesla.
In December, before of the February election, Musk fully endorsed the far-right, anti-immigrant party AfD (Alternative f r Deutschland), demonstrating his involvement in German politics.
Due to a number of variables, including Musk’s animosity and Tesla’s outdated EV selection, the value of the Tesla brand dropped by 26% last year, according to research and consultancy firm Brand Finance. Compared to prior years, the study discovered that fewer customers would suggest or think about purchasing a Tesla today.
Musk frequently made a motion during public speeches after last week’s inauguration that many lawmakers and historians believed to be a Nazi salute. While neo-Nazis applauded Musk for his antics, Ruth Ben-Ghiat, whose research has concentrated on fascism, called it a Nazi salute and a particularly aggressive one.
“Will you apologise for the misunderstanding that occurred when you made the hand gesture thanking people for their support?” inquired a shareholder on Say. Both your investors and the general American public would greatly benefit from it. Elon, thank you in advance!
Musk responded to the criticism by claiming that anyone who called the salute a hate gesture was spreading a falsehood. The Anti-Defamation League, however, chastised him for his Nazi-themed wordplay on X, stating that it was improper and insulting to trivialize the heinously horrible Holocaust. Additionally, Musk later made an appearance on camera at an AfD rally in Halle, Germany.
Some investors questioned whether Elon’s political actions had hurt Tesla’s sales, how the firm would react to Musk’s now-famous Nazi salute, and how Tesla was dealing with the fallout from Elon’s public statements and actions.
However, Tesla is not required to discuss any of these subjects on the earnings call. Although that was prior to Trump’s election triumph, investors had many questions and worries about Musk’s political participation before the third-quarter call in October.
On that call, Trump was never addressed.
More from CNBC:
-
The great rotation is finally showing some legs. It s unclear if investors will follow
-
How Zyn helped Philip Morris International make a comeback
-
World s largest sovereign wealth fund reports record $222 billion annual profit on tech rally