Most of Musk’s wealth is derived from his shares of Tesla. That equates to a roughly $400 billion drop in the company’s value. Musk and the American Defamation League have both denied Musk’s gesture was connected to a “Nazi salute.”. But the salute, in combination with Musk’s recent implementation of the Department of Government Efficiency, a temporary organization within the Executive Office, has only contributed to public frustrations with Musk.
Those frustrations have manifested in Americans and Europeans pulling out investments in Tesla – both as shareholders and vehicle owners. “This is about safeguarding workers’ retirements,” she said in a statement obtained by the New York Times. “Just this week we saw Tesla stock continue to sink faster than a Cybertruck in quicksand as European sales fell off a cliff. So, we knew we needed to act.”.
Similar frustrations have also swept over employees at Tesla who believe Musk is disengaged from the vehicle company while focusing on his role in the government, the Post reported. In addition to his role supporting Trump, Musk also heads SpaceX, X – formerly Twitter, xAI, Neuralink and the Boring Company.
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