Elon Musk admitted that leading former President Donald Trump’s initiative to downsize the government is taking a toll on him—both personally and professionally. Speaking at a town hall in Wisconsin, Musk acknowledged that his involvement in politics has negatively impacted Tesla’s stock performance.
“It’s costing me a lot,” Musk remarked, emphasizing how political opposition has contributed to the decline in Tesla’s share value. Critics, he claimed, are leveraging the stock’s drop to pressure him into stepping back. Tesla’s stock price has plunged nearly 45% since its December 17 peak, wiping out billions from its valuation. Despite this, Musk remains optimistic, calling it a potential “buying opportunity” in the long run.
The billionaire entrepreneur appeared in Wisconsin ahead of a key state Supreme Court election on April 1. Though officially nonpartisan, the race has seen Republicans, including Trump, endorse Brad Schimel against Democrat-backed Susan Crawford. Reports indicate Musk has poured over $14 million into Schimel’s campaign.
On stage, he handed $1 million checks to two voters and detailed how volunteers could earn by canvassing for Schimel. The election could reshape the state’s highest court, where a liberal majority currently holds a slim edge. A shift in balance may impact rulings on abortion, redistricting, and even Tesla’s legal battle to expand its dealerships in Wisconsin.
Musk’s deep political involvement has sparked debates on corporate influence in elections.
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