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submitted 1 year ago* (last edited 1 year ago) by babysandpiper@sopuli.xyz to c/economics@lemmy.world

KEY POINTS

Elon Musk said he would form a new political party called the “America Party.”

Tesla shares fell Monday after Musk’s announcement.

Tesla shareholders have wanted Musk to stay away from politics, especially after his stint at the so-called Department of Government Efficiency, which many have said damaged the automaker’s brand.

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[-] towerful@programming.dev 61 points 1 year ago* (last edited 1 year ago)

CEO loses investors $68 billion after $56 billion pay rise

I wish I could survive my company losing money

[-] Swedneck@discuss.tchncs.de 14 points 1 year ago

i truly do not understand how shareholders think, why the fuck would you keep tesla stocks at this point? sell them and invest in that chinese electric moped company for fuck's sake, infinitely more reliable

[-] Azhad@lemmy.world 4 points 1 year ago* (last edited 1 year ago)

It's very simple: his votes, plus his family votes and the fact that shares held in index and funds vote always like the boards direct and they have the vast majority and every "voting" is just a farce.

[-] Cenotaph@mander.xyz 57 points 1 year ago

Still up 16% since this time last year. More crash please.

[-] Archangel1313@lemmy.ca 39 points 1 year ago

They should be seriously considering firing this fuck, by now. Everything he's done for the last couple of years has cost his investors money.

[-] athairmor@lemmy.world 31 points 1 year ago

I’m happy to see the company go up in flames. Anyone still holding positions in TSLA deserves whatever happens.

[-] homesweethomeMrL@lemmy.world 14 points 1 year ago

Hahahaha - have you seen “the board”? It’s several bought-and-paid-for dipshits and members of his family. He’ll make a good decision before they oust him.

Not happening. Never (unless it’s part of a scam, then yeah sure why not. Gotta fleece the stooges).

[-] Archangel1313@lemmy.ca 7 points 1 year ago

Then it sounds like it would be a slam-dunk to prove in court, that the board is no longer honoring its fiduciary duties to its investors.

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[-] magnetosphere@fedia.io 3 points 1 year ago

I just want him to shut up and go away. Being fired would just give him more attention, and something else to whine about.

[-] Archangel1313@lemmy.ca 5 points 1 year ago

It would also greatly diminish his financial holdings...which would knee-cap his ability to actively fuck with society.

Won't happen. His board are all sycophants.

[-] Archangel1313@lemmy.ca 5 points 1 year ago

Then Tesla's investors should organize a class action suit against the board, for acting against their best interests.

[-] henfredemars@infosec.pub 33 points 1 year ago

Still massively overvalued.

[-] Honytawk@feddit.nl 20 points 1 year ago

Funny how the "America Party" wasn't created by an American.

Hitler wasn't German, Stalin wasn't Russian.

[-] brucethemoose@lemmy.world 17 points 1 year ago* (last edited 1 year ago)

It coincides with a bunch of other stuff, like hints at Tesla regulation, tariffs, and regular wild swings just from being Tesla.

Tesla is up 16% over 1 year, 185.44% over 5 years, beating the S&P 500. Not that I would ever hold Tesla, but still, it's not like Musk's wealth has evaporated.

CNBC is basically the Fox News of finance world. Big, sensationalist and basically catering to day trader hype (not the longer term buy-and-hold crowd. You know, what the stock market is supposed to be). So maybe there's some cause and affect here, but I don't trust them on headlines like this.

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[-] Strider@lemmy.world 15 points 1 year ago

Please announce creating more parties.

📉⬇️ STONKS

Love to see it

[-] iAvicenna@lemmy.world 11 points 1 year ago* (last edited 1 year ago)

7D chess, my mind can't follow.

[-] Trihilis@ani.social 7 points 1 year ago

I thought we were at 256D chess now.

[-] DragonTypeWyvern@midwest.social 5 points 1 year ago

"Why you'd pick such a random number?"- genius coder Musk

[-] iAvicenna@lemmy.world 4 points 1 year ago

"I know for a fact that no coder would use such a number" - probably Elon Musk

[-] ArmchairAce1944@discuss.online 10 points 1 year ago

Can we skip to the good part where is 100% bankrupt and no other billionaire bails him out and he ends up being arrested by a rookie cop doing his first drug arrest as Elon nearly ODs on illegal street ketamine and literally no one in the legal system cares when he is given a life sentence?

[-] captain_aggravated@sh.itjust.works 3 points 1 year ago* (last edited 1 year ago)

I'd settle for "dies a 90 hour non-instrument rated private pilot flying the Beech Debonair he just bought VFR into IMC by slamming into a hillside trying to fly under a 300 foot ceiling."

But he wouldn't pass a 3rd class medical certificate, would he?

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[-] some_guy@lemmy.sdf.org 8 points 1 year ago
[-] LadyButterfly@reddthat.com 6 points 1 year ago

Yep! Made me smile

[-] Wazowski@lemmy.world 8 points 1 year ago
[-] RememberTheApollo_@lemmy.world 8 points 1 year ago

The ~~America~~ Elon Musk Oligarchy Party.

[-] expatriado@lemmy.world 6 points 1 year ago

will elon maco like the taco?

[-] Tollana1234567@lemmy.today 5 points 1 year ago

it was damaged before doge was created.

[-] NatakuNox@lemmy.world 4 points 1 year ago
[-] GreenKnight23@lemmy.world 4 points 1 year ago
[-] SpaceNoodle@lemmy.world 4 points 1 year ago

Literal and figurative car crashes! Woo!

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this post was submitted on 07 Jul 2025
432 points (99.1% liked)

Economics

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