Economics

921 readers

41 users here now

founded 2 years ago

432

Tesla loses $68 billion in value after Elon Musk says he is launching a political party (www.cnbc.com)

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

61 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] towerful@programming.dev 61 points 1 month ago* (last edited 1 month ago) (1 children)

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 month ago (1 children)

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 month ago* (last edited 1 month 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.