The day after Elon Musk announced that he had established a new US political party, this step triggered resistance from Trump’s administration officials, and investors were afraid of his focus on Tesla.
Finance Minister Scott Bessnt said CNN that Musk would probably focus on their business responsibilities rather than a third -party campaign.
“I imagine that these Boards did not like this announcement yesterday and encouraged him to focus on his business activities, not his political activities,” Bessnt said.
He also questioned Muska’s personal popularity with voters.
“The principles of Duge (Ministry of Government Efficiency) were very popular. I think if you looked at election questions, Elon wasn’t.”
Muska’s division with Trump over taxes and expenses
Musk said on Saturday that he is Establishment Stand against what he called a “big, beautiful account”, a tax and expenditure package signed by President Trump on Friday (July 4).
Legislation reduces taxes and increases defense and border security. While the Republicans have described it as a growth engine, critics say it will balloon a federal deficit.
Trump publicly accused Muska of retaliation because the law eliminates the credits of the green energy, of which they benefited the Tesla electric vehicle.
Backlash Investor: ETF with delayed
Muska’s announcement spewed the investment world.
The Azoria Partners, an investment company that plans to start the Fund for the Tesla Convex Stock Exchange, said it would postpone the fund because Muska’s political ambitions were contrary to its role as the CEO.
Azoria CEO James Fishback shared his frustration on x“I call on the Board of Directors to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full -time obligations against Tesla as CEO.”
Fishback doubled on Sunday: “Elon left us without another choice.”
Musk plans to target Republicans on Wednesday
Musk said the US side would focus on its efforts on non -violating Republicans in Congress who supported the Tax Act next year in the middle of the elections.
Although Musk, as a citizen of an American citizen who was born abroad, is forbidden to run for the president, it remains legally allowed to finance third -party candidates and helps them to access the national level.
(Tagstotranslate) American side
