Tesla’s fourth-quarter earnings report is expected to reveal how Elon Musk’s involvement in politics affects the company’s growth. The billionaire’s high-profile advisory role in Washington, D.C., and endorsement of far-right candidates have raised concerns among investors about his focus on the company.
Investors have sent over 100 queries asking about Musk’s time allocation between Tesla and his political engagements. One investor asked how much time Musk dedicates to growing the company versus engaging with Trump and other politicians. Musk has been involved in various political activities, including contributing $270 million to Republican candidates and causes, and endorsing the AfD party.
Tesla’s brand value fell by 26% last year, partly attributed to Musk’s behavior. A recent incident where Musk made a hand gesture viewed as a Nazi salute sparked controversy, with some shareholders calling for him to apologize. Musk denied the criticism, but later engaged in Nazi-themed word play on social media, prompting the Anti-Defamation League to rebuke him.
Despite the concerns, Tesla is not obligated to discuss these topics during the earnings call. However, investors are seeking answers on how the company plans to address the negative impacts of Musk’s public views and activities. The fourth-quarter earnings report is expected to include updates on production and delivery numbers, as well as energy storage deployments.
Source: https://www.ndtv.com/world-news/elon-musks-fitness-to-lead-tesla-questioned-amid-nazi-salute-controversy-7590121