this post was submitted on 07 Jul 2025
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Tesla loses $68 billion in value after Elon Musk says he is launching a political party (www.cnbc.com)
submitted 3 days ago* (last edited 3 days ago) by babysandpiper@sopuli.xyz to c/economics@lemmy.world
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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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[–] Archangel1313@lemmy.ca 5 points 3 days ago

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