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Mohit Oberoi

Why Backing Trump is a Bigger Risk for Tesla Stock than for Elon Musk

Elon Musk Donald Trump Tesla Inc. United States General Motors XAI

Tesla (TSLA) CEO Elon Musk has endorsed Republican nominee Donald Trump for the 2024 U.S. Presidential elections. The widely held view is that Musk – who heads the biggest and most valuable electric vehicle (EV) company on the planet – could hamper Tesla’s fortunes by unabashedly aligning himself with Trump, whose views on climate change and EVs are in stark contrast to his own.

Trump is a climate change denier, and pulled the U.S. out of the Paris Climate Agreement during his first presidency. Incidentally, Musk - who was part of Trump’s economic advisory council until then - quit his position, as it apparently became untenable for him to back the move. Trump now appears open to giving Musk an advisory or cabinet position if he is re-elected - something that the world's richest person has hinted he will accept.

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One subscription that gives you access to news from hundreds of sites

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