Elon Musk acknowledged that leading Trump’s government downsizing effort is costing him a lot, according to Bloomberg. The billionaire and Tesla CEO cited political backlash and pressure that he says have contributed to Tesla’s stock falling by nearly half. Speaking at a town hall in Wisconsin, Musk said his political opponents are using Tesla’s decline as ammunition, though he remains optimistic about the company’s long-term prospects. Musk donated over $14 million to support Republican-backed Brad Schimel in Wisconsin’s pivotal April 1 state supreme court race. The outcome could impact Tesla’s push to expand dealership access in the state.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Musk acknowledged that leading President Trump's government downsizing effort is costing him a lot,
00:07and according to Bloomberg, the billionaire and Tesla CEO cited political backlash
00:12and pressure that he says have contributed to Tesla's stock falling by nearly half.
00:16Speaking in a town hall in Wisconsin, Musk said his political opponents are using Tesla's decline
00:22as ammunition, though he remains optimistic about the company's long-term prospects.
00:27Musk personally donated over $14 million to support Republican-backed Brad Schimmel
00:32in Wisconsin's pivotal April 1st state Supreme Court race.
00:36The outcome could impact Tesla's push to expand dealership access in the state.
00:41For all things money, visit Benzinga.com slash GSTV.