A version of this story appeared in the Nightcap Newsletter of CNN Business. To get it in your reception box, register for free here.
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All it took was to lose $ 100 billion in three months to change your air on government work.
Icymi: The last 24 hours have provided a humiliation parade for the richest Edgelord in the world, starting with its $ 20 million Betting on the pro-Trump candidate for the Supreme Court of Wisconsin. A few hours after the Wisconsin defeat, Tesla pointed out her The greatest drop in sales of all time,, decrease by 13% in the first quarter, while its Rival n ° 1 increased 60% income in the same period. Then came a Politico report Quoting Maga initiates who say that Musk has exceeded his welcome in Washington.
On Wednesday, the White House described the “waste” politico report, and Musk rejected it as “false news” in social media. But the administration confirmed that Musk should conclude its passage as Hatchet Man from Trump at the end of May or June, when its 130 days as “Special government employee“Fine tir. This has been sufficient to reverse a 6% drop in Tesla shares-a sign that investors are optimistic that Musk will abandon the shenanigans of cheese and focus on the market share of his business (and perhaps, perhaps, its long-term promises to revolutionize autonomous driving.).).
In short: voters, customers, investors and the elite Maga say that the Elon Musk show has lost the plot.
Musk lost more than A quarter of its total net value Since January, Tesla’s actions have landed. He’s staying The richest person in the world By a campaign mile with $ 323 billion – Jeff Bezos, the second floor, has even more than $ 100 billion.
Because Musk is both Tesla’s public face and its largest individual shareholder, when one suffers, the other in kind. Musk’s alliance with the far right has marked the brand of Tesla In the eyes of what was the base of the car manufacturer: the left-wing of the eco-consciousness in the coast.
We never knew how Musk planned to replace these customers with people from the red states who have long resisted the adoption of the EV. So far, various try to stem the bleeding only worsened things.
A live sale of Tesla with Trump on the Southern lawn despairs of despair. The request of the Secretary of Commerce of ordinary Americans to buy Tesla actions, similarly, fell flat. And the FBI threatening to continue the Vandals Tesla as domestic terrorists – a wild reimagination of the sense of “terrorism”, According to legal experts – has only reinforced the feeling of despair around the brand.
But the ultimate reprimand came from voters. Musk tried to use his almost infinite money to influence the Wisconsin race, and even presented himself in a giant cheese hat during a gathering in Green Bay, during which he distributed two $ 1 million checks to voters in a stuntman who faces an immediate legal challenge.
Her The effort turned against him, and the State Court has retained his liberal majority 4-3.
Conclusion: money can buy a lot, but not all things. And with the reduction in continuous sales of Tesla, Musk gets a severe reminder that he is not the only one who can handle a portfolio to send a message.