r/politics • u/Quirkie The Netherlands • Mar 06 '25

Soft Paywall Elon Musk Suddenly Doesn’t Want Credit for Disastrous DOGE Cuts - Musk is warning Republicans to stop blaming DOGE for the cuts.

https://newrepublic.com/post/192415/elon-musk-warns-republicans-doge-job-cuts
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272

u/Fun-Marionberry4588 Mar 06 '25

He's feeling the pressure of the Tesla boycott and hate. Keep it up.

139

u/Alia814 Mar 06 '25

Keep tanking that Tesla stock!

110

u/user888666777 Mar 06 '25

Fun fact. Tesla stock is down 31% year to date. The majority of that value has been lost in just the past 30 days.

92

u/itsZizix Mar 06 '25

Still way overvalued.

2

u/geographies Mar 06 '25

"I hate the stock" - the people of the world

5

u/Excelius Mar 06 '25 edited Mar 06 '25

It's still up a bit relative to election day.

The stock almost doubled after the election, so most of the YTD drop has just been erasing that entirely unjustified surge in value.

And it was already massively overvalued before the election.

2

u/djbtech1978 Wisconsin Mar 07 '25

Down 54% since the week before the holidays

2

u/Ekg887 29d ago

Kylo Ren: MOAR!!!

13

u/No-Message9762 Mar 06 '25

short that shit

25

u/FairyKnightTristan Mar 06 '25

It's amazing to see.

9

u/dybber Mar 06 '25

Musk will soon be sued by major stock owners for not being there as CEO

6

u/LuLuCheng Mar 06 '25

Honestly, I would be shocked if the board doesn't sue him for not acting in the best interest of the stockholders. I wonder how many of them would have voted in favor of potentially gambling the entire goodwill of TESLA on the chance Musk was able to be Techno-God Emperor of Mars

2

u/redditrum Mar 06 '25

Isn't the board made up of his family and friends?

2

u/Successful-Peach-764 Mar 06 '25

Yeah, they were trying to give him 50 billion and it caused him to flee Delaware to Texas, they deserve it as much as him.

The first time around, judge Kathaleen McCormick of the Delaware court of chancery got it right. The $56bn pay package awarded by Tesla to Elon Musk in 2018 was indeed a governance abomination, a stitch-up in which ordinary shareholders weren’t told about the “deeply flawed” process whereby a “superstar ceo” secured wildly over-the-top terms from pliant directors.

Her closely argued ruling in January spelt it out in persuasive detail. The company had “inaccurately described key directors as independent and misleadingly omitted details about the process”. Ira Ehrenpreis, the lead director negotiating for Tesla, had a 15-year business relationship with Musk. Another member of the working group regularly went on holiday with Musk’s family. A third was the company’s general counsel and Musk’s former divorce lawyer. - src

2

u/crayonburrito Mar 07 '25

It’s not a boycott, it’s total abandonment. No one leaving is ever coming back to buy a car from them.