Former DOGE adviser sends letter to Tesla Board, says: Meet Elon Musk immediately and ask him to clarify his ...
James Fishback
seems very upset with Tesla CEO Elon Musk's decision to start a new political party. Last week,
made the announcement a day after polling his followers on the social media platform Twitter, declaring, "Today the
America Party
is formed to give you back your freedom."
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Slamming Musk's plans to create political party, Fishback has sent an open letter to Tesla Board. The letter urges
Tesla board
members to ask Elon Musk to clarify his political ambitions. "I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO," Fishback wrote.
Fishback added that the announcement undermines the confidence shareholders had in Tesla's future after Musk said in May he was stepping back from his role leading the Department of Government Efficiency (DOGE).
He added that his investment firm
Azoria Partners
will defer the listing of its Azoria Texla Convexity exchange-traded fund due to Musk's announcement. Azoria was set to launch the Tesla ETF, which would invest in the electric vehicle company's shares and options, next week.
James Fishback letter to Tesla Board slamming Elon Musk
Elon has gone too far.
My investment firm (@InvestAzoria) has decided to postpone next week's public listing of our Azoria Tesla Convexity ETF.
Our decision comes in direct response to @ElonMusk's announcement that he is launching a new national political party.
This creates a conflict with his full-time responsibilities as CEO of Tesla. It diverts his focus and energy away from Tesla's employees and shareholders.
Azoria believes that Tesla is the most compelling long-term investment in AI. With breakthroughs in robotaxis, Optimus, and full self-driving, no other company is positioned to lead the future like Tesla.
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In May, when Elon stepped back from his work at DOGE and returned his attention to Tesla, we were encouraged. With Elon fully engaged, he gave shareholders renewed confidence in Tesla's future.
Elon's announcement today undermines that confidence.
Unlike his work with SpaceX or xAI, which complement Tesla's R&D efforts in AI, automation, and engineering, a political party not only fails to complement Tesla's mission—it actively undermines it.
I just sent the attached letter to Robyn Denholm, Chair of Tesla's Board of Directors.
I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO.
I remain hopeful that Elon will return his full attention to Tesla. If not, I trust the Board will take appropriate action.
US Treasury Secretary Scott Bessent wants Elon Musk to worry about his companies, not politics
US Treasury Secretary Scott Bessent said that the Tesla and SpaceX boss focus on business and not politics.
When asked by CNN if Elon Musk's plan bothered the Donald Trump administration, Bessent offered a thinly veiled criticism. "I believe that the boards of directors at his various companies wanted him to come back and run those companies, which he is better at than anyone," Bessent said.
"So I imagine that those board of directors did not like this announcement yesterday and will be encouraging him to focus on his business activities, not his political activities."
Bessent went on to add that the principles of the so-called Department of Government Efficiency, which Musk ran for several months as part of Trump's drive to slash government spending and jobs, were "very popular."
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