Elon Musk's America Party Plans 'Conflict' With His Full-Time Responsibilities As Tesla CEO, Says Former DOGE Advisor
Former DOGE advisor and Tesla Inc. (NASDAQ:TSLA) investor James Fishback says that Elon Musk's decision to found a political party undermines investor confidence in the EV giant.
What Happened: "My investment firm has decided to postpone next week’s public listing of our Azoria Tesla Convexity ETF," Fishback said in a post on social media platform X on Sunday.
The investor says that Musk's decision to found a political party creates a "conflict with his full-time responsibilities as CEO of Tesla." He also said that the endeavor takes Musk's focus away from Tesla's employees as well as the investors.
He hailed the EV giant as the "most compelling investment" in AI with Optimus humanoid robots, Full Self-Driving and Robotaxi. He also said Musk's decision to leave DOGE and focus back on Tesla "renewed shareholder 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," Fishback said.
He also shared a picture of a letter he wrote to the Chair of Tesla's Board of Directors, Robyn Denholm, encouraging a meeting of the board members in regards to Musk's obligations to Tesla.
Why It Matters: The comments come in as Musk's decision has invited criticism from U.S. President Donald Trump, who called the America Party a "train wreck" in a post on Truth Social, which Trump owns.
Musk has also been criticized by experts like Wedbush Securities' analyst Dan Ives, who said Musk's decision was a "move in the opposite direction" for Tesla. Tesla's stock also fell over 5% during overnight trading following the row.
However, amidst this, Musk has rubbished reports of an official filing with the Federal Election Commission under the name America First, with Tesla CFO Vaibhav Taneja identified as the Treasurer.
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Posted-In: America Party Department Of Government Efficiency Donald Trump electric vehicles Elon Musk EVs James FishbackTech
