Musk provokes public anger! Protests erupt in multiple locations in the United States, calling for "Tesla, Inc. (TSLA.US) to be taken offline."
03/03/2025
GMT Eight
Last Saturday, protesters gathered at Tesla, Inc. showrooms across the United States to protest CEO Elon Musk's role as head of the Department of Government Efficiency (DOGE) in cutting government positions.
The protest is part of the "Take Tesla, Inc. off the shelves" movement, which encourages stakeholders to "sell your Tesla, Inc., sell your stock, join the picket line".
Musk, the world's richest man with a net worth of over $300 billion, is leading unprecedented measures to reduce the size of the federal government under the Trump administration. The SpaceX CEO has promised to cut the federal annual budget by $1 to $2 trillion by 2026.
Since Trump took office on January 20th, DOGE has swiftly taken action in the federal government, cutting tens of thousands of federal jobs, gutting certain departments, and terminating hundreds of aid contracts.
These layoffs have caused chaos in some federal agencies, with some forced to rehire key employees who were laid off. Since Trump began his second term, around 100,000 federal employees have agreed to buyouts or have been laid off.
Last week, data showed a 45% drop in Tesla, Inc. sales in Europe in January, causing the company's market value to fall below $1 trillion.
According to a post by the action group Rise and Resist on X, several protesters were arrested outside a Tesla, Inc. dealership on Saturday.
Actor Alex Winter wrote, "Separating Musk from Tesla, Inc. would be a significant blow to this administration and its privileges, as it would be a blow to what they value mostmoney and power."
Much of Musk's status as the world's richest man is attributed to the stock price of Tesla, Inc. He owns 13% of the shares of the world's most valuable car manufacturer, which is nearly 4.11 billion shares.