Elon Musk is facing severe consequences as Tesla’s stock price plunged over 15% on Monday, losing more than $800 billion in value since its peak in December 2024. While broader market conditions contributed to the decline, Musk’s controversial political actions and statements have exacerbated the company’s troubles. His focus on far-right rhetoric and conspiracy theories has overshadowed Tesla’s once-promising brand image.
On social media, Musk mixed posts defending Tesla with political attacks and false claims. He shared videos of Tesla vehicles, but also amplified inflammatory content, including conspiracy theories about Tesla’s critics. Over the weekend, Musk posted about incidents of vandalism and arson at Tesla dealerships, claiming they were politically motivated, despite a lack of evidence to support such accusations.
The Tesla Takedown movement, which has organized global protests and boycotts against the company, has gained significant traction. Protestors are voicing their anger over Musk’s far-right political involvement and his ongoing spread of misinformation. The campaign is calling on investors to divest and has been staging demonstrations at Tesla centers around the world, further damaging the brand’s image.
Musk responded by making unfounded accusations, claiming wealthy liberals, including Reid Hoffman and George Soros, were funding the protests through the Democratic platform ActBlue. Despite a lack of proof, Musk continued to attack those he blamed for Tesla’s current troubles, even dragging deceased individuals into the narrative, which only further inflamed the situation.
Despite Musk’s efforts to rally support by promoting pro-Tesla content and fan accounts, the stock continued to suffer, with the company losing an additional $23 billion in value in just one day. As Musk’s erratic behavior and polarizing political stance continue to dominate headlines, Tesla’s future looks increasingly uncertain, with many wondering whether the company’s electric vehicle innovations will be enough to recover from the damage caused by its CEO’s controversial actions.
