Minnesota Gov. Tim Walz (D) openly expressed satisfaction over Tesla’s declining stock value, using the company’s financial struggles to take a jab at its CEO, Elon Musk, during a Wisconsin town hall on Tuesday.
Tesla’s stock has plummeted more than 40% so far in 2025, and Walz admitted to tracking its decline for personal amusement, according to The Minnesota Star Tribune.
Speaking to a crowd in Wisconsin, Walz mocked Musk’s financial troubles and encouraged Tesla owners to remove the company’s logo from their vehicles.
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“Some of you know this, on the iPhone, they’ve got that little stock app. I added Tesla to it to give me a little boost during the day — $225 and dropping,” Walz quipped, drawing applause from the audience.
The governor then took a more direct swipe at Musk, stating, “I’m not a vindictive person or anything, but I take great pleasure in the fact that this guy’s life is going to get very, very difficult.”
Walz’s remarks come as Tesla remains a major U.S. employer, despite its recent struggles. The company employs nearly 47,000 workers in California and is the third-largest employer in Austin, Texas, with almost 23,000 employees.
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However, Tesla announced in April that it was cutting approximately 3,000 jobs across California and Texas, citing economic headwinds.
In addition to its workforce reductions, Tesla dealerships, and charging stations have been vandalized across the U.S. in recent months.
Many speculate that the backlash against Musk—who currently serves as White House Senior Advisor and head of the Department of Government Efficiency (DOGE)—has contributed to these incidents.
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