Elon Musk is not one to let controversy pass by, and nor has he ever been, his latest claims have again placed Elon Musk at the center of a political and business storm. Billionaire philanthropist George Soros, LinkedIn co-founder Reid Hoffman and hedge fund billionaire Herbert Sandler have been serving as behind-the-scenes funders of protests against Tesla, according to Musk. He claims these protests are a coordinated attack on the electric vehicle giant. The accusations have set off a debate in wide circles between critics who dismiss Musk’s claims and supporters who claim that political motives are now behind attacking Tesla.
Elon Musk’s Accusations: A Coordinated Attack?
Musk claimed he was being protested against by activist groups backed by ActBlue, one of the biggest Democratic fundraising platforms. He claims that the demonstrations were orchestrated by five other organizations including Troublemakers, the Disruption Project, Rise & Resist, Indivisible Project, and the Democratic Socialists of America. These protests have been taking place in over 50 Tesla sites in the U.S. with slogans such as ‘We need clean air, not another billionaire,’ ‘Elon Musk has got to go.’
The Tesla Backlash: Political or Consumer-Driven?
Tesla has taken an increasing amount of flak in the last few months, over criticizing activist groups and also from former customers. Yet, once seen as a status symbol among those environmentally aware buyers, Tesla vehicles have lost favor with some of the folks on the left.
As a result, a backlash has been spawned to the point that Tesla’s trade-in rates have spiked, sales are plummeting and the company’s stock value has tumbled. According to reports, Tesla stock is down 38% since Trump’s inauguration and cost Musk billions. Vandalism against Tesla vehicles is also on the rise and Tesla Cybertrucks have been egged, scratched, and even had dog feces smeared on them. In multiple locations, arson attacks have been made on Tesla charging stations..
This feeds further concerns of an orchestrated attack in the form of the ‘Tesla Takedown’ movement. This is a grassroots initiative where people are asked to boycott Tesla, sell their Tesla stock or protest outside the dealerships of Tesla. Reports of demonstrations have been made not only in the US but in cities across Europe – such as London, Barcelona, and Lisbon, among others.
ActBlue Under Scrutiny: A Political Conspiracy?
ActBlue itself has been facing legal and ethical challenges at the same time as Musk’s accusations. However, the platform that has been a key part of Democratic fundraising since its inception in 2004 is being probed for whether it helped to accept foreign donations. Other reports show that the platform has also accepted several shady contributions paid through prepaid credit cards, fuelling such speculation that foreign entities were involved in American political funding.
Is It Musk Versus a Victim or a Victim of His Own Worst Enemy?
He has infuriated many in the market with a growingly polarizing and spasmodic political stance, coupled with erratic behavior and a lack of fulfillment of campaign promises. They insist that Tesla losing its stock, a harsh and unjust public attack aimed at Musk, is more a war caused by Musk himself than an outside conspiracy.
At the same time, Musk’s defenders argue he’s being picked on for his political views and what others describe as the tremendous influence he wields. They say powerful individuals like Soros and Hoffman have an interest in diminishing Musk’s power as she continues to disrupt industries outside electric vehicles such as space exploration, artificial intelligence, and social media.
