Go on Tesla CEO Elon Musk On Wednesday on Twitter, where he announced his political transition from Democrat to Republican, he criticized standards of sustainability and governance.
Meanwhile, Tesla’s shares have fallen to their lowest level this year, wiping out $12.3 billion from Musk’s fortune in a single session.
Musk is still the world’s richest person with a fortune of $209.9 billion, according to the Bloomberg Billionaires Index, although his fortune has fallen by more than $60 billion this year, roughly a quarter, trailing only Binance founder Changpeng Zhao, who lost $81 billion, and Amazon founder Jeff Bezos, who lost $62 billion, equal to a third of his fortune, this year.
After Tesla lost its spot on the S&P Global Index, which tracks companies by their ESG standards, Musk tweeted, “ESG was a scam,” and predicted that “political attacks” on it would “dramatically escalate in the coming months.”
In a separate tweet, Musk said he backed the Democrats in the past because they “were a kinder party,” but has now changed his mind.
Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list!
ESG is a scam. It has been weaponized by phony social justice warriors.
— Elon Musk (@elonmusk) May 18, 2022
“They have become the party of division and hate, so I can no longer support them and I will vote Republican,” he said.