‘Elon Musk began the week of 10 March with a friendly sit-down interview on Fox Business to talk about his work with the so-called “department of government efficiency” (Doge) and the state of his businesses. Already, it had been a trying few days for the world’s richest man, who was facing a Tesla stock selloff and fierce backlash over his attempts to radically overhaul the federal government. His net worth declined over $22bn on Monday alone ...
The past 10 days have marked several of the most significant setbacks for Musk in months. Tesla, arguably his marquee company, continued to fall in value as investors worried about the threat of trade war and possible recession – as well as declining profits. Escalating protests against the company over the billionaire’s role in the government also grew in number and intensity across the US, coupled with rising cases of vandalism and social stigma against his cars. SpaceX has also struggled, with one of its rockets dramatically exploding in midflight last week and then an announcement on Wednesday that it was delaying a rescue mission to retrieve “stranded” astronauts.’
After a SpaceX rocket exploded, investors offloaded Tesla shares and Doge hit legal roadblocks, the world’s richest man saw his fortune sink by $100bn
www.theguardian.com
Musk is among the more reprehensible and obscene manifestations of the second Trump regime – an unelected robber baron in a make-believe ‘department’ engaged in a reckless, irresponsible, and unwarranted attack on lawful governance.