The U.S. Treasury Secretary under the Trump administration has advised Elon Musk to focus on his businesses rather than political matters. Scott Bennett emphasized that Musk would be better off returning to his business ventures, stating: «I believe the boards of various companies would like him to return where he excels beyond anyone else.» He continued by suggesting that these boards likely did not appreciate Musk’s recent political announcements and would encourage him to concentrate on entrepreneurial rather than political activities.
Bennett also noted that while the principles promoted by Musk’s Government Efficiency Committee (and his Doge-related initiatives) were popular, public opinion polls do not reflect strong support for Musk himself. A key ally and financial supporter of Donald Trump, Musk recently clashed with him over a major spending bill that the billionaire claims will lead the U.S. toward bankruptcy. Musk even threatened to form a political party if the bill passed — a threat he turned into action yesterday by announcing the creation of the America PAC.
Dan Ives, an analyst at Wedbush, commented: «By diving deeper into politics, Musk is doing exactly the opposite of what Tesla investors want during this crucial period in the company’s history.» Although Musk’s core supporters remain loyal, there is growing investor fatigue tied to his political pursuits. The initial relief following his departure from Doge didn’t last long, and the situation took a turn for the worse after his latest announcement. Tesla shares fell 0.85% in after-hours trading on the New York Stock Exchange.