Swing Province in Pennsylvania decided that it will not buy the new Tesla shares, citing the activities of the CEO of Elon Musk and the company’s hanging stocks.
Lahay County, which is located in the east of Pennsylvania with a group of relatively wealthy population The retirement council, which oversees $ 500 million in assets. This is the first well -known US pension fund to purchase new Tesla shares.
“The choice of Elon Musk to become a political figure instead of a leader -focused leader has led to the exposure of the brand Tesla,” said Mark Bensley, the Lihay County Observer, who first submitted the suggestion of stopping Tesla investments, in a joint statement with the Takla ski organizations.
“Tesla’s profits decreased by 71 % from last year, and their car’s revenues decreased by 20 %, and profitability has taken a sharp diving,” Bensley added. “We owe our retirees and taxpayers to take a closer look at whether these are wise investments at this time.”
On Tuesday, the Board of Directors not only voted to strike the brakes on the new Tesla investments in Resolution 4-2, and the investment manager in the province also directed a report that defines options to strip its managed money negatively from Tesla.
The Observer Observer Office in Lehay and Tesla did not respond immediately for the comments requests.
Pinsley and the retirement council in Lehigh County are not the only ones concerned with pensions invested in Tesla.
In March, a group of 51 legislators in New York State invited the state to withdraw a billion dollars in Tesla Holdings. A great competitor in the Comptroller race in New York City pledged to withdraw the $ 300 billion pension pension portfolio from Tesla if elected.
Brad Lander, the current New York City Observer, was also frank about his dissatisfaction Musk drivingBut he did not stop calling for withdrawing investments in the last response to his bi office in April. The five public pension systems in the city held more than 3 million Tesla shares worth about $ 1.26 billion on December 31, 2024, yet this number decreased to $ 831 million by March 28, according to the financial observer office.
In April, eight of the state treasury in the state formulated a joint letter to the Board of Directors of Tesla to express its concern about Musk’s lack of focus on Tesla, and the American Federation of Teachers is pressing the main asset managers – including Blackrock and Vanguard – to consider investments.
In addition to the American border, the largest pension fund in the Netherlands unloaded its $ 600 million share in Tesla in January. The $ 20 billion pension fund was followed by Akademikerpence, which followed in March. Recently, the largest union in the public sector in Canada has urged national pension funds to reduce relations with Tesla, although the disposal of investments has not yet happened.
Tesla faces increasing pressure on Musk’s governance of the company and its political activity.
The removal movement in Tesla, which appeared in protest against the involvement of musk in the White House office, aims to develop beyond the demonstrations. The next goal of the movement is Helping cities and countries to develop decisions to strip “all musk things”, according to a statement on April 22, after Tesla reported their profits.
As of May 6, the Tesla shares have decreased by more than 27 % since the beginning of 2025, and the revenues of the first quarter have lost their expectations. Musk announced during the last call call that it will retract his political activities in the White House.
Previously, BI marketing experts have been told that Tesla has strengthened its basic customer base, and that the brand redesign efforts may require great concessions from Musk.
David J. Residence, Professor of Marketing at the Warton School, “to some extent I can say musk,” I do not care because I am so rich and I have many other entities that I can lose a lot of money. “But for other shareholders who save the company, this is a problem.”
