Tim Walz Cheers Tesla Stock Tumble, Despite Minnesota Pension Holding Over 1M Shares
Sarah Johnson
March 22, 2025
Brief
Minnesota Governor Tim Walz jokes about Tesla's falling stock, drawing criticism as the state's pension fund holds 1.6 million shares. Political reactions and financial stakes collide.
While Tesla’s stock has been experiencing a rough ride in the market, Minnesota Governor Tim Walz didn’t shy away from taking a jab at the company and its CEO, Elon Musk. Speaking at a Wisconsin town hall this week, Walz joked that he tracks Tesla’s stock price on his phone to give himself a boost during the day. "$225 and dropping," he quipped, drawing cheers from the audience.
Adding a sprinkle of humor, Walz suggested that Tesla owners could remove the logo from their cars with dental floss. Bold move, Governor. But here's the kicker: Tesla’s stock tumble might be hurting more than just Musk’s ego—it’s also hitting the wallets of Minnesotans hard. According to a June 2024 report from the Minnesota State Board of Investment, the state pension fund holds a whopping 1.6 million shares of Tesla stock.
With Tesla stock down 41.4% year-to-date as of March, thanks to vehicle vandalism and backlash against Musk’s political stances, that’s no small dent. The irony of Walz’s mockery, given the financial stake his own constituents have in Tesla, wasn’t lost on investor Kevin O’Leary, who called the governor's comments "beyond stupid" on CNN. O’Leary didn’t hold back, saying, "That poor guy didn’t check his portfolio—or his own pension plan for the state." Ouch.
Meanwhile, former President Donald Trump jumped into the fray, calling crimes against Tesla "acts of terrorism" and promising serious investigations. His Rapid Response team even managed to slip in some shade, posting a social media dig at Walz alongside portraits of Trump and Vice President JD Vance. Classic Trump theatrics.
Walz, who has been touring Republican-leaning districts and holding town halls, has yet to respond to the backlash. His office declined Fox News Digital’s request for comment. But let’s be real—mocking a company that your state’s pension fund is heavily invested in isn’t exactly going to win the "Governor of the Year" award. Maybe next time, someone on his team will suggest checking the portfolio before cracking the jokes.
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Editor's Comments
Tim Walz's quip about Tesla stock is a classic case of shooting from the hip without checking the fine print. It's like throwing shade at your own wallet—awkward and self-defeating. Also, let’s not ignore the irony of a politician mocking a company while their state pension fund is heavily tied to its success. People love a good joke, but maybe not when their retirement is on the line. A little more forethought could’ve gone a long way here.
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