Hopefully Elon Musk has a strong mental health core, because he got beaten up from both sides of a controversial issue, while staying as neutral as humanly possible.
Always popular with the left due to his efforts to save the planet, Musk suffered an enormous credibility hit when he agreed to form part of the recently elected President Trump’s advisory council. But the market absolutely loved the move and Musk’s share of Tesla stock has gained a mind-boggling $2 billion since then.
Yet, Tesla shares are down a bit in trading today primarily due to the panic of analysts who are saying that Musk has denounced Trump’s new immigration ban and parted ways with the President. Nothing could be further from the truth.
Musk issued a statement saying:
“The blanket entry ban on citizens from certain primarily Muslim countries is not the best way to address the country’s challenges.”
Far from parting company with Trump, social media came at him in droves for such a tepid response, particularly compared to people like Sergey Brin and Brian Chesky. AirBnB CEO Chesky offered free shelter to those impacted by the ban, urging those with urgent shelter needs to contact him directly.
Russian born Google co-founder Brin went to SFO to stand with protestors, saying “I am here because I am a refugee.” Google then created a $2 million dollar fund to assist victims of the ban.
After much criticism, Musk then requested his followers to tell him how they think the Executive Order should be worded, and promised to bring it up to the President at their next meeting on Friday.
His followers, however, were mostly unimpressed.
Musk, after all, is an immigrant in the United States himself. He came to this country from South Africa, via Canada. In any case, Musk clearly stated that he plans to meet with the President on Friday, and offered no other response to the executive order. So perhaps analysts should just get a grip.