Musk hits out at Democrats as ‘party of hate’
Tesla chief criticises ‘phony social justice warriors’ after electric carmaker is kicked out of investing index
ELON MUSK has described the Democrats as “the party of division and hate” after “phony social justice warriors” ejected Tesla from an ethical investing index. Mr Musk said he previously viewed the Democrats as “the kindness party” and had voted for them. But he added: “They have become the party of division and hate, so I can no longer support them and will vote Republican.
“Now, watch their dirty tricks campaign against me unfold.”
It came as the S&P 500 slumped by 4pc, its sharpest fall since June 2020, amid fears for the US economy after retailer Target became the latest victim of surging prices.
The retailer trimmed its profit forecasts after warning of rising fuel and freight costs, prompting a 25pc tumble in its share price - the worst session since the Black Monday crash in October 1987. It followed a similar announcement by Walmart earlier this week.
Earlier yesterday, the credit agency S&P delisted Tesla from its environmental, social and governance (ESG) 500 index, blaming alleged racism at one of its factories and deaths linked to its Autopilot driver assistance tech.
Mr Musk hit back by tweeting that oil giant Exxon was “rated top 10 best in world for environment” on the same list from which Tesla has been removed. Exxon, one of the world’s biggest oil companies, was accused in 2015 of withholding information from investors on the financial risks of climate change and conspiring to manipulate the debate on greenhouse gases over 40 years.
Predicting that “political attacks on me will escalate dramatically in coming months”, the billionaire also posted an image saying ESG scores show “how compliant your business is with the Leftist agenda”. He added: “ESG is a scam. It has been weaponised by phony social justice warriors.”
The billionaire is in talks with Twitter about a $44bn (£36bn) takeover. He has criticised the social network’s stance on free speech and said he will reverse a ban on Donald Trump if successful.
Mr Musk has also criticised Netflix for having a “woke mind virus” because of its determination to discuss social issues in sci-fi and fantasy shows.
Margaret Dorn, of S&P, said: “While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider [environmental, social and governance] lens.”
The electric car manufacturer’s shares dipped almost 7pc on the news.
S&P accused Tesla of lacking a formal low-carbon strategy and said the firm was more exposed to risks from a future “controversial incident” when compared with similar companies.
S&P also cited alleged racial discrimination and “poor working conditions” at its factory in California. Tesla did not respond to a request for comment.