Gov. Tim Walz appeared to relish the declining stock price of Tesla, Inc. during a recent town hall event—held not in Minnesota, but in another state.
Speaking to a Wisconsin audience, Walz referenced Tesla’s stock price in real time.
“On the iPhone they’ve got that little stock app. I added Tesla to it to give me a little boost during the day. 225 and dropping!” he said, appearing pleased by the company’s declining market value on that day.
Tim Walz roots for Tesla to fail: pic.twitter.com/qA7b8wzR26
— Alpha News (@AlphaNewsMN) March 19, 2025
As of Dec. 31, 2024, the Minnesota State Board of Investment (SBI) had invested in Tesla through both its U.S. Stock Actively Managed Fund and U.S. Stock Index Fund. Alpha News called the SBI Wednesday and confirmed this information.
The SBI is chaired by Walz himself and includes fellow board members Secretary of State Steve Simon, Attorney General Keith Ellison, and State Auditor Julie Blaha.
As Gov. Walz gloats about Tesla stock dropping, records from the Minnesota State Board of Investment show that as of 6/30/24, the state of Minnesota had 1.6 million shares of Tesla in its retirement fund, and 211,000 shares of Tesla in its non-retirement fund. I've reached out to… https://t.co/W0EA0cPASS pic.twitter.com/r1obVBpfU7
— Bill Melugin (@BillMelugin_) March 19, 2025
According to its website, the SBI “serves the State of Minnesota by investing the assets of state and local employee benefit plans, other public retirement savings plans, tax advantaged savings plans, and non-retirement assets.”
Walz no fan of Musk, DOGE
Walz’s remarks come despite Tesla employing more than 120,000 workers in the U.S., including potentially hundreds of Minnesotans across multiple dealerships and service centers.
Tesla, led by CEO Elon Musk, seems to have a reserved spot on Walz’s proverbial dartboard, frequently drawing the governor’s ire.
“I’m not a vindictive person or anything but I take great pleasure in the fact that this guy’s life is going to get very, very difficult,” Walz said of Musk at the Wisconsin town hall, according to the Daily Caller.
Walz has been critical of Musk’s ongoing push to cut federal spending through his Department of Government Efficiency.
During a January appearance on MSNBC’s “The Rachel Maddow Show,” Walz claimed Musk performed a Nazi salute at President Donald Trump’s inauguration, saying, “Of course he did.”
Musk later threatened legal action against Walz over the remarks, which many deemed ironic given Walz’s penchant for flamboyant arm gestures on the campaign trail.
The left-leaning Anti-Defamation League even came to Musk’s defense, dismissing the CEO’s arm extension as an “awkward gesture” rather than a deliberate salute.
No record of Walz hosting Minnesota town hall
Adding to the strange mix of curiosities, Walz’s decision to hold a town hall outside of Minnesota is noteworthy given his lack of similar events within the state.
Alpha News has previously asked Walz’s office how many town halls he has held in Minnesota as governor, but received no response.
CHASER: “Walz aides were unable to identify any [town halls] he's hosted in Minnesota since becoming governor in 2019.” https://t.co/0zFJ1878Fc https://t.co/g1LlNYJtN7
— John Rouleau (@John_Rouleau) March 18, 2025
Axios reports that he has not held any in the state he governs during his time in the governor’s mansion.
“While he held them as a member of Congress, Walz aides were unable to identify any he’s hosted in Minnesota since becoming governor in 2019,” according to Axios.
White House, Musk respond
White House Press Secretary Karoline Leavitt was asked about Walz’s comments during a Wednesday press briefing.
White House Press Secretary Karoline Leavitt slams Gov. Walz's Tesla comments: 'Gov. Walz, unfortunately, is living a sad existence after his devastating defeat on Nov. 5.' pic.twitter.com/DNQVeJ0l41
— Alpha News (@AlphaNewsMN) March 19, 2025
“I think that’s quite sad,” she said. “But I think Gov. Walz, unfortunately, is living a sad existence after his devastating defeat on Nov. 5.”
Musk himself also responded to the governor’s comments, writing: “Sometimes when I need a little boost, I look at the JD Vance portrait in the White House and thank the Lord.”
Sometimes when I need a little boost, I look at the @JDVance portrait in the @WhiteHouse and thank the Lord 🙏 https://t.co/etwL4KocIx
— Elon Musk (@elonmusk) March 19, 2025
Jenna Gloeb
Jenna Gloeb is an Edward R. Murrow Award-winning journalist, media producer, public speaker, and screenwriter. Most recently, she worked as a reporter and on-air host for CCX Media. Jenna is a Minnesota native and resides in the Twin Cities with her husband, son, daughter, and two dogs.
