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Yahoo
5 days ago
- Automotive
- Yahoo
‘Shut up, Dan' — Elon Musk snaps at Tesla bull Dan Ives after he demands board take action against the CEO
When the Wedbush Securities tech analyst lobbied Tesla's board to erect guardrails against Elon Musk spending too much time with his political activism, the CEO's response was immediate and dismissive. The Tesla bull, who believes the $300 stock should be worth twice its price, had previously urged directors to act: 'We believe this is a tipping point in the Tesla story.' If 'card-carrying Tesla bull' was a term in the dictionary, a picture of Dan Ives would be next to it. The Wedbush Securities tech analyst never wavers in his conviction the company is the most undervalued AI play in the market. In his view, the share ought to trade closer to $620 with Tesla deserving of a $2 trillion market cap—slightly more than double what its currently worth. Nor does Ives tire of explaining that Tesla's single most important asset driving this projected growth over the next 12 to 18 months is its transformative CEO, Elon Musk. So when he called on the company's board to adopt a carrot-and-stick approach to ensure the entrepreneur invests his limited time in the company rather than in politics, Musk's response was immediate. 'Shut up, Dan,' the entrepreneur fired back on Tuesday, dismissing Ive's notion favouring a special board oversight committee. On Monday, Tesla closed at $293 a share, its lowest since Musk fell out with President Donald Trump over the latter's tax cut and spending bill in early June. The company did not respond to a request from Fortune for comment. Musk's public castigation of Ives came amid growing concerns Tesla's CEO will again prioritize activism over business now that he aims to form a third party capable of disrupting the Republican-Democrat duopoly on Capitol Hill. His newfound endeavors come at a sensitive time: Tesla has yet to face investors this year, nor has it set a date or agenda for its shareholder meeting. Given the advanced notice needed and the ongoing summer break, it might once again be September before an AGM will be convened. Top on the agenda would likely be a new pay package for a CEO who is goading the White House with continued attacks against Trump. But Ives plan to create a special oversight committee and link pay to guardrails around his political activism also met with criticism from other Musk supporters. They argue you a CEO like Musk does not clock in like a worker drone. 'Some people want the Tesla board to micromanage his hours and police his outside activity. This would be a terrible mistake,' wrote Dave Lee, a Tesla stock influencer with over half a million followers on Musk's X platform. 'You don't babysit Elon'. Dubbed 'Tesla's biggest cheerleader on Wall Street' by EV motoring site Electrek, Ives often acts as a conduit between his clients in the investment community and the company. The Wedbush analyst combines the occasional stern word with positive reinforcement, rewarding the CEO with effusive praise whenever he reacts to external pressure. When Musk flew back to Tesla to rally his demoralized troops at an emergency all-hands meeting before returning to Washington, Ives praised the display. 'Leaders lead in times of trouble and crisis…and last night Elon Musk took a major and much needed step forward,' he wrote. 'We applaud Musk for 'reading the room' and showing important hand holding at this key time for employees and investors.' But this week Ives conveyed his clients' growing frustration over the distraction posed by a potential America Party, calling for the board to form a special oversight committee—even though a core part of any board's job is providing oversight. 'We believe this is a tipping point in the Tesla story,' Ives said on Tuesday. 'We urge the board to act now.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Recorder
6 days ago
- Business
- Business Recorder
Disrupting the two-party system: Can Elon Musk spark a US political reboot like Imran Khan did in Pakistan?
The dispute between Republican President Donald Trump and his main campaign financier Elon Musk took a fractious turn this weekend with the announcement of the 'America Party' - looking to upend the long-reigning two-party system in the United States, not quite unlike what Pakistan's Tehreek-e-Insaf (PTI) did in 2018. The announcement is already stirring anxieties within America's entrenched political class, where Musk, with his growing influence and vast capital could upset the Republican-Democrat duopoly, which has reigned for 160 years. What Musk is proposing isn't entirely new. Third-party bids in the US have historically fizzled due to structural constraints like ballot access, the Electoral College, and winner-take-all voting. But what's different now is the context: rising polarization, a generation of disillusioned voters and a growing appetite for disruption. Trump's approval ratings in polls in his second term have generally held firm above 40%, despite often divisive policies, the US dollar dropped to its lowest valuation in a decade and the fiscal deficit is set to climb to $2.5 trillion. Who is Zohran Mamdani, New York's presumed next mayor? To understand the potential of such a political moment, analysts are increasingly looking abroad – to Pakistan, where a two-party order collapsed in 2018 under the weight of youth frustration and populist momentum. PTI's disruption and the youth vote For decades, Pakistan's politics revolved around two dominant forces: the Pakistan Peoples Party (PPP) and the Pakistan Muslim League-Nawaz (PML-N). This duopoly, characterized by dynastic leadership and rotating tenures in power, left many voters - particularly the young and those in urban city centres - disillusioned. Enter Pakistan Tehreek-e-Insaf (PTI), led by former cricket captain Imran Khan. Founded in 1996, the party remained on the fringes for over a decade before gaining traction through a combination of populist messaging, anti-corruption rhetoric and savvy digital campaigning. By the 2018 general elections, the landscape had changed. Pakistan's youth, which makes up over 64% of the population, played a decisive role. According to the Election Commission of Pakistan, 45% of voters aged 18–35 participated, with PTI capturing a dominant share of that demographic –particularly in urban centres like Lahore, Karachi, Islamabad, and Peshawar. 'PTI's message resonated with young voters who were tired of family politics and business-as-usual governance,' said analyst Ayesha Siddiqua. 'It was a party that spoke their language - literally and digitally.' PTI's campaign leaned heavily on platforms like Facebook, Twitter, and Instagram, broadcasting rallies live and bypassing traditional media gatekeepers. A parallel movement in the US Back in the US, the political landscape appears similarly fatigued. Gallup polling in 2025 shows that over 42% of Americans now identify as independents, while just 27% identify as Democrats and 26% as Republicans. Among voters under 35, support for a third-party or independent alternative is rising sharply. It's in this environment that figures like Elon Musk, Bernie Sanders, and Zohran Mamdani are gaining attention - albeit from vastly different parts of the ideological spectrum. While Sanders, a democratic socialist, has mounted two powerful challenges to the Democratic establishment, his influence has reshaped the party's internal debates. Mamdani, the progressive New York lawmaker recently nominated as the Democratic candidate for mayor, represents a growing class of insurgent politicians willing to openly criticize party orthodoxy. 'People are increasingly rejecting the binary,' Mamdani said during his nomination speech earlier this year. 'They want a politics that reflects reality - not party lines.' Observers note that while Sanders and Mamdani are working within the Democratic Party, their popularity reveals how far removed the establishment has become from younger, more diverse, and more economically anxious voters. In contrast, Elon Musk's ambitions remain ambiguous. He has previously endorsed both Republican and Democratic candidates, often on contradictory grounds. But his ability to command attention, resources, and followers - he has over 180 million followers on X - gives him a unique base of political leverage. A global shift? From Pakistan to the U.S., from France's Emmanuel Macron to Italy's Five Star Movement, the last decade has shown that political duopolies are not as unshakable as they once seemed. Youth-driven movements - often organized online and outside traditional party structures - have reshaped political possibilities across the globe. But the obstacles in the U.S. remain formidable. Third-party candidates face significant ballot restrictions in key states. The Electoral College system inherently favours the two main parties. And media coverage often dismisses outsiders as spoilers. Still, Musk's timing may be strategic. The 2024 and 2028 US elections exposed deep voter dissatisfaction with both major parties, and rising digital activism has created new tools for political organization - much like PTI's use of WhatsApp groups and YouTube in the 2018 election. While such efforts have historically fizzled, the mood is different now. A generation disillusioned with establishment politics, a fractured media ecosystem, and growing polarization have opened up new space for outsiders.
Business Insider
6 days ago
- Politics
- Business Insider
Trump responds to the South African-born billionaire's bid to disrupt America's political structure
Elon Musk officially announced the formation of his political party, the "America Party," on July 5, 2025, with a post on his X account, following his ongoing feud with the American president, Donald Trump. Elon Musk officially announced the creation of the 'America Party' on July 5, 2025, via his social media platform. The announcement follows a public fallout between Musk and U.S. President Donald Trump over recent policy disagreements. Musk criticized the Republican-Democrat political framework, aiming to target disillusioned moderate voters with his party. The initiative follows a controversial feud between Musk and President Donald Trump. A significant political squabble some months back erupted between once-close buddies, Elon Musk and US President Donald Trump. The schism became apparent in May, when Trump signed the contentious "Big, Beautiful Bill," a massive tax-and-spending plan Musk denounced as fiscally unwise. Since then, both men have been at each other's throats, taking jabs in what is now believed to be one of the most high-profile feuds in the political space. The latest of such developments is Elon's announcement of the formation of a new political party. A July 4 survey on X, which found that 80% of the more than 5 million respondents favored the formation of a new party, helped to promote Musk's verbal launch. "By a factor of 2 to 1, you want a new political party and you shall have it! When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom," Elon stated in a later tweet. The party, referred to as the America Party, has garnered attention from the media and spectators alike, with Trump even addressing the new development. Elon Musk has also made it clear that another point of creating his own party is to do away with what he described as the 'Republican/Democrat Uniparty.' In order to swing the legislative balance, he suggested concentrating initially on 2–3 Senate seats and 8–10 House districts, emphasizing the need to target moderate voters, those who are disenchanted with both Republicans and Democrats. In response, Trump referred to Elon's party as 'ridiculous' and warned that such third-party ventures would only sow 'chaos.' 'I am saddened to watch Elon Musk go completely 'off the rails,' essentially becoming a TRAIN WRECK over the past five weeks,' Trump posted on the social media platform 'TRUTH', as seen on the NY Times. 'The one thing Third Parties are good for is the creation of Complete and Total DISRUPTION & CHAOS, and we have enough of that with the Radical Left Democrats.' For now, it is unclear if the party has legally registered with US electoral authorities. Musk, who was born in South Africa and thus unable to run for president, has not announced who will head it. Up until recently, Musk was one of Trump's loudest supporters. The South African-born billionaire was a major financial supporter of Trump, having contributed $250 million (£187 million) to his presidential comeback. Following the election, Musk was given the position of head of the Department of Government Efficiency (Doge), whose job it was to reduce federal budget expenses. When he publicly criticized Trump's tax and spending bill after leaving the administration in May, his relationship with Trump started to deteriorate. Musk criticized Trump's "Big, Beautiful Bill" as fiscally foolish and harmful to the economy. In furious posts, Musk attacked GOP leaders who support the proposal as enablers of a "PORKY PIG PARTY". He also dropped a bombshell in a tweet where he accused the U.S president of being in the in the Epstein files, a wide collection of documents, court records, and evidence related to Jeffrey Epstein, the late financier and convicted sex offender who was accused of running a vast sex trafficking ring involving underage girls and powerful individuals. In response, Trump noted that he was 'very disappointed' by Musk's comments at an Oval Office appearance with German Chancellor Friedrich Merz, as per The Independent. 'Elon knew the inner workings of this bill better than almost anybody sitting here,' Trump told reporters. 'Elon and I had a great relationship. I don't know if we will anymore.' Donald Trump also recently spoke of the idea of Elon Musk heading back to South Africa in the absence of subsides. ' Elon may get more subsidies than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa, ' Trump wrote, in what is being interpreted as both a personal jab and a political signal.
Time of India
06-07-2025
- Politics
- Time of India
Evening news wrap: SC seeks ex-CJI Chandrachud's removal from official residence; UK team in Kerala to repair stranded F-35B jet, and more
The Supreme Court has written to the Centre seeking the removal of former Chief Justice DY Chandrachud from his official residence in New Delhi, saying his occupation of the bungalow goes "beyond the permitted period". UK technicians arrived in India to repair the British F-35 fighter jet, which is currently parked at Kannur airport amid high security. The jet made an emergency landing in Kerala on June 14. Elon Musk has launched a new political outfit called the 'America Party' to challenge the traditional Republican-Democrat structure. Musk cited Greek military history to explain his approach to breaking the 'Uniparty' system. Here are the top five stories of the evening: Supreme Court seeks ex-CJI Chandrachud's removal from official residence The Supreme Court has written to the Union housing ministry requesting the removal of ex-CJI DY Chandrachud from his bungalow in Lutyens' Delhi. The court said his stay exceeds the legally allowed occupancy period. Read full story British F-35 fighter jet stranded in Kerala since mid-June, repairs underway A UK-origin F-35B Lightning fighter jet has been stuck at Kannur International Airport since June 14 due to a technical snag. A team of engineers from the UK reached Kerala recently to conduct repairs. The aircraft is under round-the-clock CISF surveillance. Read full story Pune rape case: Police say woman fabricated story and evidence Pune Police Commissioner Amitesh Kumar said the woman who filed a rape complaint against an alleged stranger actually knew the man. She edited the selfie presented as evidence and typed the threatening message herself, police claim, citing forensic analysis. Read full story Elon Musk launches 'America Party', targets US 'Uniparty' politics Elon Musk has unveiled the 'America Party' as an alternative to what he calls the 'Uniparty'—a term he uses for Democrats and Republicans. Quoting Greek general Epaminondas, Musk said his strategy will avoid direct confrontation and aim for systemic disruption. Read full story Dalai Lama's reincarnation not his call, says China; India stays neutral Marking the Dalai Lama's 89th birthday, Chinese authorities claimed again that Beijing alone will decide on his reincarnation. India has avoided commenting, with officials maintaining a position of neutrality on the sensitive religious and geopolitical matter. Read full story
Hindustan Times
06-07-2025
- Politics
- Hindustan Times
Musk likens America Party to ‘Epaminondas' in Sparta scenario; reveals when his party will contest
Elon Musk, soon after launching his America Party on Saturday, announced that his party will contest in the 2026 mid-terms. The Tesla CEO further revealed the ideology behind his party's formation using the Epaminondas vs Spartans scenario. This comes amid the billionaire's feud with President Donald Trump over the One Big Beautiful Bill Act. Elon Musk on Saturday announced that he has formed the America Party(AFP) 'The way we're going to crack the uniparty system is by using a variant of how Epaminondas shattered the myth of Spartan invincibility at Leuctra: Extremely concentrated force at a precise location on the battlefield,' Musk noted on X, platform formerly known as Twitter. An X user asked Musk when he plans to contest elections. 'Next year,' the tech billionaire responded. Read More: America Party launched: Is Musk running for president in 2028? Who's funding? Any other leaders? 'The future strategy should certainly evolve, but it is worth noting that Thebes did actually dominate Greece for a decade following Leuctra,' Elon Musk further stated. Epaminondas defeated Sparta by using an unorthodox oblique order tactic at Leuctra, concentrating forces to break the stronger Spartan right wing. In this case, Musk framed the Republican-Democrat uni-party as Sparta, a dominant but flawed system, and his party as Thebes, a smaller force aiming to disrupt the political establishment. The 54-year-old's plan likely avoids a broad national challenge, focusing on 6–8 House seats and 4 Senate seats in competitive 2026 midterms, particularly in swing districts, to influence Congress. When will Musk's America Party contest elections? Musk confirmed the American Party will begin contesting elections in the 2026 midterm cycle, targeting November 2026 for House and Senate races. 'We'll start small, contesting key seats in 2026 to flip the balance, not 2028,' he said. Earlier in the day, Musk announced that the America Party is formed. "By a factor of 2 to 1, you want a new political party and you shall have it!" he said in a post on X. "Today, the America Party is formed to give you back your freedom." The announcement from Musk comes after President Donald Trump signed a tax-cut and spending bill into law on Friday, which the billionaire chief executive officer of Tesla fiercely opposed. Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government. Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill. (With inputs from Reuters)
