Over the weekend, Elon Musk announced the birth of a new political party, the America Party. The announcement has generated some backlash as Azoria is halting the launch of Tesla ETF.
The rivalry between President Donald Trump (R) and Elon Musk intensified in recent weeks with President Trump insinuating that efforts would be made to deport Musk. In contrast, Musk countered by threatening to create a new political party that, according to him, would better represent the American people.
In response to the new political party, James Fishback, the founder and CEO of the investment firm Azoria, announced that the firm will postpone the public listing of its highly anticipated Azoria Tesla Convexity ETF, citing concerns over Musk’s political party.
“Elon has gone too far,” Fishback declared in a post on X. He argued that the move “creates a conflict with his full-time responsibilities as CEO of Tesla” and “diverts his focus and energy away from Tesla’s employees and shareholders.”
Fishback’s firm had previously expressed bullish confidence in Tesla’s long-term leadership in AI and automation.
“Azoria believes that Tesla is the most compelling long-term investment in AI,” he wrote, citing developments in robotaxis, Optimus, and full self-driving. “No other company is positioned to lead the future like Tesla.”
However, that confidence has now dwindled with Musk’s latest political impression.
Fishback emphasized that while Musk’s ventures like SpaceX and xAI are synergistic with Tesla’s mission, a political party “not only fails to complement Tesla’s mission – it actively undermines it.”
He also revealed that he sent a formal letter to Tesla Board Chair Robyn Denholm, urging immediate action. “I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO.”
Fishback concluded on a cautiously optimistic note, writing that he remains “hopeful that Elon will return his full attention to Tesla. If not, I trust the Board will take appropriate action.”
A recent Quantum Insight poll showed that Americans are considering political alternatives with growing polarization, declining optimism, and eroding faith in traditional institutions.
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