Financial Leaders Alarmed by Economic Consequences of Protests Against Tesla

FIRST ON FOX: More than two dozen financial officials from across the United States have raised serious concerns in a letter to Attorney General Pam Bondi regarding the substantial economic fallout from recent violent protests targeting Tesla dealerships. These demonstrations have been labeled as ‘domestic terrorism’ and have reportedly resulted in significant financial losses impacting millions of Americans.

In their letter, the group explains that the protests, driven by radical political sentiments, jeopardize the financial security of public servants who strive to enhance societal well-being. Furthermore, they highlight the adverse effects on long-term financial growth for state pension systems and other treasury investments.

Financial Implications of Protest Violence

The letter, jointly signed by 26 state financial officers, emphasizes the major financial implications of these violent protests. Many state investment funds, including public pensions that safeguard the retirement savings of teachers, police officers, and first responders, have substantial stakes in Tesla. As of December 31, 2024, Tesla employed over 125,000 individuals and held a market valuation of approximately $1.3 trillion, with shares trading above $400 each.

However, since the onset of these protests in late January 2025, Tesla’s stock value has sharply declined. The financial leaders deem it unacceptable that public servants and the beneficiaries of state treasury funds face collateral damage as a result of escalating political hostility.

Events Escalate Amidst Protests

The protests, initially sparked by dissent towards Elon Musk and his Department of Government Efficiency, have devolved into alarming acts of violence. Incidents include gunfire directed at buildings, vandalized dealership windows, and burning charging stations. The increasing violence has prompted the FBI to intervene by forming a specialized task force to address crimes related to Tesla.

The Justice Department has also announced charges against individuals involved in arson linked to these protests. Attorney General Pam Bondi has referred to these attacks as ‘domestic terrorism,’ amplifying the urgency surrounding the situation.

A Call for Accountability

The letter commends the swift actions taken by the federal administration, including the proactive response from the FBI. The signatories assert their duty to expose radical factions that resort to violence as a means of political and economic influence.

Stacy Garrity, the Pennsylvania Treasurer, emphasized the severity of the situation, condemning the attacks against Tesla vehicles. According to Garrity, these acts of violence pose significant threats to public safety and inflict considerable financial harm—not only on Tesla owners but also on countless Americans whose pension funds are tied to the company’s success.

Risk to Retirement Savings

As financial officials continue to voice their concerns, they outline the risks posed to the retirement savings of essential public employees, such as teachers and first responders. The letter expresses gratitude to the Justice Department for its decisive action against those responsible for the violence and calls for bipartisan condemnation of these acts as domestic terrorism aimed at instilling fear and undermining societal stability.

Despite the alarming rise in violence against Tesla dealerships, some prominent Democrats have been noticeably reticent in denouncing these acts. This silence has raised eyebrows, particularly given that these politicians have previously addressed the issue of domestic terrorism.

Continued Escalation of Anti-Tesla Sentiment

The protests and violence show no signs of abating, with figures like Elon Musk and various Republican leaders increasingly linking the unrest to far-left groups and agendas. Musk himself has criticized the motive behind the protests, suggesting that they stem from a broader political agenda rather than legitimate grievances.

O.J. Oleka, CEO of the State Financial Officers Foundation, stated that the anti-Tesla violence is not just dangerous and unacceptable but also fundamentally wrong. He contends that the individuals perpetuating these attacks are failing to recognize the serious repercussions of their actions, which threaten public safety and the financial security of ordinary Americans.

Consequences of Political Violence

The financial officers, through their collective stance, have made it clear that they will advocate for all necessary measures to safeguard the well-being of citizens, their properties, and their financial futures. The distressing reality is that no teacher, police officer, or first responder should have to witness their retirement savings diminish due to hate-fueled acts of violence or the misguided encouragement of politically motivated leaders.

The issues raised in this letter underscore the urgent need for dialogue and action surrounding such violent occurrences. It is critical for all sectors of society, including lawmakers and community leaders, to confront these profound challenges head-on. Addressing the root causes of these protests and exploring constructive solutions may be essential for steering clear of further economic and social repercussions.

Fox News Digital’s Sarah Rumpf-Whitten contributed to this report.