As the Tesla Takedown protests continue to grow globally, the organizers behind the movement have shown no signs of backing down, despite mounting pressure from President Trump. The protests, aimed at hurting Tesla’s CEO Elon Musk financially, have gained significant traction, with calls to bankrupt the tech billionaire and bring down his empire.
Musk’s political activities, his role in the Trump administration, and his controversial stance on various social issues have ignited protests, some peaceful and others more destructive, such as vandalism and arson. These protests, combined with the broader political unrest, have significantly impacted Tesla’s stock price, with the company experiencing a dramatic decline in value.
Edward Niedermeyer, one of the early coordinators of the Tesla Takedown movement, spoke openly about the movement’s goals and its financial impact on Musk. “The goal, I would say, is to bankrupt Elon Musk—bring down his empire,” Niedermeyer explained.
The movement’s actions have already made a significant dent in Musk’s personal wealth, with his net worth dropping by approximately $175 billion from his December peak of $486 billion, according to Bloomberg’s billionaire index. While Musk remains the richest person in the world, his fortunes have taken a hit, and Tesla is paying the price for his actions outside of the company.
The ultimate aim of the movement is to exert enough financial pressure on Musk to force a political change, even if the goal of bankrupting him is not fully realized. Niedermeyer explained, “If we don’t bankrupt him, but we exert enough financial pressure to materially change a political situation, that’s fine, too.”
The protests have been particularly targeted at Tesla’s stock price, which has fallen due to a combination of factors, including criticism of Musk’s leadership and political involvement.
For many individuals like McKinney, who sold his Tesla in February in protest, the decision to part with the car was both political and moral. “It was a political decision but also a moral decision,” McKinney said.
“I see the damage that [DOGE] is doing to the fabric of our society.” He was unaware of the broader Tesla Takedown movement at the time but found comfort in knowing that others shared his sentiments.
The movement began as a grassroots effort, and McKinney’s personal decision to part with his Tesla car in favor of another electric vehicle reflects a larger trend of disillusionment with Musk and his influence on the political landscape.
As protests continued to grow, they began to target more than just Tesla’s products. Some protests turned violent, with incidents of vandalism, arson, and attacks on Tesla vehicles, showrooms, and charging stations.
The Tesla Takedown movement, although initially a peaceful protest, soon escalated as frustrations grew over Musk’s perceived political affiliations and his involvement in controversial policies. As protests spread across Europe and the United States, they brought attention to Musk’s role in the Trump administration, particularly through his leadership of DOGE, the cost-cutting initiative that has garnered criticism for its impact on government programs.
One of the primary motivations behind the protests is a deep-seated frustration with Musk’s political involvement and his association with the Trump administration. Many of the protestors see Musk’s actions as being part of a broader political agenda that harms vulnerable populations, particularly those who rely on government programs.
The focus on Musk’s personal wealth and the financial pressure on Tesla is a means of targeting the billionaire in a way that holds him accountable for his political actions.
Niedermeyer and other protest leaders have been vocal about their concerns regarding Musk’s influence. Niedermeyer described the protests as a response to “outrage about the political situation and the lack of other outlets” for people to express their dissatisfaction.
He believes that targeting Musk’s wealth is the most effective way to bring attention to the issues they care about, including the need for greater transparency and accountability in corporate leadership.
Musk’s response to the protests has been mixed. On one hand, he has tried to reassure Tesla investors by holding an all-hands meeting, encouraging them to hold onto their stock despite the ongoing protests and the significant stock price decline.
On the other hand, he has faced significant backlash for his political involvement and controversial actions. Tesla’s market share in Europe has plummeted, with vehicle registrations in key markets like France and Germany dropping dramatically.
In Germany, Tesla’s car sales dropped 76% in February compared to the same month the previous year, signaling a significant loss of confidence in the brand.
Despite these challenges, Musk continues to defend his leadership, emphasizing Tesla’s long-term vision and the future potential of the company. At the all-hands meeting, he reassured employees that the company’s innovations, including autonomous vehicles and robotaxis, would eventually lead to a brighter future.
However, the financial strain caused by the protests and the decline in stock price cannot be ignored, and Tesla’s success may ultimately hinge on how Musk responds to the growing pressure from both investors and protestors.
The Tesla Takedown protests have drawn attention not just to Musk’s business practices but also to his political affiliations. Musk has come under fire for his close ties to the Trump administration, particularly his role in DOGE, which has been accused of causing significant harm to government programs.
Protestors, like McKinney, view Musk’s political influence as part of a broader agenda that undermines social safety nets and exacerbates inequality.
President Trump, in turn, has publicly defended Musk and criticized the protests, which have included vandalism and attacks on Tesla property. Trump has threatened to label these actions as domestic terrorism, but protest leaders like Niedermeyer have dismissed these claims, arguing that the movement has remained largely peaceful.
Niedermeyer stressed that while he disapproves of the violence associated with the movement, the goal is to highlight the political and economic impact of Musk’s actions, not to engage in acts of terror.
Valerie Costa, another key figure in the protest movement, expressed concerns about the potential for the protests to be mischaracterized. She argued that the Tesla protests have always been peaceful and First Amendment-protected, but there has been a conflation of peaceful protests with the vandalism carried out by a small group of individuals.
Costa also revealed that she had been targeted by Musk on social media, with the billionaire accusing her organization of being backed by ActBlue, a Democratic fundraising platform. Costa has since received a barrage of threatening messages, and her life has been significantly affected by the harassment.
As protests continue and Tesla’s stock price declines, investor sentiment has become increasingly negative. Some of Tesla’s most ardent supporters, like Wedbush analyst Dan Ives, have begun to question Musk’s leadership, with Ives warning that patience is running thin among investors.
Even long-time Tesla investors like Ross Gerber have called for Musk to step down as CEO, citing concerns that Musk’s political focus is harming the company.
For McKinney, removing Musk from the CEO role is not enough. He believes that as long as Musk is involved with Tesla, the company’s brand will be irreparably damaged.
“I wouldn’t buy another Tesla as long as Musk is associated with it, whether he’s the CEO or even a partial owner,” McKinney said, expressing his disillusionment with the company and its leadership.
McKinney’s sentiments reflect a broader frustration with Musk’s influence, and many investors fear that the damage to Tesla’s brand may be irreversible. As Musk’s political involvement continues to affect the company’s financial performance, the question remains whether Tesla can recover from the mounting pressure and restore its reputation in the marketplace.
The Tesla Takedown protests are a clear indication of the growing dissatisfaction with Elon Musk’s leadership, political activities, and influence on both Tesla and the broader political landscape. While the movement has faced criticism for its methods, including the violence associated with some protests, its goals remain clear: to exert financial pressure on Musk and to hold him accountable for his actions.
As Tesla’s stock continues to decline and investor sentiment turns negative, Musk’s ability to steer the company through these challenges will be put to the test. Whether or not the Tesla Takedown movement succeeds in its aims, one thing is certain: the battle for Tesla’s future is far from over.