Elon Musk, chief executive officer (CEO) of Tesla, announced the formation of a new party, prompting investment firm Azoria Partners to decide to postpone the launch of an exchange-traded fund (ETF) investing in Tesla stocks and options.
According to the financial investment industry on the 6th, James Fishback, CEO of Azoria, stated through the social media platform X that he decided to postpone the launch of the 'Azoria Tesla Convexity ETF' that they were preparing. CEO Fishback noted that the reason for the postponement was "due to Musk's announcement of forming a new national party."
CEO Fishback also disclosed a letter sent to the board of directors of Tesla. He said, "Musk's announcement of forming a party has undermined trust," adding, "Political activities will not supplement Tesla's research and development efforts in AI and automation, but rather actively hinder them."
CEO Fishback continued, saying, "The board should immediately convene a meeting to request that CEO Musk clarify his political ambitions and assess whether he can fulfill his role as Tesla's CEO." He expressed hope that "CEO Musk will dedicate himself to Tesla, and if not, I believe the board will take appropriate measures."
CEO Musk, who had been in conflict with U.S. President Donald Trump, declared on the 5th (local time) that he would establish the 'America Party.' He stated, "I am forming the America Party to give you back your freedom."
During last year's presidential election period, CEO Musk actively supported President Trump and became one of his closest allies. However, there was a deepening conflict due to disagreements over the 'One Big Beautiful Bill Act (OBBBA),' which encapsulated Trump's key policies.