U.S. Secretary of Commerce Howard Rutnik appeared on a TV broadcast, praising Elon Musk, chief executive officer (CEO) of Tesla, and recommending purchasing Tesla stock, which has led to a conflict of interest controversy.
Minister Rutnik appeared on Fox News on the 19th (local time) and condemned actions attacking Tesla vehicles and others in opposition to Musk. He noted, “Musk is the best entrepreneur, best engineer, and best leader working for America.”
러트닉 장관은 지난 19일(현지시각) 폭스뉴스에 출연해 일각에서 머스크에 반발해 테슬라 차량 등을 공격하는 행위를 비난해했다. 그러면서 “머스크는 미국을 위해 일하는 최고의 기업가, 최고의 기술자, 최고의 리더”라고 했다.
He said, “If you want to learn something from this (news) show tonight, buy Tesla.” He emphasized, “I can’t believe this person’s (Musk’s) stock is this cheap. It won’t be this cheap again.”
He added, “Once people understand what he is making, the robots he is developing, the technology he is creating, they will look back today and think, ‘I should have bought Elon Musk’s stock.’” He said, “Elon Musk is probably the best person I’ve ever met worth betting on.”
U.S. media reported that as Musk and Tesla faced a crisis due to Musk’s Department of Government Efficiency (DOGE) activities, Secretary Rutnik joined in to help Tesla, following former President Donald Trump.
Earlier, President Trump showcased Tesla vehicles at the White House on the 11th and took a test drive and purchased them to save Tesla. Economic media CNBC pointed out on the 20th that while the president is exempt from federal conflict of interest rules, Rutnik's comments may violate those rules.
On the other hand, Wall Street is criticizing Musk for not fulfilling his role as Tesla CEO. According to MarketWatch, Dan Ives of Wedbush Securities, the most well-known Tesla bull on Wall Street, noted in a memo sent to investors that Tesla faced a crisis due to Musk diverting his attention to DOGE duties.
He stated that Musk should announce by the next quarterly earnings report that he will focus on not only DOGE but also on managing Tesla and should disclose detailed schedules regarding the rollout of low-cost electric vehicles and fully autonomous cars.