Tesla dealership in Washington, D.C. Photo: Diego M. Radzinschi/ALMOn Tuesday, American Federation of Teachers (AFT) President Randi Weingarten told money managers to safeguard their retirement assets and “urgently review their current holdings” in struggling electric-car maker Tesla, in a letter to more than 75 state and city chief fiduciary officers who oversee most major U.S. public pension funds.
Given the steep plunge in Tesla shares this year due to extreme pushback from Tesla CEO
Elon Musk’s role as “special government employee” in the Trump administration’s DOGE unit – and the destruction of Tesla vehicles nationwide – Weingarten requests state treasurers and comptrollers ask asset managers to assess their Tesla holdings. “Consequently, Tesla’s sales numbers for Q1 2025 are shaping up to be abysmal, with multiple major markets reporting declines north of 40%,” she said.
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Lynn Cavanaugh
Lynn Varacalli Cavanaugh is Senior Editor, Retirement at BenefitsPRO. Prior, she was editor-in-chief of the What's New in Benefits & Compensation newsletter. She has worked for major firms in the employee benefits space, Vanguard and Willis Towers Watson, as well as top media companies, including Condé Nast and American Media.
