Tim ‘Bozo’ Walz Celebration of Tesla Stock Drop Gets Even Worse [WATCH]

Minnesota Governor Tim Walz (D) is facing criticism after publicly expressing satisfaction over a drop in Tesla’s stock price, despite the fact that his state’s retirement funds hold significant investments in the electric vehicle manufacturer.

Speaking to a crowd on Tuesday, Walz said he checks Tesla’s stock performance regularly and admitted that watching it fall gives him “a little boost during the day.”

Sometimes when I need a little boost, I look at the @JDVance portrait in the @WhiteHouse and thank the Lord https://t.co/etwL4KocIx

— Elon Musk (@elonmusk) March 19, 2025

Elon Musk Called This Financial News ‘Terrifying’

Tesla’s stock has declined by more than 50% since December, raising concerns for states, including Minnesota, that hold millions of shares through public investment funds.

According to the latest report from the Minnesota State Board of Investments, released in June 2024, the state’s retirement fund held 1.6 million shares of Tesla.

An additional 211,000 shares were held in the state’s non-retirement fund.

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Critics argue that Walz’s comments are out of step with the financial interests of Minnesotans who rely on those funds for their retirement.

Venture capitalist and Shark Tank investor Kevin O’Leary weighed in during a CNN panel, stating that Walz’s remarks showed a lack of awareness about the financial well-being of his own constituents.

“That poor guy didn’t check his portfolio and his own pension plan for the state. It’s beyond stupid what he did,” O’Leary said.

“What’s the matter with that guy? He doesn’t check the well-being of his own constituents.”

Kevin O’Leary blasts “Bozo” Tim Walz over rooting for Tesla stock to crash — while his state’s pension plan owns it:

“That poor guy didn’t check his portfolio and his own pension plan for his state. It’s beyond stupid what he did.”

“I mean, what’s the matter with that guy? He… pic.twitter.com/WPvT2OCTUX

— Western Lensman (@WesternLensman) March 20, 2025

While Tesla’s volatility has long been a topic of discussion among investors, recent attention has turned toward the broader financial impact that such fluctuations may have on state pension funds and retirement savings.

In Illinois, State Treasurer Michael Frerichs acknowledged the risks posed by Tesla’s declining stock price, telling ABC News, “This is a real cost to real people. We’re talking about firefighters, police officers, nurses who work in public. Their retirement dollars are at stake.”

New York lawmakers have also expressed concern. Last week, 23 Democratic state senators sent a letter to State Comptroller Thomas DiNapoli urging the state to begin divesting from Tesla.

The New York State pension fund holds 3.5 million shares of the company.

“New York’s pension fund is one of the best-managed in the nation, and we must ensure that it remains financially sound for the more than one million retirees and beneficiaries who depend on it,” said Democratic state Senator Patricia Fahy in a press release.

“Given Tesla’s ongoing volatility and significant profit decline, we should seriously evaluate the risks of continued investment and its impact on the pension fund’s stability. Beginning to responsibly divest from Tesla is a prudent step.”

Minnesota has not announced any plans to adjust its Tesla holdings.

Nationally, some of the largest retirement fund managers also face exposure. Vanguard Group is Tesla’s second-largest shareholder behind CEO Elon Musk, holding more than 240 million shares. Its Target Retirement Funds, used by over 15 million Americans, are heavily invested in the tech and auto sectors.

BlackRock, which manages $11.6 trillion in assets — over half of which is in retirement-related products — owns more than 200 million shares of Tesla.

Governor Walz, who reentered the national spotlight following his role as former Vice President Kamala Harris’s running mate in the 2024 election, has recently been making high-profile appearances and has not ruled out a future presidential bid in 2028.

His comments about Tesla have added new scrutiny to his economic messaging as attention on public fund stability continues to grow.

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