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‘A clear case of wacktivism’: Elon Musk lashes out at ‘scam’ S&P 500 ESG Index

May 19, 2022 | | Print Article

Tesla CEO Elon Musk appears to be mocking a decision by a so-called sustainability index to drop his innovative electric car company from its listings.

Taking it a step further, Musk described the compilation of supposed environmentally friendly companies as “a scam” that is “weaponized by phony social justice warriors.”

The quirky and visionary tech entrepreneur, who is in the middle of a purchase of Twitter in the name of free speech and often finds the time to keep up with his mentions on the platform, agreed with an investment advisor and economist that the outcome is “ridiculous.”

The decision serves as another example of what he described as “wacktivism.”

“What I love most about wacktivists is their incredible sense of humor,” Musk added as part of an early morning thread in a tweet to his nearly 94 million followers.

Forget the guy on the iconic Dos Equis commercials: Musk may, in real life, be the most interesting man in the world. He is apparently the richest.

Tesla, said to be the world’s largest electric car manufacturer, was apparently removed from the S&P 500 ESG Index several weeks ago in a “rebalancing” of the listings, but the move is just coming to light. ESG stands for environmental, social, and governance standards.

In a blog post, the index provided its reasoning for disqualifying Tesla, in part, over factors such as “two separate events centered around claims of racial discrimination and poor working conditions at Tesla’s Fremont factory, as well as its handling of the [National Highway Traffic Safety Administration] investigation after multiple deaths and injuries were linked to its autopilot vehicles. Both of these events had a negative impact on the company’s S&P DJI ESG Score at the criteria level, and subsequently its overall score.”

In what sounds like something perhaps along the lines of what have you done for me lately, the post added that “While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens.”

The index also suggested that flaws exist in the company’s “low carbon strategy” and its business conduct.

The index noted that Tesla could be reinstated in future years after further review.

In October 2021, Tesla was previously ordered to pay $137 million in damages to a former black employee who sued for alleged racial discrimination.

Ever since announcing the $44 billion Twitter takeover bid, which is on hold over an examination of bot accounts, and a potential acquisition which outraged the left-wing, pro-censorship cohort, Musk and his business operations have also come under scrutiny from various regulatory agencies. Whether the legal system is also being weaponized against him is a matter of speculation.

Earlier this month, Musk expressed the opinion that Twitter has “a strong left-wing bias.”

“Tesla remains on the regular S&P 500 index, which measures the largest companies in the US by market capitalization….The de-listing is the latest blow to Tesla. The company’s stock has fallen by nearly 29 percent in the past month, after Musk announced plans to buy Twitter,” the Daily Mail reported.

Musk, a political independent, has announced that he is voting Republican for the first time.

“In the past I voted Democrat, because they were (mostly) the kindness party. But they have become the party of division & hate, so I can no longer support them and will vote Republican. Now, watch their dirty tricks campaign against me unfold,” he predicted. In April, he accused the Democrat Party of being hijacked by extremists.

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Robert Jonathan
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One thought on “‘A clear case of wacktivism’: Elon Musk lashes out at ‘scam’ S&P 500 ESG Index”

  1. Well, I disagree with him. The dem. party has never been the kindness party. However they were the party of gullible stupidity at one time. Its the party of Meatheads. Archy B. had it right.

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