Some brands only strengthen their position over time. Others, especially those associated with Elon Musk, are rapidly losing trust. In today’s environment, even a company name can become a problem faster than you can say “rebranding”.
Experts suggest that Musk’s personal views, his actions, and his ties to former President Trump are negatively impacting business. However, the automaker is not the only organization suffering from its association with the South African billionaire.
An American entrepreneur, who was once so fascinated by Musk that he named his firm after him, now feels ashamed of this connection. Steve Riabov, who moved to the US from Ukraine in the 2010s, founded a construction company in the San Francisco Bay Area using his professional skills and hard work.
“The name MUSK Construction comes from MU — Multiple and SK — Skills Construction,” Riabov explained in a 2022 post. “The inspiration was Elon Musk, whose ideas initially aligned with mine.”
However, the situation has changed, and the businessman now seeks to rid himself of any association with Musk. He reported a drop in sales and clients refusing deals due to fears of being linked to the controversial billionaire. One customer canceled a bathroom renovation after watching an old video where Riabov expressed support for the Tesla CEO.
The 35-year-old entrepreneur’s decision was influenced not only by economic factors but also by personal disappointment in Musk’s actions, particularly his support for Donald Trump’s policies and Vice President Vance’s attacks on Volodymyr Zelenskyy at the White House.
“I can’t stand it anymore,” stated Riabov. “His values no longer match mine. I will have to change the name.”
Estimates suggest the renaming process to Rise Construction, along with updating documentation, will cost $15-20 thousand. The businessman has already removed the old branding from his red Tesla and replaced the “MUSK INC” and “MUSK UP” license plates.