by
Post Views: 1
Investigation Demanded Following Trump’s Commerce Minister’s Call to Buy Tesla Shares on Fox News
Commerce Minister Howard Lutnick advises the public to buy Tesla shares during an interview.
Lutnick’s ties with Tesla and his position have raised questions from Congressman Connolly.
Calls for Musk’s resignation as Tesla’s CEO continue to gain momentum daily.
Tesla shares have fallen by about 35%, protests against the company are brewing, and the show’s showrooms and electric vehicle manufacturer’s products have also come under fire. Meanwhile, as questions arise over Elon Musk’s suitability as the company’s CEO, a political battle is attempting to settle the situation in the shadows.
Now a U.S. representative from Virginia is openly demanding an investigation into how “tax funds are used to enrich the president’s inner circle,” as Representative Gerry Connolly claims there’s an ethics violation at play.
Buy, Buy, Buy?
The statement in question was made earlier this week when Commerce Minister Howard Lutnick quite resolutely advised the public to buy Tesla shares, comparing their current price to a once-in-a-lifetime opportunity. This comment was made during an appearance on Jesse Watters Primetime on Fox News, where he was asked about ongoing attacks on Tesla, including those directed at showrooms, charging stations, and even private cars.
However, one problem with his recommendation is that Lutnick may benefit from it. According to a report, Lutnick’s former firm, Cantor Fitzgerald, upgraded Tesla shares that very day and invested a significant sum in the company. Although Lutnick officially divested from the firm, his sons now hold key positions there, and Cantor maintains a price target on Tesla at $425 following a visit to the automaker’s AI data processing center and production line.
While some prominent Republicans have come to Musk’s defense — Trump himself showcasing Tesla at the White House and acquiring two cars — others are beginning to demand changes in leadership. Ross Gerber, a long-term Tesla investor and CEO of Gerber Kawasaki Wealth Management, is now calling for Musk to step down. “He is not running Tesla,” Gerber said. “The business has been neglected for too long.”
Calls for Investigation
But now Lutnick’s recommendation itself is attracting attention. Congressman Gerry Connolly, the leading Democrat on the Government Oversight Committee, supports investigating Lutnick’s comments, arguing that an acting Commerce Minister urging the public to invest in a specific company — especially one so closely tied to the administration — crosses a broadly defined ethical line.
“This is just the latest example of the Trump administration’s use of taxpayer resources to enrich the President’s inner circle,” Connolly wrote in a letter to the Acting General Counsel of the Commerce Department, discussed with the Department of Commerce, requesting Lutnick’s financial disclosures and internal correspondence related to the Fox interview, including emails with the White House, the Office of Government Ethics, and other oversight bodies.
The investigation request follows a series of recent Trump administration measures that have led to the firings of independent agency watchdogs and staffing reductions — efforts the Department had achieved, according to Connolly. Connolly accused Musk of using his dual role in government and the private sector to enact mass firing and deregulation while multiplying his profits from the chaos.
“Tesla is owned by someone allowed by the President to beat his way through the federal government,” Connolly wrote. “These ongoing legal violations demand a response commensurate with the level of abuse to deter further lawlessness and to ensure the American people that members of this Administration strive to serve all people, and not enrich just a chosen few.”
As the political spotlight shines brighter and ethical questions stack up, the Tesla-Musk story grows more complex. What began as a revolutionary car company is now entangled in partisan warfare, federal investigations, and top-level self-enrichment accusations. Whether Tesla can weather this storm or fall victim to the larger conflict remains a question for the future.
