Elon Musk Takes Sides in the Speaker Race

TheStreet

The CEO of Tesla and Twitter has become one of the most influential voices in the Republican camp.

Elon Musk can’t help it.

The whimsical and visionary billionaire likes to interfere in sensitive issues.

Lately though, many of Tesla’s investors have all but begged him to stay away from politics and refocus on the electric vehicle maker. It must be said that the automobile manufacturer has been experiencing a real stock market rout for several months. Tesla stock lost more than 65% of its value in 2022.

The stock market bloodbath has continued since the beginning of 2023. In the January 5 trading session, Tesla’s stock price fell nearly 3%.

While Musk is aware of Tesla’s share price crash, the tech tycoon has so far remained deaf to requests from shareholders, the most vocal of whom have voiced their dissatisfaction with his involvement in politics on Twitter.

The serial entrepreneur continues to cultivate his uniqueness and take advantage of his growing influence, particularly in conservative circles. Musk has just taken a stand in the race to elect the House speaker. He has just chosen his candidate as Republicans, who regained a majority in the House of Representatives in the midterm elections last November, have failed to elect the new House Speaker.

California Representative Kevin McCarthy, who is seeking this super powerful position, is facing fierce opposition from the right wing of the Republican Party. The vote has been going on for three days now.

Musk Votes For McCarthy

“Kevin McCarthy should be Speaker,” Musk said on January 5.

Aware that his choice was not unanimous, the techno king explained that McCarthy was the only good choice, even the only option.

“Subtle, but I am beginning to suspect opinions differ on this matter …If not McCarthy, then seriously who?” he added.

The billionaire’s first tweet announcing his choice was seen by nearly 40 million Twitter users. But most comments disputed Musk’s decision. They felt in particular that McCarthy was not the right choice.

“No,” commented Libertarian and former member of Congress Justin Amash. “Kevin McCarthy embodies everything people hate about politics. He’s unprincipled, dishonest, vindictive, and focused solely on gaining and maintaining power.”

“I think 90% of Republican voters disagree,” quipped Conservative voice Mario Fratto.

“Why?” asked another Twitter user. “And I say this as a 3rd party Libertarian. Republican voters don’t want him…they want someone, anyone that’s America-First. The fact the GOP doesn’t care, they just want to keep the gravy train rolling is telling. Corruption ends when the DC mafia stops getting their way.”

For the third day in a row, McCarthy had still not succeeded in convincing all the members of his party to vote for him as House speaker. He lost a 10th vote in a row on January 5 despite offering new concessions to hard-right republicans.

Without a speaker, the House cannot pass laws or even swear in its members. The chamber can’t do anything until a speaker is chosen.