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Silicon Valley Investor Wants Musk to End Relationship With Trump

Silicon Valley investor Doug Derwin wants Tesla (TSLA) CEO Elon Musk to end his relationship with President Donald Trump and is trying to use newspaper ads to do it, Recode reports. Derwin has taken out a series of full page ads in the New York Times and other publications asking Musk to “stand up against Trump.”

The open letter is part of Derwin’s public $2 million campaign to push Musk to dump Trump and pull out of an advisory board the president formed to focus on economic issues. Derwin will also be running critical TV ads.

Late Sunday afternoon a Tesla spokesperson commented on the Derwin project to Recode, reiterating the company’s stance that remaining on the board is the right thing:

“It’s quite ironic that the reason being given for attacking Elon is to help the environment. Tesla’s entire reason for existing is to accelerate the advent of sustainable energy. If someone wants to spend money to promote a pro-environment objective, we can think of better ways to do that than attacking the people who are most committed to that very purpose. Mr. Derwin believes those who want a more sustainable future should not have a seat at the table. We disagree.”

(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet’s top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)


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