Posted on 05/18/2022 11:45:45 AM PDT by lowbridge
Elon Musk lashed out against “phony social justice warriors” on Wednesday after Tesla was booted from a key stock index that tracks sustainable and socially conscious companies.
The mogul’s rage came after Tesla was removed from the S&P 500 ESG index, a list of companies that ratings agency S&P Global believes are making “meaningful and measurable sustainability-focused enhancements.” ESG stands for “environmental, social and governance.”
About $65 billion is indexed or benchmarked to the S&P ESG index, compared to more than $13 trillion for the overall S&P 500 — which includes Tesla — according to Barron’s.
Tesla were trading down 6.1% at $715.08 around mid-day on Wednesday.
In a blog post explaining the change, S&P cited accusations of racial discrimination and poor working conditions at Tesla’s California factory, as well as Tesla’s handling of federal investigations of crashes involving its autopilot feature.
“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,” S&P Dow Jones Indices’ ESG chief Margaret Dorn wrote.
While the S&P 500 ESG index no longer includes the world’s largest producer of electric cars, it still contains companies like Apple and Amazon, as well as one of the world’s largest oil producers: Exxon-Mobil.
Musk ranted about the move and singled-out Exxon on Wednesday.
“Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list!” Musk wrote on Twitter. “ESG is a scam. It has been weaponized by phony social justice warriors.”
(Excerpt) Read more at nypost.com ...
Really? Tesla? Wow!
If you can call it “social justice”, that serves to put a positive face on anger and resentment.
Putin’s environmental puppets in the West score a heavy victory over Pootie’s enemy Elon Musk.
Ah, the daily confirmation that the ONLY standard of the left is a double one.
What a bunch of loons.
So he was fine being on it, but when booted, it’s a scam.
this is outrageous. but the s&p has Exxon as in the top 10...lol
Elon is going to shred these imbeciles.
Buying opportunity, buy on the dip. Fundamentals are solid for Tesla, growth for the rest of the year, profits doubling. The entire market is down taking everything negative but some will rebound greatly. And Tesla stock is priced where it was 6 months ago at lesser profits.
There are more powerful people demons behind closed doors than imaginable. He can be the richest man on the world at present time but he’s messing with some evil powerful people who have a say so in what comes in what goes. And they’re out to destroy him ....and they will mark my words.
Parts of our Declaration of Independence are sounding eerily familiar these days...
Bongino constantly talks of the parallel economy saying ditch Stripe and posts a link to a payment site that says; Apply Now. I didn’t have to apply for paypal or Stripe.
If you’re going to try and compete with Stripe, you need to make it as easy and affordable as Stripe.
https://www.paralleleconomy.com/
He’s comparing apples to oranges because applying for https://www.paralleleconomy.com/ is like applying for a full blown merchant account, not Stripe.
This is unbelievable. The leftist corporate globalists will stop at nothing. Would they feel justified in stealing an election through blatant criminality? Of course they would.
not sure if he’s a Believer but he’s certainly a fighter and he’ll win. The ones that lose curl up in a ball on the floor and whimper. That’s not Elon. That’s not Trump either. And it shouldn’t be us
I really really really love this guy.
He’s the corporate version of Donald Trump.
I can believe it. This comes right after Musk tweeted that he will no longer be a Democrat or vote Democrat.
It only reinforces what it is, that the “ESG” index (Environmental, Social, Corporate Governance) is and always has been political and not a “financial health” index.
It also means that booting Musk/Tesla means the index is less market valuable, BECAUSE it excludees Musk/Tesla.
Like Trump he’s really laying bare these phonies.
Good graphic.
Elon is seeing just how corrupt Leftism is at its core.
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