Elon Musk is the “king” of controversy, and in addition to everything that happened in the topic of “Twitter”, the billionaire is now embroiled in another situation. After denouncing Tesla’s exit from Standard & Poor’s (S&P) ESG on Twitter and announcing its “turn” to the Republican Party, Elon Musk lost $12 billion in just 24 hours.
Even Elon Musk said ESG is a scam.
Environmental, Social and Corporate Governance is an approach to assessing how well a company is working toward social goals that go beyond the company's role to maximize profits on behalf of the company's shareholders.
After removing Tesla, Elon Musk spared no criticism, even revealing his opinion publicly on Twitter.
Exxon was ranked the world's ten best environmental, social, and governance (ESG) by the S&P 500, while Tesla wasn't on the list!
ESG is a scam. It has been weaponized by pseudo-social justice warriors.
- Elon Musk May 18 2022
According to Musk, "Exxon was ranked among the top ten ESG companies globally by the S&P 500, while Tesla didn't make the list! ESG is a scam. Created by pseudo-social justice warriors"
According to information from Jornal de Negócios, S&P Global Ratings justified the auto company's exit from this rating due to issues with human resources issues, including allegations of racial discrimination. The rating agency also reported alleged manipulation by Tesla into the US investigation into deaths and injuries caused by the brand's autopilot.
Musk was also on Twitter He announced his "conversion" to the Republican Party. "In the past I voted for Democrats, because they were (mostly) the party of kindness. However, they became the party of division and hate, so I would vote for Republicans."
In the past I voted Democrat, because they were (mostly) the kindness party.
But they have become the party of division & hate, so I can no longer support them and will vote Republican.
Now, watch their dirty tricks campaign against me unfold … 🍿
— Elon Musk (@elonmusk) May 18, 2022
In the face of everything that happens, Musk has lost $49 billion since launching a hostile Twitter IPO last month and $60.4 billion since the start of the year, the third biggest loss after Binance CEO Changpeng Zhao (about $81 billion) and Jeff Bezos ($62 million).
However, the founder of SpaceX remains the richest man in the world with a fortune estimated by Bloomberg at $209.09 billion.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.