Democrats are raging against Elon Musk, but some are still buying Tesla stock
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- Elon Musk has become a major boogeyman for Democrats, with some taking aim at Tesla.
- One Democratic senator recently sold off his Tesla to stick it to Musk.
- But some Democrats on Capitol Hill have invested in Tesla in recent weeks.
In early February, as the furor around Elon Musk and DOGE's remaking of the federal government began to swell on the left, Democratic Rep. Julie Johnson sold off her Tesla stock.
The Texas Democrat wasn't trying to make a statement. An independent financial advisor had made the decision to sell off her shares — worth between $16,000 and $65,000 — without her input.
"I'm all for people selling Tesla stock," Johnson told BI. "In my personal situation, I have money managers that take care of all of it, and I don't have anything to do with what we buy and sell."
While Johnson was selling, some of her fellow Democratic colleagues were buying, according to a review of recently filed periodic transaction reports.
Rep. Vicente Gonzalez, whose South Texas district is home to the headquarters of Musk's SpaceX, bought at least $65,000 worth of Tesla stock earlier this month. Rep. Gil Cisneros of California, meanwhile, bought between $1,000 and $15,000.
And Rep. Josh Gottheimer of New Jersey, one of the most frequent traders in Congress, bought and sold thousands of dollars in Tesla stock several times in both January and February of this year.
As with Johnson, some of those trades are said to have been made by someone else. A spokesman for Cisneros said that "outside financial advisors who have a fiduciary responsibility to maintain a diverse portfolio" managed the congressman's investments. He also pointed out that Cisneros was critical of Musk both before and after making the trade.
Bill Clark/CQ-Roll Call via Getty Images
"Unlike President Trump, who held an impromptu Tesla infomercial for Elon Musk on the White House lawn, and Secretary Lutnick, who violated the law when he implored people to buy Tesla stock during a television interview, Congressman Cisneros has never abused his official position to benefit a private entity," the spokesman said.
Similarly, a spokesperson for Gottheimer told BI that all of his trades are made by a "third party" and that the congressman is in the midst of setting up a blind trust.
A spokesperson for Gonzalez did not return multiple requests for comment.
In recent weeks, some Democrats — and others opposed to Musk's politics — have taken intentional aim at Tesla, including selling their Tesla vehicles.
Sen. Mark Kelly of Arizona recently sold off his Tesla for a Chevy Tahoe, and Sen. Adam Schiff of California recently told Semafor that he'd be "happy to unload" his Tesla.
"Elon Musk kind of turned out to be an asshole," Kelly said in a video at the time.
Used Tesla listings have increased by 33% this year, indicating that many are looking to sell their cars, with many apparently put off by Musk's antics.