Top financial officials sound alarm on 'unconscionable' economic impact of DOGE protest violence: letter
FIRST ON FOX: A group of more than two dozen financial officers from across the United States has sent a letter to Attorney General Pam Bondi warning how the "domestic terrorism" attacks carried out against Tesla dealerships in recent weeks "have led to significant financial losses affecting millions of Americans."
"These attacks are not just politically charged, they undermine the financial well-being of the public servants who dedicate their lives to the betterment of our society and affect the long-term financial growth of our state pension systems and other state treasury investments," the letter to Bondi, signed by 26 state financial officers nationwide, explains.
"Many state investment funds, including public pensions that hold the retirement savings of our public school teachers, first responders, and police officers, are invested in Tesla for good reason. As of December 31, 2024, Tesla employs over 125,000 workers, and, before these incidents began in late January 2025, was valued at roughly $1.3 trillion and trading at over $400 per share," the letter continued. "Since these attacks started, Tesla’s stock has plummeted. It is unconscionable that the financial well-being of our public school teachers and police officers, and all beneficiaries of our state treasury funds – to say nothing of those whose personal property has been vandalized – has become collateral damage of rage politics and violent actions."
What began as protests against Elon Musk and his Department of Government Efficiency (DOGE) have escalated into violent incidents against the Trump ally's company, including shots fired at a building, destroyed dealership windows and charging stations set on fire.
The rise in incidents has caused the FBI to launch a task force to crack down on Tesla crime, and the Justice Department to announce charges against arson suspects, with Bondi labeling the attacks "domestic terrorism."
The letter commends the actions the administration has taken, including "swift" action by the FBI and says it is "our responsibility to call out radical elements of society that seek to use violence as a form of political and economic persuasion."
"The despicable attacks being carried out on Tesla vehicles across the nation are driven by radical political hatred and must not be tolerated. Not only are the attacks a threat to innocent people's physical safety – they have also caused considerable financial harm, not just for Tesla owners or the company itself, but for millions of everyday Americans whose pension funds are invested with Tesla," Pennsylvania Treasurer Stacy Garrity told Fox News Digital in a statement.
"As a result, the retirement savings of schoolteachers, police officers, and other public servants are at serious risk. My co-signers and I thank the Justice Department for their swift and decisive action against the perpetrators and call on other elected officials to condemn this violence for exactly what it is: domestic terrorism meant to intimidate and destabilize society."
Prominent Democrats have been slow to condemn the violence at Tesla dealerships, including over a dozen Democrats who have previously warned about the dangers of domestic terrorism in the past.
As the violence across the country continues, Elon Musk and other top Republicans have been increasingly calling out the protests and violence as being motivated by far-left groups and organizations.
"The anti-Tesla attacks are dangerous, selfish, and completely indefensible," O.J. Oleka, CEO of the State Financial Officers Foundation, told Fox News Digital.
"The radicals behind these crimes are dead wrong if they think they are victimless or merely symbolic. Those engaging in this domestic terrorism are putting human life at risk while also robbing hardworking Americans of their financial peace, especially those who depend on public pensions. No teacher or police officer or first responder should have to see their retirement savings suffer because hate-fueled violence was allowed to go on, or worse, shamefully encouraged by certain attention-hungry politicians. As this letter makes clear, our financial officers will support every necessary action to protect Americans, their property, and their financial future."
Fox News Digital's Sarah Rumpf-Whitten contributed to this report