Minnesota Governor Tim Walz is facing criticism after appearing to celebrate the drop in Tesla’s stock price—despite the fact that Minnesota’s state pension fund holds over 1.6 million shares of the company, directly impacting the retirement security of over a million state employees and retirees.
At a recent event in Wisconsin, Walz said:
“On the iPhone, they’ve got that little stock app. I added Tesla to it to give me a little boost during the day — $225 and dropping.”
The comment sparked immediate backlash, with critics slamming the governor for mocking a decline in value that affects working Minnesotans’ pensions. Republican State Senator Jeff Howe called the remarks “reckless and out of touch,” adding,
“This isn’t just a number on a screen. This is about people’s futures, their retirement. He should know better.”
Walz: “They Have No Sense of Humor”
After the backlash, Walz attempted to downplay the situation, claiming his comment was meant as a joke.
“I have to be careful about being a smarta–,” Walz said during a later town hall in Rochester. “I was making a joke. These people have no sense of humor. They are the most literal people.”
But the controversy hasn’t gone away.
Many in Minnesota are asking why a sitting governor would mock the falling value of a company that holds such a large share of public retirement funds, especially when the company in question—Tesla—is not only a leading American innovator but also actively partnering with the Trump administration to reform and modernize government operations through the Department of Government Efficiency (DOGE) initiative.
Tim Walz is now desperately trying to backpedal on his sick comments about Tesla. Claims it was a joke and accuses Republicans of having no sense of humor.
It’s always “just a joke” when they get called out.
Nobody is buying this. We know what he meant. pic.twitter.com/dlRVglGFde
— Libs of TikTok (@libsoftiktok) March 23, 2025
Criticism of Elon Musk a Factor?
Governor Walz has previously been critical of Tesla CEO Elon Musk, especially as Musk takes a more prominent role in national policy discussions. Walz has openly expressed concerns about the Trump administration’s decision to involve Musk in streamlining federal agencies, suggesting it’s a threat to union jobs and federal bureaucracies.
Critics say Walz’s jab at Tesla’s stock is less about finance and more about politics—specifically, resentment toward Musk’s growing influence in the Trump-era government.
Bottom Line
Whether it was a joke or a glimpse into the governor’s real views, the fallout from Walz’s comment has exposed a deeper issue: Democrat politicians increasingly rooting against American companies if they align with conservative leadership—even when it puts their own constituents’ financial interests at risk.
For now, Governor Walz may want to think twice before laughing at a stock chart—especially when Minnesota’s working families are the ones paying the price.