Investor and entrepreneur Kevin O’Leary has blasted Minnesota Governor Tim Walz for celebrating a drop in Tesla’s stock price, calling the Democrat’s remarks “beyond stupid” and financially reckless, especially given the real-world impact on state investments and working-class Minnesotans.
The controversy began when Walz openly mocked Tesla’s market dip, telling an audience:
“I look at the stock market — I just look at Tesla. I just look on my iPhone and see it at $225 and dropping, and I get a little boost.”
Walz’s comment was an apparent jab at Tesla CEO Elon Musk, a frequent target of left-wing politicians and media due to his unapologetic support for free speech, free markets, and his increasing alignment with conservative values.
O’Leary Calls Out Walz’s Economic Ignorance
In response, Kevin O’Leary — known for his business acumen on Shark Tank and his outspoken defense of economic literacy — issued a sharp rebuke.
“This is beyond stupid,” O’Leary said. “This guy’s the governor of a state that holds Tesla in its pension and retirement funds. That means firefighters, police officers, teachers — they all lose when Tesla drops. And he’s cheering it on?”
O’Leary emphasized that politicians should not be cheering the losses of American companies, especially ones that are innovating and creating jobs, nor should they be gloating over financial losses that hurt their own constituents.
Kevin O’Leary nails it on multiple points here:
1. Anyone who lights a car on fire should go to jail, no exceptions
2. Tim Walz is a moron because Minnesota’s pension plan is backed by Tesla stock pic.twitter.com/x5bEBgIGov
— Nick Adams (@NickAdamsinUSA) March 20, 2025
Musk Responds With a Subtle Swipe
Tesla CEO Elon Musk also weighed in with a characteristically sly response. Referencing the growing alignment between conservative populists and free-market innovators like himself, Musk posted:
“Portrait of J.D. Vance now hanging in the White House.”
The comment was widely interpreted as a nod to Trump’s Vice President and rising MAGA star, Senator J.D. Vance, as well as a mocking contrast to Walz’s out-of-touch worldview.
State Pension Funds at Stake
O’Leary’s criticism goes beyond political jabs. Publicly available data shows that Minnesota’s state pension funds — like many across the country — hold investments in Tesla and other major U.S. companies. When those stocks lose value, it directly impacts retirement returns for state employees.
By celebrating the decline of a successful American company, Walz essentially cheered on financial pain for many of the very workers he claims to represent.
Political Backlash Mounts
Conservatives quickly pointed out the hypocrisy of Walz’s statement — a Democrat governor rooting against American innovation, while working-class Americans and retirees bear the consequences.
Others noted the broader trend of Democrats demonizing successful entrepreneurs, especially when those leaders — like Elon Musk — refuse to toe the progressive line.
As the 2024 election season heats up, Walz’s remarks are being seen as part of the broader war between pro-growth conservatives and anti-business leftists, with Trump, Musk, and leaders like J.D. Vance championing American industry, while Democrat politicians mock it.
Bottom Line
Kevin O’Leary said it best: “You don’t root for failure when your own people’s futures are tied to success.”
Gov. Walz may have thought he was making a clever political point. Instead, he exposed the dangerous short-sightedness of modern Democrat leadership — more interested in petty political attacks than protecting the prosperity of the very people they serve.