Tesla CEO's Political Party Plans Delay Azoria ETF Launch

On July 5, the investment company Azoria Partners announced that it would delay the launch of its Azoria Tesla Convexity ETF. This decision came in response to the announcement by Tesla's CEO that they would form a new political party in the United States. The ETF, which was originally scheduled to launch the following week, was designed to invest in Tesla's stock and options.

The CEO of Azoria Partners expressed concerns about the compatibility of the CEO's political ambitions with their full-time role at Tesla. The CEO also noted that the announcement of the new party had weakened investor confidence in Tesla's future. The CEO urged the board to convene an immediate meeting to assess the situation.

Azoria Partners, known for its macro strategy, is led by its founder and chief investment officer. The company has also launched the Azoria 500 Meritocracy ETF, which tracks the S&P 500 index but excludes companies that implement diversity, equity, and inclusion (DEI) policies in their hiring and promotion processes. This ETF focuses on investing in S&P 500 constituents that do not adopt such policies.

Prior to the announcement of the new political party, the CEO had expressed strong opposition to the "Big and Beautiful" bill signed by the U.S. President. The CEO had previously served as the head of the U.S. Government Efficiency Department, aiming to reduce federal spending. This role had drawn criticism and impacted Tesla. In late May, the CEO stepped down from their government position and announced their full commitment to their company's affairs.

The formation of the new political party has raised concerns among Tesla investors about the CEO's involvement in politics. This has led to a delay in the launch of the Azoria Tesla Convexity ETF, as the investment company reassesses the situation. The CEO's political ambitions and their impact on Tesla's future are under scrutiny, with investors and stakeholders closely monitoring the developments.