Breaking News
Investing Pro 0

Twitter owner Musk backs Republicans on eve of U.S. midterms

Stock Markets Nov 07, 2022 10:15PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: SpaceX Chief Engineer Elon Musk gestures during a joint news conference with T-Mobile CEO Mike Sievert at the SpaceX Starbase, in Brownsville, Texas, U.S., August 25, 2022. REUTERS/Adrees Latif/File Photo
 
TSLA
+2.77%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
META
+0.64%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Susan Heavey and Rami Ayyub

WASHINGTON (Reuters) -Elon Musk, Twitter's new owner, urged Americans to elect a Republican Congress in U.S. midterms on Tuesday to counterbalance President Joe Biden's Democrats, the first time a major social media CEO explicitly took a side.

"Shared power curbs the worst excesses of both parties, therefore I recommend voting for a Republican Congress, given that the Presidency is Democratic," Musk said in a tweet on Monday to his more than 110 million followers.

Republicans are favored to win a majority in the House of Representatives in Tuesday's elections, with the Senate rated a toss-up by nonpartisan election forecasters. Democrats currently control both houses.

Musk, the world's richest person and CEO of Tesla (NASDAQ:TSLA), took over Twitter in a $44 billion deal last month and has engaged in drastic measures including sacking half the staff and a plan to charge for blue check verification marks.

His absolutist stance on free speech has led some groups to warn against a rise in misinformation and some advertisers to pull their spending. A crackdown on users impersonating Musk prompted Twitter to suspend comedian Kathy Griffin.

Later, he added, "I'm open to the idea of voting Democrat again in the future" and said he had historically been an independent who had voted for Democrats.

Musk has been critical of the Biden administration and Democrats for their proposals to tax billionaires and give more tax incentives to union-made electric vehicles. Tesla does not have unions at its U.S. factories.

Republicans could use a majority in either chamber to bring Biden's agenda to a halt and launch potentially politically damaging investigations into Biden's administration and family.

Kyle Kondik, from the University of Virginia' Center for Politics, said it was unlikely Musk's words would influence the election's outcome.

"It's hard to expect any sort of celebrity 'endorsement,' as this basically is, to have much if any effect on voter behavior," Kondik said.

Asked about Musk's comments, White House press secretary Karine Jean-Pierre said: "The president has often spoken about the importance of voting, and I'm just going to leave it there as to not get involved in any kind of election conversation."

Former Republican Speaker of the House Newt Gingrich described Musk's comments as "very encouraging."

NEW LINE FOR SOCIAL MEDIA EXECS

Musk is not alone among social media executives in taking open political stances.

Sheryl Sandberg, former operating officer of Facebook (NASDAQ:META) owner Meta Platforms Inc, for instance, has donated heavily to progressive candidates and endorsed Democratic presidential contender Hillary Clinton in 2016.

Like other executives, however, Sandberg stopped short of explicitly telling her followers how to vote and took pains to keep a distance between her personal leanings and her work.

Former Twitter Chief Executive Jack Dorsey has voiced a sense of alienation from both Republican and Democratic politics, while Meta Chief Executive Mark Zuckerberg and his wife donated to two nonprofits that distributed grants to state and local governments to help them conduct elections.

In a statement to Reuters, Jessica Gonzalez, co-CEO of Free Press, an advocacy group, said Musk's comment showed he "is not showing himself to be an even-keeled CEO that advertisers can trust."

Last year Tesla moved its headquarters from California - its biggest market - to the more conservative state Texas. Musk also moved his personal residence from California to Texas, where there is no state income tax.

In April, Musk said on Twitter he believes that for the platform "to deserve public trust, it must be politically neutral."

Federal authorities are investigating Musk over his conduct in acquiring Twitter, the company said in a court filing last month. The U.S. Securities and Exchange Commission and the Federal Trade Commission have not commented on any potential probes.

Twitter owner Musk backs Republicans on eve of U.S. midterms
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (18)
BD
BD Nov 08, 2022 12:07AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Elon bought Twitter so he could spam his ideologies. It was never about free speech. The irony is Republicans will counter his EV movement. What a hypocrite.
Brad Albright
Brad Albright Nov 08, 2022 12:07AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Spot on.
Jason Moreira
Rolln Nov 08, 2022 12:05AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Embarrassing to own a tesla now
Ricardo Diogo
Rcd72 Nov 07, 2022 11:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
time to quit Twitter...
Branden Ash
Branden Ash Nov 07, 2022 11:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
time to join
Branden Ash
Branden Ash Nov 07, 2022 11:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
time to join Twitter for me.
Branden Ash
Branden Ash Nov 07, 2022 11:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
time to join Twitter for me.
Aleksandr Rogovoy
Aleksandr Rogovoy Nov 07, 2022 11:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
xa-xa-xa !
Nick Edward
Nick Edward Nov 07, 2022 11:39PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Puts on elon
Minh Vo
Minh Vo Nov 07, 2022 11:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Tesla will bankruptcy at the end of this year
william robert
william robert Nov 07, 2022 10:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The irony is that Musk received a large loan from the U.S. gov't to start his company. He did pay it back. And now he should just shut his mouth. It was a loan made during Obama's presidency. And divided gov't that is great? is just a myth. Divided gov't gets nothing done which the USA has been doing for the last two decades just about.
Jeffrey Beeler
Jeffrey Beeler Nov 07, 2022 10:29PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
An American Hero!! Created and revolutionized 3 industries. Hopefully he’ll ********the Leftist bias at twitter and bring about a true free speech town square where all sides can be hear, not just woke screaming idiots.
Me comment
Me comment Nov 07, 2022 8:21PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Another reason I'll never own or use Twitter or Telsa.
Jay Jay
Jay Jay Nov 07, 2022 8:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Musk is as much a hypocrite as ant other facist. When there is a Republican president, u think he's gonna say the Democrats should control Congress. 1,000% no f'in way. Musk is a true facist.
Maximus Maximus
Maximus Maximus Nov 07, 2022 6:58PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
quit twitter, sell your tesla
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email