Musk Fans Conspiracies About George Soros After Billionaire’s Fund Dumps All Tesla Holdings

Topline

Tesla CEO Elon Musk attacked George Soros on Twitter Monday evening, days after Soros’s investment firm disclosed it had sold off its entire holdings of Tesla stock, in remarks that closely mirror right-wing conspiracy talking points about the billionaire.

George Soros has been the target of several antisemitic conspiracy theories from the right.

POOL/AFP via Getty Images

Key Facts

In what appeared to be an unprompted tweet, Musk wrote Soros reminded him of the Marvel comic book villain Magneto.

One of Musk’s followers was quick to point out that both Soros and the fictional comic book character were Holocaust survivors and suggested the billionaire investor and philanthropist was getting attacked for his “good intentions” by people who disagree with him politically.

Musk replied to the comment by saying Soros does not have good intentions and he wants to “erode the very fabric of civilization,” ending his remark with “Soros hates humanity.”

Musk’s remarks, especially the second one, were met with immediate pushback from several commenters on Twitter who accused him of repeating antisemitic tropes.

Chief Critic

David Kaye, the former UN Special Rapporteur on Freedom of Expression, tweeted: “Twitter under Musk really brings it: grade school versions of free speech, quisling in the face of government demands, Soros-baiting antisemitism, 2nd amendment extremism — and that’s just his account.”

Key Background

Musk has not explicitly stated what prompted his most recent outburst against Soros, but it comes just days after Soros Fund Management disclosed in an SEC Filing it no longer held any Tesla stock. The investment firm previously owned $16 million worth of Tesla stock, all of which was sold off during the first quarter of 2023. Tesla wasn’t the only stock trimmed from Soros’ portfolio as it also slashed its stake in rival EV-maker Rivian and other tech stocks like Alphabet and Amazon. Soros, who has been a prolific donor for Democratic politicians and other progressive causes in the past few years, has been the target of widespread conspiracy theories from the right. In a recent interview, Soros dismissed “far-fetched” conspiracy theories against him pushed by “some on the right,” following former President Donald Trump’s indictment in the hush money payments case in New York. Soros denied claims that he had contributed to the campaign of Manhattan District Attorney Alvin Bragg—whose office led the hush money investigation.

Big Number

11%. That is the percentage by which Tesla’s share price has fallen in the past month, after an impressive recovery in early 2023.

Tangent

The comments against Soros aren’t the only controversial tweets Musk made on Monday night. The billionaire also commented “interesting” in response to a blog post by political commentator Richard Hanania, which called for “heavily policing, surveilling, and incarcerating more black people.”