TSLA
Surprise, it wasn’t just a promo
Elon Musk’s $1 million-a-day election giveaway is back — but not in the fun, viral way. A federal magistrate judge in Texas ordered Musk to sit for sworn testimony in proposed class-action lawsuits that say he and America PAC misled voters during the 2024 presidential election.
The plaintiffs’ version of events
The Arizona plaintiffs say the giveaway looked like a lottery: sign the petition, maybe win a million bucks. The catch, according to the suit, is that winners weren’t picked at random at all. They were allegedly handpicked as potential spokespeople for America PAC. That’s the sort of detail that turns a flashy campaign stunt into a legal migraine.
Why investors should care
This isn’t a balance-sheet bomb. Tesla isn’t being accused of broken cars or collapsing margins here. But when the CEO is the main character in a messy political lawsuit, it can still spill into the stock story:
- more distraction at the top
- more headline risk around Musk’s brand
- more reminder that his ventures are linked in the public mind, whether Wall Street likes it or not
Big picture
The judge still has to decide whether to adopt the recommendation and whether one of the claims survives. So this isn’t the final act — just the part where the popcorn gets expensive.