Azoria Delays Tesla ETF Launch After Elon Musk Announces New Political Parties

JAKARTA - Investment company Azoria Partners on Saturday 5 July announced the postponement of its Tesla-themed ETF fund launch, Azoria Tesla Convexity Exchange Trade Fund, after Tesla CEO Elon Musk said he would form a new political party in the United States.

Musk made the announcement just a day after conducting a poll on social media platform X, which he also owns. In his post, Musk stated, "Today, the America Party was formed to restore your freedom."

ETF Azoria Tesla Convexity was originally scheduled to launch next week, focusing on investing in Tesla's electric car company shares and shares options. However, the plan was suddenly canceled following Elon Musk's latest political statement.

Azoria Partners CEO James Fishback has publicly criticized Musk's move through a series of uploads on X. Fishback has also again voiced his support for the elected US President, Donald Trump. In one of his uploads, Fishback said that the launch of the ETF was postponed, and urged the Tesla Board of Directors to immediately meet to evaluate Musk's political ambitions to his main responsibility as CEO of Tesla.

"I encourage the Council to immediately hold a meeting and ask Elon to provide clarification regarding his political ambitions, and evaluate whether it is still in line with his obligations as CEO of Tesla," wrote Fishback.

Fishback added that Musk's announcement has the potential to disrupt the confidence of shareholders in Tesla's future. He reminded that last May Musk also stated that he would step down from his role in leading the Government's Department of Efficiency, which at that time also raised concerns among investors.

Tesla has yet to provide an official response to the request.

Musk's move to form a new political party comes just a day after President Donald Trump signed a law to cut taxes and state spending which he called large and beautiful. Elon Musk is known to strongly oppose the policy.

Meanwhile, Azoria Partners is also offering another ETF product called Azoria 500 Meritocracy ETF, which only invests in 500 top US companies that do not impose recruitment policies based on diversity, equality, and inclusion (DEI), according to information from the company's official website.