Elon Musk Goes On The Attack After Tesla Cut From S&P ESG Index

The world's leading maker of electric vehicles has been removed from the S&P 500 due to flaws in its business conduct and low ethical standards. The move made Musk angry and he called it a scam.

S&P removedTesla from the index early this month as part of a regular rebalancing of companies that prioritize sustainable business practices, but didn't detail the changes until today, with a post from Margaret Dorn, head of S&P's North American. Apple, Microsoft, Amazon and Alphabet were the highest-ranked companies on the list. Exxon Mobil was ranked among the top 10, but it was ineligible for inclusion because it scored in the bottom 25%.

Due to its lack of low carbon strategy and codes of business conduct,Tesla was pushed further down the ranks relative to its global industry group peers. Two separate events centered around claims of racial discrimination and poor working conditions at the Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles, were faulted by the company.

“While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens.”

No manufacturer has done more to push the auto industry to shift to electric vehicles than Musk and his company. There are also lawsuits that claim discrimination against Black employees in California, and a federal investigation of its partially automated Autopilot feature that has been linked to numerous accidents.

Exxon is rated the top ten best in the world for environment, social and governance by S&P 500. It has been weaponized by social justice warriors.

The billionaire, who has grown increasingly strident in his political comments, has had increasingly tense relations with government agencies in the U.S., including the Securities and Exchange Commission, National Highway Traffic Safety Administration, Occupational Health and Safety Administration and National Labor Relations Board.

S&P's move appeared to amplify Musk's growing animus toward Democratic politicians and policies, a sentiment he shared this week at the All In Summit in Miami.

I used to vote Democrat because they were mostly the kindness party. They have become the party of division and hate so I will no longer support them and vote Republican.

There was a broad market selloff that led to a decline in the price ofTesla shares. They are down nearly 40% this year.