Lutnick Urging Fox Viewers to Buy Tesla Stock Decried as ‘Abuse of Power for Personal and Family Gain’

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One critic noted that the billionaire commerce secretary “conveniently forgot to mention his family business empire holds nearly $840 million in the company” led by government-gutting Elon Musk.

“Buy Tesla. It’s unbelievable that this guy’s stock is this cheap. It’ll never be this cheap again… Who wouldn’t invest in Elon Musk?”

That’s what U.S. President Donald Trump’s billionaire commerce secretary, Howard Lutnick, told viewers of Fox News‘ “Jesse Watters Primetime” on Wednesday—comments that watchdog groups swiftly condemned as unethical and illegal.

In addition to serving as CEO of companies including electric vehicle maker Tesla, Musk heads Trump’s Department of Government Efficiency, which is leading the administration’s sweeping attack on the federal bureaucracy. Musk is also the richest person on Earth, with an estimated net worth of $310–327.5 billion, some of which he put toward electing the Republican president

Earlier this month, Trump hosted a Tesla car show at the White House. His and Lutnick’s stunts come as the company faces protests over Musk’s work for the administration. Axios reported that “Tesla shares were down about 1.7% in premarket trading Thursday to $231.75. The stock is down 5% in the last five days, 35% in the last month, and 42% so far this year.”

The commerce secretary not only urged Fox‘s audience to invest in Tesla, he also heaped praise on Musk, calling him “probably the best entrepreneur, the best technologist, the best leader of any set of companies in America.”

Responding to Lutnick’s remarks in a Thursday statement, Kedric Payne, vice president, general counsel, and senior director for ethics at Campaign Legal Center, said that “the president’s Cabinet members take an oath to serve the American people, and with that oath comes the ability and privilege to exercise a vast amount of power.”

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“Such power is intended to promote the public interest,” Payne continued, stressing that officials like the commerce leader are “legally barred” from promoting their personal business interests. “Secretary Lutnick’s actions violate the ethics rules that were enacted to hold public officials accountable to the American people. His statement is part of a pattern of behavior showing that Trump’s indifference to ethics is trickling down to his most senior officials.”

“The American people deserve a government that prioritizes public good,” he added. “Most people will conclude that promoting a stock is not tied to any public good and ethics laws agree. The Office of Government Ethics and Commerce ethics officials should hold Lutnick accountable and reassure the public that their officials will face consequences if they use their public office to enrich themselves or their allies.”

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