Azoria postpones Tesla ETF launch after Musk announces new party

Azoria Partners has decided to postpone the launch of a Tesla Exchange Traded Fund (ETF) after Elon Musk announced last weekend his intention to create a new political party [the America Party] in the United States .

This Tesla ETF, from Azoria Partners, was intended to invest in shares and options of the electric vehicle manufacturer, led by Elon Musk, highlights the news agency Reuters.

Azoria CEO James Fishback has criticized Elon Musk's intention to create a new political party in the United States.

“I encourage the [Tesla] board to meet immediately and ask Elon Musk if he can clarify his political ambitions and to assess whether there is compatibility [between creating a new political party] with his obligations to Tesla as CEO,” James Fishback said on the social network X.

Elon Musk's intention to create a new party comes after the approval of the “ Big Beautiful Bill ”, a term used by the President of the United States to refer to the North American budget proposal.

Trump's budget proposal has been criticized by Elon Musk, who has warned of the increase in debt that the United States will suffer with the "Big Beautiful Bill", which Elon Musk says is five trillion dollars.

It should be noted that Elon Musk was once part of Donald Trump's US administration, being in charge of DOGE [the government department responsible for improving the efficiency of the US government].

Donald Trump has also reacted to Elon Musk's intention to launch a new party . "Ridiculous," said the American leader.