Minnesota Governor Tim Walz may have gone too far — again.
Known for putting his foot in his mouth, Walz is now facing serious questions about whether his recent public attack on Tesla and Elon Musk could violate state fiduciary law. According to On The Money, his comments may have put Minnesota retirees’ pension funds at risk.
Mocking Tesla While Managing Millions in Tesla Stock?
At a recent rally in Wisconsin — one that seemed more like a cringe comedy act than a political event — Walz made fun of Tesla’s share price, saying:
“I added Tesla to the stock app on my iPhone — $225 and dropping!”
He even joked that Tesla owners should use dental floss to remove the company’s emblem.
That might sound like a harmless jab to some. But here’s the problem: The Minnesota state pension fund owns over 1.6 million shares of Tesla stock. And Walz, as governor, is chairman of the pension board — meaning he has a legal obligation to act in the best interest of retirees and public workers.
What Is a Fiduciary Responsibility — and Did Walz Break It?
In legal terms, a fiduciary is someone who must protect the financial interests of others — in this case, the retired teachers, police officers, and public employees who depend on their pension.
Walz’s public comments — mocking a major holding in the fund — could be seen as an attempt to devalue a stock he’s legally required to protect.
Even financial experts are calling it a serious issue. Kevin O’Leary, the well-known investor from Shark Tank, put it bluntly:
“It was a blatant disregard of fiduciary responsibility.”
Elon Musk: Public Enemy #1 for the Radical Left
It’s no secret that Elon Musk has become a target of the progressive left. Why? Because he’s dared to speak out against wasteful government spending, slashed taxpayer-funded pet projects, and—worst of all for Democrats—partnered with President Donald Trump in key tech and defense reforms.
That makes Musk a top villain for liberal governors like Walz, who seem more interested in partisan attacks than sound governance.
But when those attacks affect the financial well-being of pensioners, the stakes are much higher.
Could Walz Face Legal Consequences?
Minnesota’s own pension fund website is clear: the board’s job is to “make sound investment decisions” and act as fiduciaries.
According to Investopedia, a fiduciary breach occurs when:
“Actions are taken which violate or are counterproductive to the interests of a specific beneficiary… often to benefit the fiduciary or a third party.”
If Walz’s name were Trump instead of Tim, there’s no doubt liberal prosecutors would already be calling for investigations.
Interestingly, Minnesota Attorney General Keith Ellison—who also sits on the pension board—has stayed silent. You may remember Ellison as the figurehead behind the prosecution in the George Floyd case. If anyone understands legal overreach, it’s him.
So far? No comment.
Walking It Back — But Is It Too Late?
Walz has since referred to himself as a “smartass” and a “knucklehead,” a clear attempt to soften the fallout. Some believe he may have received a quiet warning behind closed doors.
But that won’t comfort the thousands of Minnesotans whose retirement savings are tied up in the very company he mocked.
Bottom Line: Actions Have Consequences
When elected officials publicly bash companies that are tied to state investment portfolios, it’s more than just bad optics. It could be financially reckless — or even illegal.
And for Gov. Walz, this gaffe may cost more than just political points.
👉 Stay informed.