Investment firm Azoria Partners announced Saturday that it is postponing the launch of its Azoria Tesla Convexity exchange-traded fund (ETF) following Tesla CEO Elon Musk’s announcement that he is forming a new U.S. political party.
Musk unveiled the “America Party” on Friday via a post on X, the social media platform he owns, declaring, “Today the America Party is formed to give you back your freedom.” Azoria had planned to debut the Tesla-focused ETF—designed to invest in the company’s shares and options—next week.
But after Musk’s political announcement, Azoria CEO James Fishback posted a series of critical remarks about the new party on X and reiterated his support for President Donald Trump. Fishback later confirmed the ETF’s postponement in a follow-up post.
“Elon has gone too far. My investment firm (Invest Azoria) has decided to postpone next week’s public listing of our Azoria Tesla Convexity ETF,” Fishback said in his X post. “Our decision comes in direct response to Elon Musk’s announcement that he is launching a new national political party.
“This creates a conflict with his full-time responsibilities as CEO of Tesla. It diverts his focus and energy away from Tesla’s employees and shareholders,” he continued. “Azoria believes that Tesla is the most compelling long-term investment in AI. With breakthroughs in robotaxis, Optimus, and full self-driving, no other company is positioned to lead the future like Tesla.
“In May, when Elon stepped back from his work at DOGE and returned his attention to Tesla, we were encouraged. With Elon fully engaged, he gave shareholders renewed confidence in Tesla’s future,” Fishback added. “Elon’s announcement today undermines that confidence. Unlike his work with SpaceX or xAI, which complement Tesla’s R&D efforts in AI, automation, and engineering, a political party not only fails to complement Tesla’s mission—it actively undermines it.
“I just sent the attached letter to Robyn Denholm, Chair of Tesla’s Board of Directors. I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO. I remain hopeful that Elon will return his full attention to Tesla. If not, I trust the Board will take appropriate action,” he wrote.