Investment company Azoria Partners has decided to delay the launch of its Azoria Tesla Convexity ETF, following Elon Musk’s surprise announcement of a new political party. Musk, the CEO of Tesla, revealed on social media platform X that he is starting the “America Party”, just a day after conducting an online poll.
In his post, Musk wrote, “Today the America Party is formed to give you back your freedom.”
ETF Launch Put on Hold
Azoria had initially planned to launch the ETF the following week. The new fund was set to invest directly in Tesla’s stocks and options. However, after Musk made his political intentions public, Azoria CEO James Fishback criticized the move and announced a postponement.
Fishback shared his concerns on X, where he openly questioned Musk’s new direction and reasserted his own support for President Donald Trump. He later urged the Azoria board to meet urgently and stated:
“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.”
Investor Concerns Rise
Fishback also said Musk’s announcement had shaken investor confidence, especially since Musk previously stepped away from leading the Department of Government Efficiency in May. The uncertainty around Musk’s focus on Tesla has raised doubts about the company’s stability in the financial markets.
So far, Tesla has not responded to Reuters’ request for a statement on the matter.
Political Context
Musk’s announcement came just one day after President Trump signed a major tax and spending bill into law—a bill that Musk had strongly criticized. Musk’s opposition to the legislation may have played a role in his decision to form a political party.
About Azoria’s Other Fund
Apart from the Tesla ETF, Azoria also manages the Azoria 500 Meritocracy ETF. According to the company’s website, this fund invests only in the top 500 U.S. companies that do not follow diversity, equity, and inclusion (DEI) hiring policies.