Senator Jeff Howe (R-Rockville) released the following statement criticizing Governor Tim Walz for his celebratory comments that Tesla stocks were falling. As of June, 2024, Minnesota’s retirement fund holds 1.6 million shares of Tesla, and the non-retirement fund holds another 211,000 shares, as of the most recent reporting online.

“Like many Minnesota state pension holders, I am offended Governor Tim Walz celebrated the decline of Tesla’s stock. When Tesla’s stock falls, it’s not just Wall Street that takes a hit—it’s teachers, first responders, state employees, and retirees who rely on these investments for their future security.

“The governor’s job is to protect the financial well-being of Minnesota’s pensions, not root against their investments for his political gain or personal enjoyment. His comments are reckless and show a disturbing lack of concern for the people whose livelihoods depend on responsible financial management.”

The State Board of Investment is chaired by Governor Walz, who said last August he doesn’t hold any stocks. As former Minnesota teacher he would be eligible to collect state-funded pensions.

Howe sits on the Legislative Commission on Pensions and Retirement, and is a retired firefighter.