surprising fact
The S&P 500 removed Musk’s Tesla from its ESG Index in May 2022, citing a “lack of low-carbon industry” and “codes of business conduct” following claims of racial discrimination and poor working conditions at Tesla’s Fremont, California, factory. Tesla’s handling of an investigation by the National Highway Transportation Safety Administration also weighed on its ESG score, according to the S&P 500. Musk denounced the rating, claiming ESG “is a scam” that has been “weaponized by phony social justice warriors,” and called ESG the “Devil Incarnate.”
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key background
SpaceX has faced scrutiny in recent years over workplace safety, labor disputes and allegations of employee discrimination and retaliation. The National Labor Relations Board dismissed a case in February accusing SpaceX of illegally firing eight employees who criticized Musk and requested that the company distance itself from Musk’s social media comments, including one in which he made light of allegations of sexual harassment against him. In August 2023, the Justice Department sued SpaceX for allegedly discouraging asylum seekers and refugees from applying and refusing to hire or consider them because of their citizenship status. The DOJ dropped its case in February 2025. Musk’s xAI, which was acquired by SpaceX earlier this year, has faced litigation and investigations into allegations that AI chatbot Grok enabled the creation of non-consensual sexualized images, including claims involving minors. Musk’s AI firm also faces an environmental lawsuit over gas-burning turbines in Mississippi, though the DOJ has requested that the case be dropped.
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forbes valuation
Musk is by far the world’s wealthiest person with a net worth of $1.2 trillion as of Monday, according to Forbes’ estimates. The Tesla and SpaceX CEO became the world’s first trillionaire earlier this month after SpaceX’s IPO, with his fortune swelling to above $1.4 trillion amid record-setting investor demand.
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further reading
ForbesSpaceX Stock Plunge Wipes Out $600 Billion After Cursor Deal Spooks InvestorsBy Ty RoushForbesWill SpaceX Impact Your 401(k)? Here’s How Regular Investors Are ExposedBy Ty Roush