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Over 1,700 Tesla investors are responding to Elizabeth Warren’s call for Musk investigation
Over 1,700 Tesla shareholders are responding to Massachusetts Senator Elizabeth Warren, who recently wrote a letter to Tesla Board Chair Robyn Denholm asking the EV maker’s Board of Directors to investigate CEO Elon Musk’s alleged conflicts of interest. As per the Tesla shareholders, the US Senator’s efforts are better directed towards matters that directly relate to her home state.
US Senator Warren’s letter to the Tesla Board of Directors was made public last week. The official outlined several concerns in her letter, such as Musk’s alleged diversion of Tesla’s resources to xAI, his alleged conflicts of interest, and the alleged neglect of corporate governance duties from the Tesla Board of Directors. Warren also argued that Tesla shareholders have “suffered” from a lack of oversight at the EV maker.
In their response, the TSLA shareholders noted that they are concerned about the US official’s focus on Tesla, especially since the EV maker is not domiciled in Massachusetts. The stockholders, who number over 1,700 as of a recent update, also addressed some of the US Senator’s concerns in her letter.
? Sen Warren
Only 24h and already 1,742 signers of the letter to Senator Warren. You are amazing.
If someone from MA knows a journalist there, let me know.
To sign:
-> https://t.co/vjJS5w26sg or
-> https://t.co/eWCX59xzJF
Will print out on Wednesday and mail to her. https://t.co/8Y5Ate91nG— Ale?andra Merz ?? (@TeslaBoomerMama) August 11, 2024
Following is the Tesla stockholders’ letter to US Senator Warren.
Dear Senator Warren,
We, the undersigned Tesla shareholders, are writing in response to your letter dated August 8, 2024, addressed to Dr. Robyn Denholm, Chair of the Board of Tesla. We must express our deep concern and disappointment regarding your unwarranted interference in Tesla’s affairs.
First and foremost, we question the basis of your involvement in this matter. Tesla is not domiciled in your state, and to our knowledge, you are not a shareholder. Your attempt to exert influence over a company in which you have no direct stake is, frankly, perplexing and concerning.
We cannot help but view your actions as politically motivated, particularly given the timing of your letter during a Presidential election period. This appears to be an attempt to generate political pressure rather than a genuine effort to address shareholder concerns.
Your letter conspicuously fails to acknowledge Tesla’s significant contributions to the American economy, the global shift to EVs and to a sustainable future. As the most American car maker, Tesla has created tens of thousands of jobs across the country. Moreover, Elon Musk’s other ventures have further bolstered American innovation and employment. Your silence on these crucial points is telling.
Addressing Your Specific Points:
1. Diversion of Al Resources: The allocation of resources across Musk’s companies often leads to synergies that benefit Testa. This is a matter for the Board and shareholders to address, not external politicians.
2. Founding of xAI: The potential for collaboration between XAl and Tesla could drive innovation in ways that ultimately benefit our company and shareholders.
3. Conflicts of Interest: The Board is well aware of its fiduciary duties and is capable of managing potential conflicts without external political pressure.
4. Board’s Oversight: We have confidence in our Board’s ability to provide appropriate oversight. Your assertions of failure are both premature and presumptuous.
5. Shareholder Concerns: While some concerns exist, many shareholders continue to support Mr. Musk’s vision and leadership. We prefer to address these matters internally, without political interference.
6. Your Questions: While your questions are noted, we believe they should be addressed to the Board by legitimate stakeholders, not by politicians seeking to make headlines.
Senator Warren, while we respect your role as a public servant, we strongly believe your energies would be better directed towards matters that fall within your purview as a Senator from Massachusetts.
Testa’s corporate governance is a matter for its Board, its shareholders, and the appropriate regulatory bodies.
We kindly request that you refrain from further interference in Tesla’s affairs. Instead, we suggest focusing on creating an environment that fosters innovation and job creation – areas where Tesla and Elon Musk’s other ventures have demonstrably excelled.
We stand firmly behind Testa’s mission and leadership, and we will continue to work constructively with the Board to ensure the company’s ongoing success and adherence to proper governance standards.
Sincerely,
Tesla Shareholders
This is not the first time that Tesla or Musk has found itself in the crosshairs of the US Senator. Back in December 2021, Warren called for changes in the US tax code so that Elon Musk would stop “freeloading off everyone else.” In December 2022, Warren sent a letter to Tesla’s Board of Directors asking them if Elon Musk has been diverting the EV maker’s resources to Twitter. In July 2023, Warren also sent a letter encouraging the SEC to investigate Tesla and its Board of Directors, citing potential “conflicts of interest, misappropriation of corporate assets, and other negative impacts to Tesla shareholders” related to Elon Musk’s acquisition of social media platform Twitter.
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Tesla Full Self-Driving (Supervised) has taken yet another significant step forward in Europe. On May 29, Estonia became the third European Union country to approve the advanced driver-assistance technology, following approvals in the Netherlands and Lithuania.
Tesla Europe announced the news on X, confirming the expansion has continued across the continent that, at one time, seemed to be taking its sweet old time giving any approval to the FSD suite.
FSD Supervised now approved in Estonia🇪🇪. Rollout will begin soon pic.twitter.com/y5a64qlp5m
— Tesla Europe, Middle East & Africa (@teslaeurope) May 29, 2026
Estonia’s Transport Administration (Transpordiamet) granted the approval by recognizing the type certification issued by the Dutch vehicle authority RDW. This mutual recognition mechanism, enabled by EU regulations, allows other member states to fast-track deployment without repeating extensive local testing.
The Estonian authority noted that Tesla’s FSD had undergone rigorous evaluation on European roads for approximately 18 months before the initial Dutch approval in April 2026.
FSD Supervised remains classified as a Level 2 advanced driver-assistance system (ADAS). Drivers must maintain full attention, keep their hands on the wheel, and stay ready to intervene at any moment.
The system assists with tasks such as automatic lane changes, navigation through city streets, and responding to traffic objects, but it does not constitute full autonomy. Estonian officials emphasized this distinction, underscoring that safety responsibility lies entirely with the driver.
The rapid progression across the Baltic region highlights Tesla’s strategic approach to European expansion. The Netherlands provided the foundational type approval in April, unlocking doors for neighboring countries.
Lithuania followed swiftly in mid-May, with rollout beginning shortly thereafter. Estonia’s decision, coming just days later, demonstrates how smaller, digitally progressive nations are accelerating adoption.
Tesla owners in Estonia can expect an over-the-air software update in the coming weeks, bringing the latest FSD capabilities to compatible vehicles
This expansion builds on Tesla’s global momentum. FSD Supervised is now available in 11 countries worldwide, including the United States, Canada, Australia, and South Korea. In Europe, the approvals signal growing regulatory confidence in Tesla’s vision-based AI approach, which relies on cameras and neural networks rather than lidar or radar-heavy alternatives used by some competitors.
For Tesla, these European milestones are more than symbolic. They validate years of data collection and software iteration while opening new revenue streams through FSD subscriptions and purchases.
As the company continues refining its AI models with real-world miles from diverse driving environments, including Estonia’s variable winter conditions, the dataset grows richer, potentially benefiting global users.
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
Tesla Full Self-Driving expansion in Europe continues with new addition
Elon Musk strikes down reports on SpaceX IPO rumors
