I'm urging you to divest from Tesla stock immediately based on your fiduciary responsibility.

As of June 30, 2025, CalPERS and CalSTRS reported substantially more than $2 billion in holdings of Tesla stock combined. Tesla’s performance has deteriorated sharply—in Q1, 2025, earnings fell by 71% and auto revenue was down by 20%. Continuing to hold this stock is an avoidable risk to our retirement security.

Your fiduciary duty is to members, beneficiaries, and taxpayers—who will bear the burden of any shortfall in meeting pension obligations. Tesla’s financial instability, erratic leadership, and political volatility make continued investment increasingly risky. Immediate and decisive action is needed to protect our pension assets.

As stewards of public retirement funds, you also carry a moral responsibility to uphold the values of public service and democracy. Investing in a company that undermines labor rights and civil freedoms directly contradicts the mission of the public institutions we serve. Divesting from Tesla is both a financial imperative and a principled stand for the future we’re working so hard to build.

This moment demands decisive action.

I join the growing number of CalPERS/CalSTRS members and California taxpayers calling on you to immediately:

1. Divest from Tesla
2. Cease any future investment in Tesla

Our pensions—and your integrity as fiduciaries—are on the line.

Act now to protect our future.