Commerce Secretary Lutnick's On-Air Tesla Pitch Draws Ethics Complaints

On March 19-20, 2025, Commerce Secretary Howard Lutnick appeared on Fox News and urged viewers to buy Tesla stock, saying it would “never be this cheap again,” as shares slid amid backlash over Elon Musk's DOGE role. Lutnick's investment firm held roughly 740,000 Tesla shares and options at the time. Ethics watchdogs, including the Campaign Legal Center, said the remarks likely violated federal ethics rules barring officials from using their position to endorse specific securities. The incident mattered because a sitting cabinet official personally invested in a company publicly promoted its stock on television, blurring the line between personal financial interest and government office. A senator later called for an inspector general investigation into the remarks. The White House did not walk back Lutnick's comments, and no enforcement action against him has been publicly confirmed. The episode became a frequently cited example of blurred lines between administration officials' personal wealth and their public roles.