Musk says he 'can no longer support' Democrats

Tesla Inc CEO Elon Musk said that while he voted for Democrats in the past, he will now vote for Republicans.

"In the past I voted Democrat, because they were (mostly) the kindness party. But they have become the party of division & hate, so I can no longer support them and will vote Republican," he tweeted.

"Now, watch their dirty tricks campaign against me unfold," said Musk, the world's richest man, who has agreed to buy Twitter Inc.

The 50-year-old billionaire recently said he would reverse Twitter's ban on former U.S. President Donald Trump, a Republican, when he buys the social media platform. He also said Twitter is far-left-biased because it is headquartered in California, a state known for its progressive politics.

Tesla's stock fell 6.8% on Wednesday, after he announced his support for Republicans and Tesla was removed from a closely-watched sustainable index.

Musk has been a vocal critic of the Biden administration and Democrats for their proposals to tax billionaires and give more tax incentives to union-made electric vehicles. Tesla does not have unions at its U.S. factories.

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