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Educators and retirees urge CalSTRS to divest from Tesla and companies tied to weapons, surveillance and Israel bonds
Summary
About 20 public speakers at the May 2025 CalSTRS Investment Committee meeting pressed the board to sell Tesla shares and to divest from manufacturers and technology firms they say enable human-rights abuses, and asked the fund to stop buying Israeli government bonds.
Dozens of teachers, retired educators and union representatives told the California State Teachers’ Retirement System (CalSTRS) Investment Committee during public comment that the fund should divest from Tesla and from companies they say enable human-rights violations in Gaza and the occupied territories.
Speakers named several corporations they said should be divested, including Caterpillar, Elbit Systems, Palantir Technologies, Maersk and Israeli government bonds; many called for CalSTRS to adopt an “ethical investment policy” and to accelerate divestment when engagement fails. Ruth Riedetzky, a retired San Francisco teacher, said CalSTRS holds “over a billion dollars in Tesla stock” and urged the system to sell, calling Tesla closely tied to Elon Musk and his public conduct.
Other commenters framed the demand as both ethical and financial. Edward Hasbrook, whose remarks repeated at multiple meetings, described Tesla as “a meme stock” and told the committee “continuing to hold Tesla stock is as financially ill advised as it is politically ill advised.” Andrea Pritchett, speaking for the CalSTRS Divest campaign, asked the board to divest from “publicly traded companies that consistently, knowingly, and directly facilitate or enable human-rights violations and violations of international law.”
Several speakers focused on weapons and surveillance companies. Laurie Wager and others listed Caterpillar, Elbit and Palantir and cited reports from Human Rights Watch and Amnesty International alleging the equipment and software were used against civilians. Jason Newman, president of the Los Rios College Federation of Teachers, said faculty unions have passed resolutions urging CalSTRS to divest from companies that “aid in the Israeli occupations of Palestine and illegal settlements.”
Labor and corporate-governance concerns also surfaced. Jared DB Beagle of the United Food and Commercial Workers pointed to alleged labor rights problems at Heritage Grocers (part of Apollo Fund 9) and asked CalSTRS to weigh those risks before new allocations to Apollo. A speaker identifying herself as Josea, a former Tony’s Fresh Market worker, recounted workplace harassment and alleged retaliation tied to union organizing.
CalSTRS staff and the board did not take action during public comment. Chairperson Keely and staff thanked speakers and said staff would be accessible for follow-up; Keely also reminded the room that decisions require legal and financial review and that “these decisions don’t happen overnight.”
