Large turnout of public commenters urge CalPERS to divest Tesla holdings over safety, governance and political concerns

Dozens of CalPERS members, retirees and advocacy groups urged the investment committee to divest Tesla holdings during an extended public‑comment period on March 12.

Speakers from organized groups and union allies argued the company's valuation and operations present outsized financial and reputational risk to the pension fund. "Sell Tesla, all of it, now," said Ruth Rudetsky, a retired teacher, summing up several speakers' appeals that the board act swiftly.

Technical and safety critiques were offered alongside governance and political arguments. Bob Summers, an engineer who has worked in autonomous‑vehicle development, told trustees that "Tesla autopilot, full self driving, and the robotaxi systems are not safe" and cited court rulings and NHTSA investigations as evidence. Other speakers described falling sales, executive departures and concerns about related business ventures (including loans to or investments in other Musk‑led ventures) as reasons the fund should exit the position.

Organized activists described a persistent protest campaign called 'Tesla Takedown' with weekly demonstrations in multiple cities and briefing packets presented to trustees. Speakers said the group's activity has already damaged Tesla's brand and commercial prospects and warned that continued exposure could put beneficiaries' assets at risk.

Trustees and staff acknowledged the public testimony and reminded speakers that investment deliberations about specific holdings may proceed in closed session because of market sensitivity. Staff reported they had requested and will provide a staff report on Tesla as part of a closed‑session discussion later in the meeting.