There goes another one. Antonio Gracias—Elon Musk lieutenant, private-equity billionaire, and until this month a senior hand at the Department of Government Efficiency (DOGE)—has quietly resigned. It comes after teachers’ union boss Randi Weingarten demanded to know why a man managing almost $2 billion in pension funds from nine states was moonlighting as a government “efficiency” czar. According to a report by NBC News, Weingarten warned the investment vehicles that Valor Equity—Gracias’ $17.5 billion company—“appears to be engaged in alternative pursuits” that could jeopardize returns. Valor confirmed Gracias—who was instrumental in taking Tesla public, with Forbes saying his Tesla holdings make up the bulk of his $2.3 billion fortune—had “remained actively involved” in its investments even while he attacked Social Security and hyped “voter-fraud” referrals from inside DOGE. After Gracias’ July 1 exit, Weingarten said it was “disappointing” it had taken investor letters to “flush out the truth.” The funds, one of which was charged more than $8 million in fees last year alone, say they’re now weighing whether to stick with Musk’s man. Gracias’ departure is just the latest among fellow Musk allies: Steve Davis, Nicole Hollander, Katie Miller, and DOGE general counsel James Burnham also slipped out the door after the Tesla and SpaceX CEO’s own May departure.
Read it at NBC News
