Tens of millions of Americans have stock in the company, either directly or via their 401(K) or other retirement accounts. So the share price decline hits them badly.
Read more: https://www.dailymail.co.uk/yourmoney/article-14516319/tim-walz-gloats-tesla-company-stock-declines.html?ns_mchannel=rss&ns_campaign=1490&ito=1490