New Mexico State Investment Council rejects Steinborn’s call to divest from Musk firms
The leader of New Mexico's sovereign wealth fund on Monday rejected a state senator's call to divest from Elon Musk's companies, saying the New Mexico State Investment Council's Musk investments were minimal and divestment could violate its fiduciary duties. In an Oct. 22 letter, Sen. Jeff Steinborn, D-Las Cruces, urged the state agency to relinquish its holdings in Musk-linked investments following the technology mogul's decision earlier this month to disrupt Starlink internet service in Ukraine. "New Mexico should not profit from investments that help sustain Russia's war against Ukraine, nor should our public funds support corporate conduct that jeopardizes Ukraine's defense against that aggression," Steinborn wrote in the letter. State Investment Officer Jon Clark responded in a Monday letter, saying that eliminating the sovereign wealth fund's exposures to Musk would require the…