Tesla CEO Elon Musk didn't appear to like Wedbush analyst Dan Ives' suggestion that the company should rein in Musk's time spent on politics.

When the Wedbush tech analyst lobbied Tesla's board to form a special board oversight committee, the CEO's response was as immediate as it was dismissive.

Elon Musk's net worth has taken a $15.3 billion hit after the Tesla CEO announced he was to form a new political party. The news sent ripples through financial markets and spooked investors concerned about Musk's political ambitions and possible implications for Tesla's brand and business operations.

Mr. Musk’s involvement in politics and his financial support for the president’s campaign were once seen by investors as a benefit to Tesla, fueling a steep rise in company shares after the election last year. That association has now turned into a liability. Tesla shares are down 40 percent from their peak in December.