Prominent Tesla investor wants Elon Musk to step down: “It’s time for somebody to run Tesla”
Wealth manager Ross Gerber says Musk has too many time commitments.
“I think Tesla needs a new CEO,” wealth manager and Tesla investor Ross Gerber told Sky News, citing Elon Musk’s many other time commitments, including his “divisive” work with President Donald Trump in the Department of Government Efficiency.
“There’s no question he’s been committed to his job at the government. That’s where he’s been spending his time. He is not running Tesla... it’s time for somebody to run Tesla. The business has been neglected for too long. There’s too many important things Tesla is doing, so either Elon should come back to Tesla and be the CEO of Tesla and give up his other jobs or he should focus on the government and keep doing what he’s doing but find a suitable CEO of Tesla.”
Gerber is the latest in a long line of people sounding the alarm as the company struggles with sales and has erased its postelection stock price gains.
Last week, even longtime Tesla bull Dan Ives began changing his tune regarding how Musk spends his time.
“In a nutshell the word ‘balance’ has been missing with Elon Musk and his ability to run Tesla as CEO... while instead focusing all of his energy and time driving his DOGE initiative within the Trump Administration... There has been little to no sign of Musk at any Tesla factory or manufacturing facility the last two months and perception has become reality for Tesla shares.”
Of course, this has long been an issue, but one investors didn’t harp on as much when the company was doing well. Indeed, Tesla’s annual reports have long listed Musk’s numerous commitments as a risk factor for the company. The latest:
“We are highly dependent on the services of Elon Musk, Technoking of Tesla and our Chief Executive Officer. Although Mr. Musk spends significant time with Tesla and is highly active in our management, he does not devote his full time and attention to Tesla. For example: Mr. Musk also currently holds management positions at Space Exploration Technologies Corp., X Corp., X.AI Corp., Neuralink Corp. and The Boring Company, and is involved in other ventures and with the Department of Government Efficiency.”
That doesn’t even mention his other extracurriculars like:
Building multiple company towns.
Pretending to be top gamer in “Diablo IV,” something gamers say would’ve required him to play “all day, every day.”
Tweeting nonstop since he acquired Twitter, now X, in 2022.
Fathering at least 12 children and urging others to “have many more children.”
But as Tesla continues to struggle and account for less of Musk’s net worth, criticisms from investors and analysts will only get louder.
