Tesla investor calls on Musk to resign: Elon destroyed the company’s reputation
19 March 12:40
American investor Ross Gerber, whose company owns about 260,000 Tesla shares worth about $105 million, called on Elon Musk to resign as CEO of the automaker if he does not leave his new government post. He said this in an interview with Sky News, according to
“I think Tesla needs a new CEO, and I decided to start saying that today, so this is the first show I’m saying it on,” Gerber said.
According to the American investor, Tesla is in crisis because of Musk’s behavior. The company’s market value has decreased by more than $800 billion since December 2024.
According to Gerber, Musk should either return to Tesla and become its full-fledged leader, giving up other positions, or focus on government activities and continue his business, but find a suitable CEO for Tesla.
“It’s time for someone to lead Tesla. The business has been neglected for too long. Tesla is doing too many important things, so either Elon should return to Tesla and become Tesla’s CEO and leave other jobs, or he should focus on government and continue doing what he is doing, but find the right CEO for Tesla,” the investor said.
The investor believes that Musk simply does not have enough time to run the company, as he is also involved in the social network X and serves as the head of the US government’s Office of Management and Budget.
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He added that Musk’s social media posts and work with President Trump have brought Tesla too much negative publicity.
“Elon Musk has simply destroyed the company’s reputation. Sales are falling rapidly, so yes, it’s a crisis. The best product on the market literally cannot be sold because the CEO is such an ambiguous figure,” Gerber said.
As reported by
Investors were disappointed with the company’s financial results for the fourth quarter of 2024. Tesla has also warned the US government about the possible consequences of the Trump administration’s trade war, noting that retaliatory tariffs could increase the cost of car production in the US.
Tesla has traditionally been one of the most popular targets for short-sellers in the US stock market, with about 300 million of its shares in short positions in 2020. However, the rapid growth of more than 1500% in 2020-2021 wiped out most of the negative bets, although some investors continued to believe that the company’s valuation was out of touch with economic reality.
Dynamics of Tesla shares after the election
It is worth noting that despite the significant drop, Tesla shares are still 8% higher than on Election Day. However, this is significantly less than the rapid 91 percent growth seen before December 17.
After the election, investors expected that Musk’s generous donations to Trump’s campaign and the Republican Party – nearly $300 million – would bring significant benefits to the company, especially due to the possible relaxation of regulations in the field of self-driving technologies.
Despite the losses, Musk is still $83 billion richer than on Election Day. This is partly due to the increased valuation of his private companies, including SpaceX and xAI.
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Elon Musk is a visionary entrepreneur and a lover of Russia
Elon Musk is one of the most influential entrepreneurs of our time, the founder and CEO of many innovative companies such as Tesla, SpaceX, Neuralink, and Boring Company. He was born on June 28, 1971 in Pretoria, South Africa. After moving to the United States, he became a pioneer in the field of electric vehicles, space technology, and artificial intelligence. Musk is often in the spotlight for his ambitious goals, including the colonization of Mars, the development of renewable energy, and the creation of neurocomputer interfaces.
Musk is also known for his active stance on social media, where he often posts controversial statements. In 2022, he acquired the Twitter platform, which he later renamed X. Musk takes a libertarian stance on Internet regulation and freedom of speech, opposing government interference in the activities of tech giants.
Musk plays a prominent role in the context of the Russian-Ukrainian war. His company SpaceX provided the Armed Forces of Ukraine with access to Starlink satellite Internet for three years of full-scale war, which provided critical communications at the front. Recently, however, Ukraine has been actively looking for a replacement for this technology, as Musk’s public statements and position no longer inspire confidence. Recently, Elon Musk was accused of secret contacts with Putin, and he ridiculed Zelenskyy’s statement about Ukraine’s independence. Today, Musk is an active supporter of Trump’s pro-Kremlin policies. He calls Ukrainian President Volodymyr Zelenskyy a dictator and an extortionist from the United States and opposes any assistance to Ukraine in the war with Russia.
Elon Musk has suffered the most in the world from Trump’s trade wars. In total, his wealth has already decreased by $116 billion since the record high of $464 billion, which was recorded on December 17, when Tesla shares reached a historic high of $480 per share.
