Investor elite in Tesla are urging Elon Musk to step down as CEO after a continuous drop in stock prices and ongoing lawsuits. One of these prominent investors is Ross Gerber, the president and CEO of the major investment management company Gerber Kawasaki Wealth & Investment Management. Gerber stated that Musk’s focus on DOGE or government efficiency may be causing neglect in other business areas. Musk’s public persona is now having a negative impact on the company.
The market value of Tesla has plummeted by over $800 billion or approximately 26.9 trillion baht. Additionally, the lawsuits and boycotts against the Tesla brand are widespread. The company is in a crisis (Is Musk oblivious to this?). The company’s reputation is currently being tarnished mainly due to Elon Musk.
Sales are down, reputation tarnished, and the company is unable to sell its best products.
What Musk should do now is to fully return as CEO of Tesla and let go of other commitments. If not, he should step down and find a more suitable CEO. As for the question of how to revive Tesla’s stock, Gerber simply stated that the answer is easy but hard to grasp – increase the company’s revenue.
In 2023, Gerber held 420,000 shares of Tesla worth $2 billion or approximately 6.7 trillion baht. By 2024, he reduced his stake by 31%, leaving him with 262,000 shares worth approximately $106 million or 3.574 billion baht.
In an interview, Gerber predicted a 50% drop in Tesla’s stock price by 2025, which is already down by 31% since then.
Gerber Kawasaki Wealth & Investment Management oversees assets worth $3 billion or approximately 1 trillion baht.
Sources: Unilad, CNBCTV, Bolnews, Business Insider
TLDR: Elite Tesla investors, including Ross Gerber, are calling for Elon Musk to step down as CEO due to stock price drops and ongoing controversies. Gerber suggests that Musk’s focus on other ventures is impacting Tesla negatively and advises on the need to increase company revenue for a stock price recovery.
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