Tesla Investor Ross Gerber Calls for Elon Musk’s Resignation Amidst Company Turmoil

In a significant development, Ross Gerber, a prominent investor and wealth manager with longstanding ties to Tesla, has publicly called for CEO Elon Musk to step down. Gerber cites Musk’s divided attention due to his political engagements and other ventures as factors adversely affecting Tesla’s performance.​Business Insider

Gerber’s Stance on Musk’s Leadership

In an interview with Sky News, Gerber expressed concerns over Musk’s focus, stating, “I think Tesla needs a new CEO.” He elaborated that Musk’s involvement in external projects, including his advisory role to President Trump, has led to a perception of him as a “divisive” figure, potentially harming Tesla’s reputation and sales. ​Sky Newsnews+2Sky News+2The Economic Times+2

Impact on Tesla’s Market Performance

Tesla’s stock has experienced a notable decline, with its market value plummeting by approximately $800 billion in recent months. This downturn coincides with Musk’s intensified political activities, leading to concerns among investors about the company’s direction and leadership. ​GB News

Boycott Threats and Public Sentiment

Musk’s political affiliations have sparked controversy, particularly in Western Europe, where Tesla’s sales have seen a sharp decline. In Germany, sales plummeted by 76% in February, attributed to Musk’s public support for the far-right Alternative for Germany (AfD) party during the general elections. This has led to calls for boycotts of Tesla vehicles among certain consumer groups. ​theimmigrantsjournal.com

Escalation of Protests and Vandalism

The “Tesla Takedown” movement has gained momentum, with protesters organizing demonstrations at Tesla showrooms worldwide. These protests, initially peaceful, have escalated to acts of vandalism, including arson and shootings targeting Tesla properties. The Department of Justice has labeled these incidents as “domestic terrorism,” with ongoing investigations to apprehend those responsible. ​theverge.comBusiness Insider+1AP News+1

Government and Public Response

Authorities, supported by the White House, are taking measures against the perpetrators, emphasizing that such acts are unacceptable. Despite the turmoil, some Tesla owners continue to support the brand, advocating for peaceful protest methods and expressing hope for resolution. ​AP News

Conclusion

Ross Gerber’s call for Elon Musk’s resignation highlights the internal and external challenges Tesla faces amid political controversies and market volatility. As the situation unfolds, stakeholders and consumers alike will be closely monitoring Tesla’s trajectory and leadership decisions in the coming months.​

For more insights, you can watch the following interview with Ross Gerber discussing his views on Elon Musk’s role at Tesla:

Sources