In the latest interview with Sky’s Business Live, investor Ross Gerber called for Elon Musk to step down after Tesla’s $800 billion stock drop.
Elon Musk faces criticism amid tesla stock collapse
A major Tesla investor has urged Elon Musk to step down as CEO. This call comes after Tesla’s stock value dropped by over $800 billion since December.
Ross Gerber, one of Tesla’s earliest investors, publicly criticized Musk’s leadership.
He blamed Musk’s focus on politics and other ventures for Tesla’s struggles.
Ross Gerber claims musk has neglected Tesla
Gerber accused Musk of prioritizing his role in the Department of Government Efficiency (DOGE) under Donald Trump’s administration.
While, he believes Musk has been too distracted by politics and social media.
‘I think Tesla needs a new CEO and I decided today I was going to start saying it, and so this is the first show that I’m saying it on,’ Gerber said in an interview on Sky’s Business Live.
Additionally, he also argued that ElonMusk must either return to Tesla full-time or appoint a new CEO.
He added that Tesla is in crisis due to declining sales and a damaged reputation.
Tesla stock plummets as controversy grows
Tesla’s stock price has dropped 53% since December. The company’s market value has plunged by more than $800 billion.
Gerber warned that Musk’s public image is harming Tesla’s brand.
“You can’t sell the best product if the CEO is so divisive,” he said.
He also revealed that he has begun selling off some of his Tesla shares.
While, he emphasized that public perception plays a crucial role in consumer purchasing decisions.
Musk’s political involvement raises concerns
Gerber’s concerns intensified after Musk purchased X in 2022. Since then, Musk has become a highly polarizing public figure.
He wrote on X, ‘There are too many important things Tesla’s 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 is doing, but find a suitable CEO of Tesla.’
Additionally, Gerber also said he didn’t expect things to “go this far.”
He now believes Tesla needs a leader focused entirely on the company’s future.
Despite the strong criticism, Musk has yet to respond to Gerber’s statements.
Tesla continues to face backlash, with boycotts and protests affecting sales. Investors are now watching closely to see how Musk will address the crisis.
Will Musk step down, or will he attempt to restore Tesla’s reputation? The future of the company remains uncertain.