2023-11-18 09:56:00
Elon Musk’s head is at stake. After anti-Semitic behavior, major Tesla investors are calling for Elon Musk to be sidelined for a few months, or worse, for him to be deposed as the company’s CEO.
Communications from investors began to emerge from posts by the billionaire on his own social network, X (formerly Twitter). Musk endorsed a post that claimed that the American Jewish community instilled “hatred against white people”, and went on to attack the Anti-Defamation League (ADL) – a civil rights group that is against anti-Semitism.
In addition to the positioning on the part of investors, the same behavior generated a stampede in the group of X advertisers. Apple and IBM are among the companies that stopped on the platform; with Maçã being one of the most important advertisers for the social network.
In the opinion of Dustin Moskovitz, co-founder of Facebook, in a post on his Threads account, Musk should resign from all his companies.
Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, which owns 400,000 Tesla shares, says Musk’s actions are outrageous and that his behavior causes damage to the brand. “I’ve never had this with any company I’ve ever invested in in my life.”
Other important investors in the electric car company, such as Jerry Braakman and Kristin Hull, who together accumulate more than $250,000 in Tesla shares, say there is no excuse for the spread of hate by any CEO of any publicly traded company. .
Braakman claims that “Tesla’s board of directors should put him on leave for a month or two.” Hull, on the other hand, is more incisive and states that there should be censorship on the part of the board, with “demotion, reassignment, suspension or even dismissal”. For the investor, the lack of more serious punitive actions by the board worries her.
Even the White House issued a statement condemning Elon Musk’s actions: “Anti-Semitic and racist hatred”.
Despite Elon Musk’s position and the growing complaints from Tesla investors about the CEO’s behavior, the company’s shares did not lose value. Still taking into account the controversies, the company’s shares rose by approximately 10% in the last week.
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