Ross Gerber, who owns an estimated $105 million in shares of Tesla stock, called on Elon Musk to step down as head of the company, saying that he “destroyed” the company’s reputation
A major Tesla investor has called on Elon Musk to step down as head of the company as a nationwide boycott causes stock prices to plunge. It comes after the Tesla attacks were explained to ‘poor’ Musk by Jimmy Kimmel in a savage skit.
Ross Gerber claimed that the Space X CEO and head of the Department of Government Efficiency has “destroyed” the electric vehicle maker’s reputation from his work with the Trump administration, which comes amid cars being set on fire with Molotov cocktails and a man set fire to himself outside a charging station.
The investor told Sky Business Live yesterday, “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.”
‘It’s time for somebody to run Tesla,’ he added, saying that Musk has spread himself too thin while attempting to balance his work at DOGE and at X.
Gerber argued that Musk needed to be more selective with his time, saying, “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.”
The millionaire, who owns an estimated $105 million in Tesla shares, admitted that Tesla is “absolutely” in crisis. According to Business Insider, shares in the electric vehicle company plummeted 53 percent since reaching a record high in December, and its market value plunged by more than $800 billion during the same time period.
“The company’s reputation has just been destroyed by Elon Musk,” Gerber said. “Sales are plummeting, so yeah, it’s a crisis. You literally can’t sell the best product in the marketplace because the CEO is so divisive.”
Gerber, who was an early investor in Tesla, previously warned that if the company’s performance did not improve, he would leave. He noted to Sky Business that he has begun selling off some of his shares.
“The way people view your brand is really, really crucial to part of the purchasing process that humans use,” he said. “We really identify with the cars we drive, especially in the United States, and so when your brand gets tarnished like this – it’s real bad.”
ABC News reported recently that four top executives at the company have sold over $100 million worth of shares since early February.
During an interview with Fox News’ Sean Hannity on Tuesday, Musk claimed that his life was at risk over his role in the Trump administration.
He said during the interview “They basically want to kill me,” over the drastic and potentially illegal cuts DOGE has made to the federal government and workforce.
