On Thursday, Ross Gerber, CEO and President of Gerber Kawasaki Wealth & Investment Management, stated that Musk has ceased acting as Tesla’s head. He associated this change with Musk’s promotion of an anti-semitic comment on X, formerly known as Twitter.
What Happened: Talking to CNBC, Gerber, who holds approximately 420,000 shares in Tesla Inc. TSLA, expressed concern over Musk’s recent activities on X, including his reaction to an antisemitic comment. He claimed that these actions are not in Tesla’s best interest and are, in fact, tarnishing the brand.
“He is not acting as the CEO of Tesla right now,” Gerber said.
He further added, “I’ve never had this with any company I’ve invested in my entire life, where the CEO does so many detrimental things that destroy the brand, because the bottom line that’s what’s happening. It’s absolutely outrageous, his behaviors and the damage he’s caused to the brand.”
See Also: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Despite Gerber’s criticisms, he has no plans to divest his Tesla shares. However, he noted increased requests from clients to sell their stakes in the company.
Musk’s contentious comments on X have drawn criticism from tech executives and resulted in IBM halting its adverts on the platform.
Why It Matters: Elon Musk has been under scrutiny for his controversial endorsement of an antisemitic post on X. Facebook co-founder and Asana CEO, Dustin Moskovitz, called for Musk’s resignation from all his roles, including that of Tesla’s CEO. This was in response to Musk’s endorsement of a post promoting the “great replacement theory,” a discredited theory often used against Jewish supporters of immigration. This controversy has led to a backlash from investors and tech executives alike, with some considering divesting their shares in Tesla.
Image via Shutterstock
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
