Ross Gerber, the president and CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla Inc TSLA bull and investor, said on Thursday that he would replace his Model Y for a Rivian vehicle next year, after Tesla CEO Elon Musk backed an antisemitic claim.
What Happened: “Sadly, this is a win for Rivian… I will be replacing my Tesla model Y for a Rivian next year and I’m sure the rest of LA will as well,” Gerber wrote on X, formerly Twitter.
The decision came on the heels of Musk backing a post on X that Jewish communities are pushing hatred against whites.
“You have said the actual truth,” Musk wrote on X. He was responding to a post that read, “I’m deeply disinterested in giving the tiniest shit now about western Jewish populations coming to the disturbing realization that those hordes of minorities that support flooding their country don’t exactly like them too much.”
“It takes a lifetime to build a reputation, and a day to lose it,” Kawasaki noted in another post.
Why It Matters: Musk on Wednesday also alleged that the Anti -Defamation League, a Jewish advocacy group and NGO, ‘unjustly attacks the majority of the west.’
ADL and Musk have previously too come out against one another after the group claimed that X is allowing antisemitism to spread. Musk in return accused the organization of being responsible for drop in advertising on X.
In an interview on CNBC on Thursday, Gerber said “I’ve never had this with any company I’ve ever invested in ever in my life where the CEO of the company himself does so many detrimental things that is destroying the brand.” Gerber further termed Musk’s behavior as ‘outrageous’ while adding that the billionaire is not acting as the CEO of Tesla.
Gerber’s Advisor Shares Gerber Kawasaki ETF, an exchange-traded fund, has Tesla amongst its top five holdings. It holds 4,544 Tesla shares, which account for about 6.06% of the portfolio weighting.
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