Prominent Tesla Inc. TSLA investor Ross Gerber has publicly criticized Tesla Board Chair Robyn Denholm, accusing her of neglecting shareholder interests while amassing substantial personal wealth from her position.
What Happened: Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, wrote on X Monday: “Robyn Denholm is the woman paid off to do NOTHING to protect the 83% of Tesla investors she is negligently representing. She only represents one shareholder, Musk.”
His comments came in response to a Reuters report revealing Denholm’s compensation since joining the board in 2014 has totaled approximately $682 million in cash and stock. According to the analysis, she has already sold about $532 million worth of Tesla stock.
Reuters described the 61-year-old former accountant as “the chief defender” of CEO Elon Musk‘s controversial $56 billion pay package, which has faced legal challenges.
Gerber’s criticism comes amid broader tensions surrounding Tesla. The company faces mounting protests at showrooms nationwide, triggered by Musk’s role in President Donald Trump‘s Department of Government Efficiency (DOGE) and his political activities. Gerber himself recently shared footage of protesters outside a Tesla store in Santa Monica, concluding with his 9-year-old child saying, “I’m glad we don’t have a Tesla.”
Why It Matters: Despite being a long-term investor, Gerber has grown increasingly critical of Tesla, recently stating the shares remain overvalued even after plunging nearly 50% since mid-December. “There’s this game that is happening now where the fundamental story has to be revalued,” Gerber said, noting Tesla’s forward price-to-earnings ratio remains more than triple the S&P 500 average.
The criticism extends beyond Gerber. Wedbush Securities analyst Dan Ives recently remarked that “Tesla investors are seeing patience wear thin” regarding Musk’s divided attention, noting there has been “little to no sign of Musk at any Tesla factory or manufacturing facility in the last two months.”
Tesla reported its first-ever annual sales decline in 2024, though Musk pledged Tuesday that Tesla would double its U.S. vehicle production over the next two years.
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