Elon Musk facing backlash from once-loyal investors

SOURCE www.forbes.com
Investors who were once fans of Elon Musk are now turning against him due to his controversial behavior and focus on other endeavors besides Tesla. A looming shareholder vote to restore a pay package worth around $50 billion for Musk has sparked criticism and opposition from investors, including Gerber Kawasaki CEO Ross Gerber.

Key Points

  • Investors like Ross Gerber and Leo Koguan are publicly opposing Musk's actions and the Tesla board's recommendations
  • Concerns over Musk's focus on other endeavors like X/Twitter and xAI instead of Tesla
  • Institutional investors voting against compensation proposal due to Musk's behavior and business judgment
  • Decline in Tesla's brand image and performance attributed to Musk's controversial behavior

Cons

  • Controversial behavior and focus on other endeavors besides Tesla
  • Opposition from once-loyal investors
  • Looming shareholder vote to restore a pay package worth around $50 billion for Musk