Tesla shareholders demand the removal of Elon Musk

Tesla shareholders demand the removal of Elon Musk

Elon Musk

Tesla (NASDAQ:TSLA) shareholders have voiced significant concerns over Elon Musk’s alleged antisemitic remarks made on his social media platform, X, and other outlets.

A recent Bloomberg report highlights calls from some investors for Musk’s suspension.

Jerry Braakman, chief investment officer at First American Trust, holding approximately 16,000 Tesla shares, criticised Musk’s actions, advocating for a temporary leave.

Musk’s endorsement of a tweet accusing Jewish communities of fostering “hatred against whites” has sparked outrage.

He further attacked the anti-defamation league, a group opposing antisemitism.

Despite investor discontent, Tesla’s stock rose by 10% this week, indicating a complex investor reaction to the controversy.

Backlash from shareholders

Kristin Hull, CEO of Nia Impact Capital, expressed dismay at the lack of stringent measures from Tesla’s board.

Nia Impact Capital, a social-impact fund owning $US282,000 in Tesla stock, suggested punitive actions including censure or suspension.

Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, owning 400,000 Tesla shares, condemned Musk’s conduct and its impact on Tesla’s brand.

He announced plans to replace his Tesla with a Rivian vehicle next year.

The tech industry has also responded. Facebook (NASDAQ:META) co-founder Dustin Moskovitz called for Musk’s resignation from his companies, while IBM (NYSE:IBM) withdrew advertising from the platform following Nazi content exposure.

White House condemns

The White House, through spokeserson Andrew Bates, condemned Musk’s actions, particularly in the context of recent tragic events impacting the Jewish community.

Bates referenced the October 7 Hamas attack on Israel, the deadliest day for Jewish people since the Holocaust.

This situation reflects a growing concern among Tesla investors and the broader tech community regarding Musk’s public conduct and its ramifications for corporate responsibility and social ethics.

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