"Top Tesla investor issues brutal ultimatum to Elon Musk as boycott leads to major stock plunge
Ross Gerber, who owns an estimated $105 million in shares of Tesla stock, called on Elon Musk to step down as head of the company, saying that he 'destroyed' the company's reputation"
By Alana Loftus, Boston reporter
08:20 ET, MAR 19 2025
Updated10:58 ET, MAR 19 2025
https://www.irishstar.com/news/us-news/elon-musk-ultimatum-tesla-stock-34891042
Even if Musk steps down, he still holds a massive amount of shares. Thus he would still benefit from every car sold.
I am not buying anything where Musk could benefit even in the slightest.
Precisely, if this guy was serious he'd be telling Musk to close down DOGE and get out of government. That's why people are protesting, and at this point it doesn't matter if Tesla changes hands because it's not solely about Musk, it's about the obscenely rich in general and their attempt to set up an oligarchy.
Trump and Musk are not attempting to "set up" an oligarchy; Eisenhower warned of a growing military industrial complex, and the oligarchy entered full swing by shifting the tax burden from high earners first with the Revenue Act of 1964 (marking a sharp increase of the annual inflation rate to about 4%) and again under Reagan.
According to recent comments from an academic, Trump has recently turned the US away from democracy and into an "electoral autocracy":
"U.S. could lose democracy status, says global watchdog
Trump has escalated an authoritarian turn in last few days"
by Alexander Panetta, CBC News
Posted: Mar 18, 2025 1:06 PM PDT
Last Updated: March 18
https://www.cbc.ca/news/world/trump-democracy-report-1.7486317
Possibly defying a court order. Urging his Justice Department to prosecute nemeses. Repeatedly calling the media 'illegal.' Declaring a predecessor's pardon null and void. U.S. President Donald Trump has done these things in the past few days.
Just as John Schnatter going full proto-MAGA during the Pres. Obama years forever tainted Papa John's Pizza for all moral people Muskrat has forever polluted Tesla whether or not they have anything to do with the companies
@johnlogic It's the same guy they voted to give $56B to less than a year ago.
Last year there was $56B lying around the couch cushions in Tesla. And the shareholders stepped up and proclaimed "Tesla will be better off if we take that $56B out of the company, and put it in Musk's pocket."
Why the change of heart, shareholders? Didn't get a kickback from that $56B?
Tesla shareholders are voting to approve a $56 billion pay package for Elon Musk and to move the electric vehicle maker's legal home to Texas, the CEO said on social media on Wednesday, adding that passage was by wide margins.
@jhooper @johnlogic I looked up Gerber, and sure enough he was publicly against the pay package last year, even calling the board negligent.
So perhaps no-one's changed their minds, and maybe the shareholders will decide to pledge another $56B this year to fund ketamine and Diablo 4 hacks.
@johnlogic i hope that this will not be enough for people.
Even if he steps down, he will still benefit from the worth of Tesla stock.
@rasmus91 @johnlogic If he steps down, the most likely scenario is that the stock price will rise for a week, and then plummet for 4 months as whomever takes over wouldn't be able to bullshit like Musk.
The stock price wasn't much linked to the performance of the company, more the image of the company promising to do impossible things.
Excuse the world but the damage is done and this ASSET is forever tarnished, no coming back even if they give you a two-for-one deal on a new car, they are in their death throes...
@johnlogic Realizing that there’s arguments pro and con, I do think there’s value in this. In the US idiot tycoons like Trump and Musk have seized _our_ government and have caused immense pain and done damage that will take decades to clean up. If there’s no other way to get them then tear their companies down. There’s nothing sacred about obscene wealth.
I was watching a video about Trump’s machinations in the Atlantic City casino industry. He could have been stopped decades ago.
@johnlogic I suspect that it's actually too late for that. The brand is now indelibly soiled with the association.
Mr Gerber might have been better advised to keep quiet and try to realise his $105m before the share price falls further.
Musk has damaged the Tesla brand, perhaps irreparably. He promised full-self driving capabilities in the near future and didn't deliver. Under him, he removed the ability of existing cars to use their radars.
All Tesla customers and investors should sue Musk into oblivion through a giant class action case.
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