A prominent shareholder of Tesla has called for the board to oust CEO Elon Musk in light of the massive drop in value the car company has suffered the past month due to protests over the tech giant’s outspoken role in the Trump administration.
Shares of Tesla have dropped 35% in the early months of 2025 leading Ross Gerber, the CEO of Gerber Kawasaki Wealth and Investment Management, to publicly call for Musk’s removal. Gerber owns more than 250,000 shares of Tesla stock which was valued at over $428 a share in early January and closed at $240 a share on Friday. Speaking exclusively to Newsweek on Saturday, Gerber responded “absolutely” when asked if the board should seek Musk’s removal.
“Why has the board of directors sat quietly while so much brand value has been eroded to the point that cars are being set on fire?” he said. “It’s been wildly negligent that the board has done nothing to curb Elon’s behavior, especially around extremist statements.”
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