KoGuan Leo, Tesla’s third-largest shareholder and self-professed Elon Musk fanboy is calling for Musk to step down as CEO, stating that he has “abandoned Tesla” and the company has “no working CEO.”
Futurism reports that KoGuan Leo, Tesla’s third-largest shareholder and a self-professed Elon Musk “fanboy,” is calling to remove Musk as CEO of Tesla. In a tweet, Leo stated that Musk has “abandoned Tesla and Tesla has no working CEO.”
In another tweet, Leo stated that “Elon was the proud father, Tesla has grown up. An executioner, Tim Cook-like is needed, not Elon.”
Elon abandoned Tesla and Tesla has no working CEO
Tesla needs and deserves to have working full time CEO
What Tesla BOD should do, do nothing? Elon will find his own successor under BOD independent supervision https://t.co/AJSvij9ncP
— KoGuan Leo (@KoguanLeo) December 14, 2022
Leo owned roughly $3.4 billion worth of Tesla shares as of August, making him the third largest shareholder at the company just behind Musk and Oracle founder Larry Ellison. Leo does not appear to be the only high-profile Tesla investor who is unimpressed with Musk’s Twitter drama and believes he is spending too much time focusing on the social media firm. This controversy also comes shortly after Musk himself sold another $3.5 billion in Tesla shares.
Gary Black, a hedge fund manager who owns around $50 million worth Tesla stock and has been a prominent supporter of Musk and Tesla, recently tweeted: “There is no Tesla CEO today,” as Tesla stock price continues to drop.
There is no TSLA CEO today
— Gary Black (@garyblack00) December 12, 2022
The same day, Black tweeted that Tesla’s brand has been negatively impacted by Twitter drama:
My 2 cents: The market voted today that the $TSLA brand has been negatively impacted by the Twitter drama. Where before EV buyers were proud to drive their Teslas to their friends or show off Teslas in their driveways, now the Twitter controversy is hurting Tesla’s brand equity.
— Gary Black (@garyblack00) December 12, 2022
Musk attempted to downplay Tesla losing $600 billion in valuation in recent months, claiming that Tesla is “executing better than ever” and that the company doesn’t “control the Federal Reserve. That is the real problem here.” Black was unconvinced and disagreed with Musk noting that Tesla shares are down 33 percent since Musk’s Twitter takeover:
Respectfully Elon, long-term int rates drive TSLA’s stock price, not the Fed funds rate controlled by the Fed. Since you closed the TWTR deal on 10/27, $TSLA -33%, NDX is flat. If it was the Fed, all NDX stocks would be down. Since 10/27, 10yrTY have DROPPED from 3.92% to 3.48%. pic.twitter.com/xqe8q0DrR0
— Gary Black (@garyblack00) December 16, 2022
Read more at Futurism here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan
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