One of Tesla’s top investors is calling for Elon Musk to step down as CEO after the company’s market value plummeted by more than $800 billion since December. Ross Gerber, an early Tesla investor, criticized Musk for being too distracted by his political involvement, particularly his work with the Trump administration’s Department of Government Efficiency (DOGE). He argued that Musk’s controversial public image has hurt Tesla’s reputation and contributed to declining sales.
Gerber stated that Tesla is now in a crisis, with consumer boycotts and declining demand impacting the company’s bottom line. Speaking on Sky News, he said, “The company’s reputation has just been destroyed by Elon Musk… You literally can’t sell the best product in the marketplace because the CEO is so divisive.” He called for Musk to either return full-time to Tesla or step aside and allow someone else to take over leadership.
Musk has not yet responded publicly to Gerber’s remarks, and Tesla has not issued an official statement. The company has faced multiple challenges in recent months, including quality control issues with the Cybertruck and increasing competition in the electric vehicle market. With Tesla’s stock struggling, pressure is mounting on Musk to refocus or hand over the reins.
For now, the future of Musk’s leadership remains uncertain. Investors will be watching closely to see whether he chooses to double down on Tesla or continue his growing political involvement—both of which could shape the company’s direction in the coming months.
