Renowned Tesla supporter and CEO of Gerber Kawasaki Wealth & Investment Management, Ross Gerber, is reevaluating his stance on Elon Musk’s leadership at the electric car company.
Gerber, an ardent advocate for Tesla, now expresses concerns about Musk’s recent actions. Despite not officially stepping down, Gerber contends that Musk has essentially “already stepped aside” as the CEO of Tesla. His concerns stem from Musk’s continual comments and engagement on the X platform, which he views as indicative of Musk’s disengagement with Tesla.
In an interview with CNBC’s “Last Call,” Gerber stated that Musk’s recent actions are not in Tesla’s best interest. While Gerber is not planning to sell his significant Tesla stock, clients are increasingly demanding divestment due to Musk’s behavior, which Gerber characterizes as detrimental to the Tesla brand.
Musk’s controversial statements on the X platform, including responding positively to an antisemitic comment, have triggered widespread criticism. Musk’s endorsement of antisemitic remarks and his views on historical issues like slavery have sparked backlash from tech executives and advertisers.
In response to Musk’s comments, IBM reportedly pulled around $1 million in ad spending on the X platform, citing a “zero tolerance for hate speech and discrimination.” Other tech executives, including Facebook co-founder Dustin Moskovitz, have called for Musk’s resignation, highlighting concerns about his statements.
Despite Musk’s previous denial of antisemitism and his claim of being “aspirational Jewish,” his recent actions have fueled controversy. Musk’s conflicts with the Anti-Defamation League (ADL) and threats of legal action after the organization documented hate speech on X further contribute to the unfolding situation.
In response to Musk’s actions, Ross Gerber announced on X his intention to switch from his Tesla Model Y to a Rivian. Due to Musk’s statements, Gerber’s decision reflects a growing disillusionment among some Tesla supporters.
Musk faces increasing scrutiny over his leadership and controversial remarks, but the repercussions on Tesla’s reputation and stakeholder trust remain uncertain. The unfolding events underscore the challenges associated with the intersection of personal behavior, corporate leadership, and brand integrity.