Ross Gerber Says Elon Musk Is 'Blackmailing' Investors By Seeking To Boost Stake: 'He Controls Tesla More Than Anybody Controls Any Company'
Portfolio Pulse from Benzinga Neuro
Ross Gerber, a long-time Tesla supporter, has accused Elon Musk of 'blackmailing' Tesla investors by suggesting he would only develop robotics and AI projects if his stake in Tesla (NASDAQ: TSLA) is increased to at least 25%. Gerber criticizes Musk's control over Tesla, highlighting the board's composition of Musk's friends and family. He also questions Musk's request for more control, given his already significant ownership and compensation for his role.
January 18, 2024 | 5:30 am
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NEGATIVE IMPACT
Elon Musk's suggestion to increase his stake in Tesla to at least 25% for AI/robotics projects development, as criticized by Ross Gerber, could create uncertainty among investors and potentially affect Tesla's stock price.
Musk's comments about increasing his stake could be perceived as a power move that may not align with shareholder interests, leading to potential short-term negative sentiment among investors. Gerber's criticism, given his status as a long-time Tesla bull, adds weight to these concerns and could influence market perception.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90