Top Tesla investor issues brutal ultimatum to Elon Musk amid major
stock plunge and boycott threats
A major Tesla investor made the stunning decision to call on Elon Musk
to step down as head of the company as its stock prices plunge amid a nationwide boycott.
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Gerber was one of the earliest investors of Musk's car company, and
his wealth management company now owns about 260,000 shares of Tesla
stock - worth around $105 million, according to LBC.
He is not the only one who has been offloading their Tesla stocks, as
ABC News reports that four top executives at the company have sold
over $100 million worth of shares since early February.
James Murdoch - the estranged son of Fox boss Rupert Murdoch - became
the latest to do so last week when he exercised a stock option and
sold shares worth approximately $13 million, a Securities and Exchange Commission filing shows.
The sale came on March 10 - coinciding with the stock's largest single
decline in five years.
Even Musk's own brother, Kimbal Musk - who sits on the board for Tesla
- unloaded 75,000 shares worth approximately $27 million last month
and Tesla Chief Financial Officer Vaibhav Taneja sold off shares
totaling more than $5 million in recent weeks
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'Whenever insiders, including directors, are selling shares, it's not
a positive signal,' Jay Ritter, a professor of finance at the
University of Florida, told the outlet.
https://www.dailymail.co.uk/news/article-14513255/Ross-Gerber-ultimatum-Elon-Musk-Tesla-CEO.html
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