Tesla investor Ross Gerber called for Elon Musk to step down as the company’s CEO as the company faces major boycott threats following controversial actions and statements by the multi-billionaire.
The big-shot investor also stated that Tesla was “absolutely in crisis” due to Musk’s actions, as per The Daily Beast.
Tesla is ‘absolutely in crisis’ says long-term Tesla investor Ross Gerber as stock prices and sales fall.
‘They have the best electric vehicles out there… the company’s reputation is just being destroyed by Elon Musk’ he tells Sky’s @darrenmccaffrey pic.twitter.com/JDnaSnEaH4
— Sky News (@SkyNews) March 18, 2025
Tesla investor Ross Gerber believes Elon Musk should either focus on Tesla or step down as CEO
During an interview on Sky News’ ‘Business Live’, Ross Gerber told host Darren McCaffrey, “I think Tesla needs a new CEO and I decided today I was going to start saying it and so this is the first show that I’m saying it on.”
He added, “It’s time for somebody to run Tesla” and noted that Musk is juggling too many responsibilities, including his work at X (formerly Twitter) and his involvement in President Donald Trump’s administration, per the outlet.
Gerber said, “There are too many important things Tesla is doing, so either Elon should come back to Tesla and be the CEO of Tesla and give up his other jobs, or he should focus on the government and keep doing what he is doing but find a suitable CEO of Tesla.”
Tesla CEO Elon Musk gestures while speaking during an inauguration event at Capital One Arena on January 20, 2025, in Washington, DC (Christopher Furlong/Getty Images)
He added that Tesla was “absolutely” in crisis after Musk’s controversial actions, listing out the company’s achievements in the electric vehicle (EV) space and how Musk has since worked overtime to destroy it.
The Tesla investor mentioned, “The company’s reputation has just been destroyed by Elon Musk. Sales are plummeting, so yeah, it’s a crisis. You literally can’t sell the best product in the marketplace because the CEO is so divisive.”
Gerber, who has been involved with the EV giant for more than a decade, revealed that he has been selling his shares since last year as “the way people view your brand is really, really crucial to part of the purchasing process that humans use.”
“We really identify with the cars we drive, especially in the United States, and so when your brand gets tarnished like this—it’s real bad,” he claimed.
Gerber further said that he started to become “concerned” as an investor when Musk first bought Twitter (currently X) in 2022 and didn’t know it “could go this far.”
President Donald Trump, accompanied by White House Senior Advisor and Tesla CEO Elon Musk, speaks next to a Tesla Model S on the South Lawn of the White House on March 11, 2025, in Washington, DC (Andrew Harnik/Getty Images)
Tesla’s shares have plummeted 53 percent from a record high reached in mid-December 2024, as reported by Business Insider.
The company has faced severe backlash and boycott threats as Musk, who leads the Department of Government Efficiency (DOGE), continues to promote controversial political views and government policies.
Elon Musk complains of ‘hate’ as Tesla stock slumps
Elon Musk took to X on Monday, March 17, to complain about the dropping share value of Tesla.
He wrote, “My companies make great products that people love and I’ve never physically hurt anyone. So why the hate and violence against me?”
“Because I am a deadly threat to the woke mind parasite and the humans it controls,” Musk argued.
My companies make great products that people love and I’ve never physically hurt anyone.
So why the hate and violence against me?
Because I am a deadly threat to the woke mind parasite and the humans it controls. https://t.co/qYjoKkpC63
— Elon Musk (@elonmusk) March 17, 2025
He made the post in reply to X user Insurrection Barbie’s post, which read, “The left cannot name one thing they hate Elon Musk for. They cannot name one thing he has taken away from them. Or one thing he has done to earn their insane ire. History will study this deranged cult like behavior.”
Tesla and SpaceX CEO Elon Musk delivers remarks as he joins President Donald Trump during an executive order signing in the Oval Office at the White House on February 11, 2025 (Andrew Harnik/Getty Images)
Notably, Musk has lost over $100 billion of his net worth this year as Tesla stock continues to plunge, according to Raw Story. His net worth currently stands at $328.5 billion, according to Forbes.
