Tesla's Third Largest Shareholder Calls For the Ouster of Elon Musk as CEO

[brooklynite]

Source: The Observer

KoGuan Leo, an Indonesian billionaire and the third-largest individual shareholder of Tesla, is calling for the electric carmaker’s CEO, Elon Musk, to step down as much of his attention is focused on Twitter lately.

“Elon abandoned Tesla and Tesla has no working CEO,” Leo tweeted on Dec. 14. “Tesla needs and deserves to have working full-time CEO.”

Leo proposed Tesla’s board of directors appoint a professional manager, someone similar to Apple CEO Tim Cook, as Musk’s replacement.

“Tesla is 19 years old, ranked 4th with 2.4 percent allocation in S&P,” he said in another tweet. “Elon was the proud father, Tesla has grown up. An executioner, Tim Cook-like is needed, not Elon.”

Read more: https://observer.com/2022/12/koguan-leo-tesla-shareholder-oust-elon-musk/

[FredGarvin]

1. Up 400% from 3 years ago

Isnt that enough?

[Warpy]

2. They congratulate themselves on being smart when the stock's going up

and look for somebody to blame if it starts to go down, no matter how much paper profit they still have.

That's the problem with exposing yourself as the average RWNJ new convert: petty, spiteful, mean spirited, and vengeful, all of which he's acting out over at Twitter.

That's got people at all his companies spooked and especially the BODs and shareholders.

It might be unfair, but the contagion is spreading. Elon needs an intervention or the fall will be downright Shakespearean.

[FredGarvin]

3. I have to admit that TSLA looked legit

Got stung badly on that one

[SouthernDem4ever]

15. And he doesn't have enough money to take Tesla private

Even though that would be his dream to shut up his detractors. He just loves owning twitter outright with no one to answer to.

[Bucky]

16. It's down 60% from January. It's down 30% from October.

Dumping Musk would be a great first step in restoring their market price. He's acting like Putin, persisting in a horrible strategy that leads to organizational catastrophe, win any reasonable adult would know exactly how to shape up and turn it around.

[uncle ray]

11. depends on if one bought 3 years ago or 1 year ago.

TSLA has not exactly been on the way to the moon this year.

[Yavin4]

4. Tesla's stock was doomed as soon as all other major automakers committed to EVs.

Their stock price reflected their first in the market position similar to Netflix which will share the same fate. With competition, they will whither slowly away.

Musk knows this and that's one of the reasons why he jumped on Twitter.

[FredGarvin]

5. Not true

TSLA leads the EV marketplace in technology and continues to dominate its competitors in sales.
No one is even close

[Yavin4]

6. For now...

Tesla had the field to themselves for a while, but now all other autos are in the game. They will catch up.

[FredGarvin]

7. TSLA owns most of the IP

Ford and GM management is even worse than TSLA.

The Chinese are the ones who will eventually steal the show in the US marketplace.

Give it a few years...

US based automakers are way behind the curve

[GreenWave]

18. Oh but the Volkswagon EV, oh baby!

I got my eyes set on you!

[brooklynite]

8. AAPL falls into the same category

Higher priced products with greater innovation. Apple can still turn great profits despite competition from much cheaper PCs and tech on the market. The difference being, they hire talented staff who focus on the job at hand.

[moonshinegnomie]

12. but they dont deserve a market capas great as GM Ford or toyota

[DoBotherMe]

13. This guy is trouble

[yardwork]

14. Tesla's products have major design flaws.

Musk has a history of riding high on hype and not listening to engineers. In fact, his habit of demonizing anyone who disagrees with him is long standing. He will destroy all his companies with his erratic behavior and poor judgment.

[Dorian Gray]

22. They are all gaining market value

and TSLA won't be the only game.

It's still overvalued for an automobile company. (Even one as tech based as TSLA.)

[patricia92243]

9. I've wondered how Musk could spend so much time on Twitter.

[FredGarvin]

10. Musk has teams of people that do it for him

[Quixote1818]

17. This happened to him at PayPal. They fired him but he still got super rich from the PayPal

stocks he had unfortunately.

[NullTuples]

19. Vanguard and Black Rock bought more Tesla stock.

From a recent KoGuan Leo tweet:

"Vanguard now owns nearly 60% more Tesla stock than a year ago. BlackRock is aggressively adding Tesla shares. Its number of shares held is up nearly 46% in two years' time."

I'd love to know if they shorted it.

Annnd, I just realized: these could be margin calls where he's forced to buy the stock because he's crashed the price.

[W T F]

20. He Tweeted that?........I'm surprised his account didn't get suspended