According to a veteran investor, Elon Musk is “delusional” in his request for a 25% ownership in Tesla from stockholders.
Ross Gerber, whose firm Gerber Kawasaki has 400,000 shares in the EV maker, said Wednesday that he disagreed with the world’s richest man’s recent statement that he would only make his company a leader in AI and robots if he held 25% of the stock.
Musk delivered an ultimatum to shareholders like Gerber earlier this month, stating that he was unwilling to expand Tesla’s AI and robotics divisions without a larger stake. He presently owns 13% of the stock.
“I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control,” he stated in an article published on X. “Enough to be influential, but not so much that I can’t be overturned.”
Gerber has previously criticized Musk in recent months. In November, he chastised Tesla’s CEO for labeling an antisemitic post on X as the “actual truth.”
“This isn’t about me calling on him to step aside, he has stepped aside,” Gerber said on CNBC’s “Last Call.” “None of his activities are intended to promote Tesla. He believes what he says is important in some strange realm, but in reality, he is destroying everything he has built.”