- Musk is selling more of his Tesla stock amid the Twitter takeover.
- Tesla shares are falling and shareholder concerns are growing.
- Musk promised to step down as CEO of Twitter today.
Tesla’s third-largest individual shareholder, Leo Kuoguan, is calling for Elon Musk to step down as CEO after he sold AU$3.6 billion worth of more company stock last week.
Kogan, who owns about 15 million shares of Tesla worth up to AU$5.4 billion, believes Musk’s move shows he is in the midst of a takeover of social media platform Twitter worth about AU$66 billion. No longer committed to an electric vehicle manufacturer.
After holding a public poll, Musk announced that he would step down as CEO of Twitter “as soon as I see someone stupid enough to take the job”.
“Elon leaves Tesla and Tesla has no working CEO,” Coogan tweeted.
“Tesla needs and deserves a full-time CEO.”
Musk has come under fire among investors for selling his Tesla stock, with some speculating that he will use the funds to transform Twitter into a hub for free speech without bots and spam accounts. doing.
The entrepreneur – who also owns SpaceX, Boring Company, and Neuralink and Open AI – is no longer the world’s richest man after acquiring Twitter and the resulting sharp drop in Tesla’s share price last month. There was a decrease of about 18 percent. According to ForbesMusk has a net worth of around AU$233 billion.
Tesla was founded by Martin Eberhard and Mark Tarpening in 2003, before Musk took over as CEO in 2008.
It is now the world’s best-selling electric vehicle brand, led by the Tesla Model 3 small sedan and the Model Y medium SUV, along with the Model S and Model X flagships.
The American automaker is also offering its semi-delivery truck to commercial customers — albeit five years after its debut — and has yet to deliver on its promised second-generation Roadster coupe and controversial Cybertruck electric ute. To be delivered.