Major investors, including state treasurers overseeing significant public funds, are raising serious concerns about Elon Musk’s divided attention and its potential impact on Tesla’s future. They’re urging Musk to prioritize Tesla and address investor anxieties about his involvement in other ventures and political activities.
Why the concern?
- Investor Confidence: These state treasurers represent substantial holdings in Tesla and their concerns reflect a wider anxiety among investors about Musk’s commitment to the company.
- Tesla’s Performance: With recent reports of slowing sales, profit drops, and increased competition, investors are looking for strong leadership and focused strategy from Musk.
- Distraction Risk: Musk’s involvement in X (formerly Twitter), his political commentary, and other projects are seen as potential distractions that could negatively impact Tesla’s performance.
- Fiduciary Duty: State treasurers have a responsibility to protect public funds, and they’re signaling that Musk’s divided attention poses a risk to those investments.
Meet the GAC Hyptec HL with 10-Minute Fast Charging & 466-Mile Range!
Inside Tesla China: 13-Hour Shifts, No Days Off in Sales Battle!