Tesla and Twitter investor Ross Gerber says Elon Musk is ‘unfit’ to run Twitter

Elon Musk is “not suitable” to run for election Twitter Inc. and should instead focus on repairing the damage his acquisition has caused to Tesla Inc., according to an investor in both companies.

Ross Gerber, head of Gerber Kawasaki Wealth Management, said in an interview with Bloomberg, to the extent that Musk is still involved in the social media platform, it has to be the underlying technology rather than the status quo. as the “direct CEO”. television on Wednesday.

“Let someone who is media savvy work with the advertisers and the media and the face of the company,” says Gerber. “I think maybe he was skateboarding in an area where he was not suitable for dealing with delicate matters.

While Gerber’s company owns only 390,100 Tesla shares as of September 30 – a share ratio of about 0.01% – the longtime investor has become a public face to investors increasingly concerned about the electric-car maker’s direction and Musk’s oversight. Tesla’s value has dropped more than 60% since the start of the year, and Musk has sold a significant portion of his own stock to fund the Twitter acquisition.

Shares of Tesla were up less than 1% as of 3:23 p.m. in New York.

Gerber posted important tweets Recently, one person told Tesla’s board that “it’s time for a reshuffle” following the stock slide. The comments caught the attention of Musk, who tweeted several rebuttals to Gerber, suggesting he “go back and read your old Stock Analysis 101 textbook.”

However, the billionaire who also runs companies including a launch service provider space, admitted to having too much on his plate. He said on Tuesday he would step down as Twitter’s CEO after a replacement was named, a nod to a poll he posted over the weekend in which the majority of the respondent said that he should resign.

Despite his criticism, Gerber said Wednesday that he believes Tesla remains poised for “extreme growth” and that he is “absolutely satisfied” with Musk’s focused leadership.

“Tesla is the most important company that ever existed,” says Gerber. “I think all this noise will be gone in six months.”

(Update investor Tesla stake size in third paragraph)

–With the support of Sonali Basak and Kailey Leinz.

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