Tesla CEO Elon Musk recently sold $22 million shares to accumulate around $3.58 billion, and that has upset one of the automaker’s biggest shareholders. Yes, Tesla’s third-biggest individual shareholder, Leo Koguan with around $3.6-billion worth of shares, isn’t happy with Musk. He says Musk has abandoned Tesla and he shouldn’t continue as the company’s CEO.
Koguan has always appreciated Musk, but it seems he now has changed his opinion about Tesla’s CEO. Two years back, Koguan traded the maximum of his stock assets and invested more in Tesla, and that made him one of the largest tesla shareholders.
Just prior to the update that Musk plans to drop off more Tesla shares, Koguan tweeted:
“Today, I just put in another $500 million on the line to support Tesla stock price @$160 whereas Elon sold $35B his shares and maybe more in last few days. Why he mocked me for being his fanboy who has supported him and Tesla since 2019 with $billions?
Folks, Not on the top 10 list
Don’t worry I buy my way into 10th soon.
Thanks to Elon, my $ worth 400/150=267% x after Elon sold his penny shares(clever Elon)
Chair Powell, SH’ve NOT seen inflation.
Elon manages high-flying Tesla into penny stock.
We fear DEFLATION! https://t.co/PUKUxEfrOi”
— KoGuan Leo (@KoguanLeo) December 17, 2022
Koguan wants Musk to be replaced with a new CEO because he believes Musk has given up on Tesla and the company is working without an active chief executive officer right now. He said Tesla justifies having a new operational CEO.
Unloading a huge portion of his Tesla stock lately made Musk fairly unpopular among Tesla shareholders, particularly after buying Twitter. Some people believe the Tesla CEO traded several shares to fund his Twitter purchase. Musk first offered to buy Twitter for $44 billion and later abandoned his proposal when he found the number of fake bot accounts on Twitter.
Source and Image: InsideEvs