Elon Musk recently made headlines after telling Tesla’s biggest supporter on Wall Street, Wedbush analyst Dan Ives, to ‘shut up’ in response to a suggestion regarding Musk’s compensation package. Ives, known for his high price target on Tesla stock and unwavering support of Musk, proposed that Tesla’s board should grant Musk 25% control over the company in exchange for a $200 billion payday.
Despite Ives’ admiration for Musk and his belief in the CEO’s potential to lead Tesla to success, Musk’s response was unexpected. He dismissed Ives’ suggestion and told him to ‘shut up’, sparking speculation about Musk’s motives and decision-making process.
It is no secret that Musk has a strong influence over Tesla’s board, which has previously led to the rescinding of his 2018 CEO compensation package. The judge overseeing the case highlighted Tesla’s failure to negotiate with Musk about his commitment to the company, especially considering his involvement in other ventures such as SpaceX, The Boring Company, and Neuralink.
Musk’s recent announcement of launching his own political party further adds to the complexity of his already busy schedule. Despite his numerous responsibilities, Musk’s control over Tesla remains unquestionable, raising concerns about corporate governance and oversight.
Ives’ suggestion, although well-intentioned, was met with resistance from Musk, who seems to prioritize his autonomy over external input. His reaction to Ives’ proposal raises questions about his willingness to collaborate and adhere to board decisions, potentially undermining Tesla’s corporate structure.
Overall, Musk’s response to Ives’ proposal reflects a growing sense of disconnect from reality and a desire for unchecked authority. As Tesla continues to navigate challenges and uncertainties in the market, Musk’s leadership style and decision-making process will undoubtedly come under scrutiny.
