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☆ Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI
▼ + stars: | 2024-06-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +12 min

Correspondence from Nvidia staffers also indicates that Musk diverted a sizable shipment of AI processors that had been reserved for Tesla to his social media company X, formerly known as Twitter. "Elon prioritizing X H100 GPU cluster deployment at X versus Tesla by redirecting 12k of shipped H100 GPUs originally slated for Tesla to X instead," an Nvidia memo from December said. In a post on X in November, Musk wrote, "X Corp investors will own 25% of xAI." At Tesla, Musk has promised to build a $500 million "Dojo" supercomputer in Buffalo, New York, and a "super dense, water-cooled supercomputer cluster" at the company's factory in Austin, Texas. WATCH: Musk ordered Nvidia to ship thousands of AI chips to X

Persons: Elon Musk, David Swanson, Reuters Elon Musk, he's, Tesla's, Musk, Tesla, Elon, Critics, OpenAI's ChatGPT, Axios Harris, Jensen Huang, Huang, David Paul Morris, xAI's Grok, xAI, he'd, He's, Leo Koguan, Gerber Kawasaki's Ross Gerber, Joel Fleming, Fleming, hasn't, Ethan Knight Organizations: SpaceX, Tesla, Reuters, Nvidia, Tesla's Texas, CNBC, X Corp, EV, Google, Meta, Microsoft, Blackwell, Nvidia Corp, Technology, Bloomberg, Getty, Twitter, Equity Litigation Locations: Beverly Hills , California, Tesla's, U.S, San Jose , California, Buffalo , New York, Austin , Texas, North Dakota, Delaware, Tesla, xAI, SolarCity, Texas, New York

☆ The battle over Elon Musk's pay package is a showdown between his army of supporters and institutional investors
▼ + stars: | 2024-06-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Read previewTesla is setting the stage for a battle between some vocal institutional investors and some of Elon Musk's biggest supporters. The executive pay plan, which was first approved in 2018, is centered on a series of goalposts around Tesla's financial growth. AdvertisementMeanwhile, Tesla has argued that the pay package is both fair and necessary to maintain Musk's focus on the car company. AdvertisementThe Tesla CEO has also promoted the proposal and criticized institutional investors who have spoken out against the pay plan. Ahead of the June 13 shareholder meeting, shareholders will be asked to vote on several other proposals in addition to Musk's pay package.

Persons: —, Elon Musk's, Musk, Tesla, Leo Koguan, Bloomberg —, Adam Jonas, Morgan Stanley's, Morgan Stanley, Anat Alon, Beck, Alon, I'd, they'd, Kimbal Musk, Murdoch Organizations: Service, Business, Securities and Exchange Commission, P Global Market Intelligence, Reuters, Bloomberg, Case Western Reserve University, Texas Locations: Elon, Delaware, Texas

☆ Top proxy advisor ISS recommends against Elon Musk's $56 billion Tesla pay package
▼ + stars: | 2024-05-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Taylor Hill | Getty ImagesTop proxy advisor Institutional Shareholder Services on Friday recommended Tesla shareholders vote against the re-approval of CEO Elon Musk's $56 billion pay package and withhold their support from the re-election of News Corp . Tesla's shareholder meeting is on June 13. Tesla's board is seeking shareholder approval to reinstate Musk's pay after a Delaware court voided the package earlier this year. The proxy advisor recommended support for some shareholder proposals that Tesla management opposes, including one that would declassify Tesla's board. Pay package pushTesla has been courting shareholder support in both time-tested and novel ways.

Persons: Elon Musk, Elon Musk's, James Murdoch, Glass Lewis, Tesla, Innisfree, Robyn Denholm, Leo KoGuan, KoGuan, Go Nakamura Organizations: Academy Museum of Motion Pictures, Getty, Services, News Corp, CNBC, ISS, FGS Global Locations: Los Angeles , California, Taylor, Delaware, Texas, Austin, Austin , Texas, U.S

☆ Tesla investors call for 'distracted' Elon Musk to be reined in as they worry he's 'overcommitted'
▼ + stars: | 2023-04-21 | by ( Grace Kay | Sam Tabahriti | ) www.businessinsider.com time to read: +5 min

Tesla investors called for Elon Musk to be reined in an open letter, citing the CEO's many commitments. A group of Tesla investors is calling for Elon Musk to be reined in, saying the CEO has been distracted by commitments to his other companies like Twitter. "The Board allowed the CEO to be overcommitted at a time when the company faces critical challenges," the letter stated. Tesla and Musk didn't immediately respond to requests for comment from Insider ahead of publication. Gerber's name is not listed on the open letter.

☆ Lawyer dubs Elon Musk a 'part-time CEO' distracted by Twitter and SpaceX in Tesla shareholder lawsuit over $56 billion pay package, report says
▼ + stars: | 2023-02-23 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The final comments in a lawsuit over Elon Musk's $56 billion Tesla pay package were made Tuesday. On Tuesday, the Delaware court heard the final comments in a lawsuit over Musk's Tesla compensation package, currently valued at $56 billion. The package, plus rising Tesla stock, catapulted him to becoming the world's richest person three years later. Several Tesla shareholders have openly criticized Musk since he took over, echoing the accusation that he's not spending enough time at the electric-vehicle company. The third-largest individual investor, KoGuan Leo, said: "Elon abandoned Tesla and Tesla has no working CEO."

☆ Investor Gerber to run for Tesla board, cites PR and service issues
▼ + stars: | 2023-02-10 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

Companies Tesla Inc FollowFeb 10 (Reuters) - Well-known Tesla Inc (TSLA.O) investor Ross Gerber said on Friday he plans to notify the electric carmaker that he will run for its board of directors, citing problems with its public relations, customer service and succession planning. "Tesla has let Elon be the voice of Tesla forever. Gerber is CEO of a California wealth-management firm with only about 440,000 shares of Tesla. And if I'm going to do that, I should be a representative of the company," Gerber said. Gerber said he plans to notify Tesla next week of his intent to run for its eight-member board at its annual meeting in May, and said he expects Tesla will accept him as a candidate.

☆ Elon Musk is the 'enemy' inside Tesla, a top Wall Street analyst warns
▼ + stars: | 2023-01-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Houchois called Musk "the enemy" inside of Tesla, in an interview with Yahoo Finance. "We've published research many times in the past where we say the enemy is inside of Tesla," Houchois said in an interview with Yahoo Finance after the carmaker's earnings call. So he is the person who is going to decide, can I do SpaceX, Tesla, Twitter?" Some Tesla investors have also been critical of Musk as Tesla's stock has plunged over 20% since the Tesla CEO took Twitter private in late October. Last month, Tesla investor and former self-proclaimed "Elon fanboy" Leo Koguan said on Twitter that Musk has "abandoned" the company and Tesla needs a new CEO.

☆ Top Tesla investor has buyer's remorse and says Elon Musk is 'killing' the EV company with stock sales
▼ + stars: | 2023-01-09 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

"I am 100% in Tesla bc I believe in Elon Musk and Tesla. But in a series of weekend tweets, he also said he bought more Tesla stock last week. "I am 100% in Tesla bc I believe in Elon Musk and Tesla. Elon invested ≈$200mm but took out $40B, Larry invested $1B, I invested over $3B, I have no choice but to act and speak out. Tesla stock lost a staggering 65% in 2022.

☆ Elon Musk's net worth has already dropped $13 billion this year
▼ + stars: | 2023-01-06 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

Elon Musk has lost $13 billion so far in 2023, according to the Bloomberg Billionaires Index. He's the only person to lose $200 billion, per Bloomberg, but is still worth $124 billion. He's still the world's second-richest person, with a net worth of $124 billion as of January 5. Apart from Musk's distraction with Twitter, Tesla fell victim to slumping demand for electric vehicles, specifically in one of its largest markets, China. Meanwhile, Musk's Twitter takeover continues to be marked by chaos.

☆ Tesla investor and former 'fanboy' questions whether Elon Musk is purposely tanking the carmaker's stock
▼ + stars: | 2023-01-06 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Tesla investor Leo KoGuan questioned whether Elon Musk is intentionally crushing Tesla stock. KoGuan, who is "one of Tesla's largest individual shareholders," per Bloomberg, had amassed about 22.6 million Tesla shares as of August 27, 2022. Musk, KoGuan, and Lagetko did not respond to a request for comment from Insider ahead of publication. On Friday morning, Tesla stock was trading around $105 per share, its lowest since August 12, 2020, amid slowing demand from China. The Tesla CEO's fortune, largely tied to his shares in Tesla, declined as the company's stock price tumbled.

☆ Cathie Wood's ARK Invest scooped up $88 million in Tesla stock in the 4th quarter amid the famed money manager's dip-buying spree
▼ + stars: | 2022-12-21 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Cathie Wood's ARK Invest purchased $88 million worth of Tesla shares in the fourth quarter. The famed money manager has been on a dip-buying spree, also scooping $11.2 million of Coinbase last week. The purchases are worth roughly $88 million based on Tesla's average trading levels from October 3 to December 20. Despite the pain, ARK Invest continues to pile into Tesla shares, and investors don't seem to be giving up on Wood's growth-focused strategy just yet. ARKK holds 5.9 million shares of the crypto exchange, valued around $207,903,853.82 on Wednesday.

☆ There's one big flaw in Elon Musk's argument that Tesla stock is falling because the Fed is raising interest rates
▼ + stars: | 2022-12-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Elon Musk has argued that Tesla stock has been crushed this year because the Fed is raising interest rates. But Musk's argument has one big flaw, according to Tesla investor and Future Fund manager Gary Black. But according to Musk, Tesla's stock price decline can be attributed to the Federal Reserve's aggressive interest rate hikes this year rather than his outside business activities. If it was all [interest] rates, NDX would be down a similar amount," Black tweeted at the billionaire on Tuesday. The Fed hiked interest rates by only 50 basis points at its December FOMC meeting, compared to its prior four interest rate hikes of 75 basis points.

☆ Elon Musk has become a 'detriment' to the value of his companies, say 79 CEOs in new Yale School of Management poll
▼ + stars: | 2022-12-21 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

79% of CEOs surveyed at a Yale summit believe Elon Musk has become a detriment to the value of his companies. A new poll of CEOs by Yale School of Management showed that 79% of the 100 executives that were surveyed believe Musk has become a "detriment" to the value of his companies. A screenshot from Yale School of Management's 2022 survey of 100 CEOs, asking whether Elon Musk has become "a detriment" to the value of his companies. Yale School of ManagementThe survey was conducted at the invitation-only Yale CEO Summit held last week. Though, shares of the EV company appeared to respond positively to the possibility of Musk stepping down as CEO of Twitter on Monday.

☆ Elon Musk's net worth has plummeted $124 billion in 2022, bringing his fortune to a 2-year low
▼ + stars: | 2022-12-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Elon Musk's net worth has crashed $124 billion so far this year, per estimates by Bloomberg. Falling Tesla shares have put his fortune at $148 billion, its lowest level since December 2020. Musk's fortune fell nearly $8 billion on Tuesday after Tesla shares plummeted. Musk's fortune has shrunk drastically this yearMusk's net worth hasn't been so low since December 2020, per Bloomberg's estimates. His net worth began a rapid ascent at the start of the pandemic, peaking at $340 billion in November 2021.

☆ Elon Musk is hunting for a new Twitter CEO to replace him, report says
▼ + stars: | 2022-12-20 | by ( Sarah Jackson | Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk is on the hunt for someone to replace him as CEO of Twitter, sources told CNBC's David Faber. Musk recently tweeted a poll on if he should step down as Twitter's CEO, saying he'd abide by its results. Though, shares of the EV company appeared to respond positively to the possibility of Musk stepping down as CEO of Twitter on Monday. The billionaire has offloaded nearly $40 billion worth of Tesla stock in the past 14 months. "Time to end this nightmare as CEO of Twitter," Wedbush tech analyst Dan Ives said in a note on Monday.

Investors have urged Musk to step down as Twitter CEO and punished Tesla stock, which is down nearly 60% this year and hit a fresh two-year low on Monday. On a Twitter poll from Musk on Sunday asking whether he should step down as Twitter CEO, 57.5% of 17.5 million people voted "yes." Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management and a big Tesla bull, said last week that he would run for Tesla board and had notified Tesla. Leo KoGuan, a major individual Tesla shareholder, wrote on Twitter earlier that Musk had "abandoned Tesla and Tesla has no working CEO." "The whole situation is just weird, and weird is being kind," said Matthew Tuttle, CEO of Tuttle Capital Management.

☆ U.S. Senator Warren questions Tesla board oversight of Musk purchase of Twitter
▼ + stars: | 2022-12-19 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Warren said Musk had not explained how he is managing conflicts between his role as Twitter CEO and his position at Tesla. “As the owner of Twitter, Mr. Musk may decide to run the company to maximize badly-needed revenue, even if that includes great deals for Tesla’s competitors and potential injury to Tesla." She asked for "detailed information on how the Tesla Board is monitoring these conflicts of interest and Mr. Musk’s appropriation of Tesla assets to Twitter, what guidelines the Tesla Board has put in place to protect Tesla" by Jan. 3. Leo KoGuan, a major individual Tesla shareholder, wrote on Twitter earlier that Musk "abandoned Tesla and Tesla has no working CEO. Separately, Twitter users voted in a poll for Elon Musk to step down as Twitter CEO.

An image of new Twitter owner Elon Musk is seen surrounded by Twitter logos in this photo illustration in Warsaw, Poland on 08 November, 2022. On Sunday, Twitter's new owner and CEO Elon Musk posted an informal poll of users of the social media platform asking if he should step down as head of the company. In court in November, Musk said, "I expect to reduce my time at Twitter and find somebody else to run Twitter over time." "The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive," he wrote. Tesla's largest retail shareholder, Leo Koguan, wrote in a tweet on Dec. 14, that "Elon abandoned Tesla and Tesla has no working CEO."

☆ Elizabeth Warren is concerned Elon Musk is treating Tesla like a 'plaything' amid his Twitter takeover
▼ + stars: | 2022-12-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Sen. Elizabeth Warren wrote to Tesla's board, raising questions over Elon Musk's Twitter purchase. The senator told the board it must ensure Elon Musk does not treat Tesla as a "private plaything." Some Tesla investors have expressed concern that Twitter has become a distraction for Musk. Warren cited reports that Musk has brought in dozen of Tesla employees to assist in his Twitter takeover, saying it could violate the billionaire's "legal duty of loyalty to Tesla." Musk later took aim at Warren, calling her "Senator Karen" and saying she reminded him of a "friend's angry mom."

☆ Elon had to choose between Twitter and Tesla. He's choosing Tesla.
▼ + stars: | 2022-12-19 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Elon Musk has been forced to make a tough choice: Tesla or Twitter. He's picking Tesla, which represents nearly half his $156 billion in estimated wealth, and the Twitter poll gave him a handy escape pod. That red ink wasn't as much of a problem when interest rates were low, and Tesla's shares were soaring. But as the Federal Reserve has aggressively hiked interest rates to curb inflation, using Tesla stock to pay off the debt on the Twitter buyout is a problem for Tesla. "Tesla is so much an Elon stock, it stands or falls because of him," Beauchamp said.

☆ A Tesla investor slammed Elon Musk and said he is 'killing the company with his antics' at Twitter
▼ + stars: | 2022-12-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

A Tesla investor slammed Elon Musk in a tweet Friday for "killing the company with his antics." Joe Cirincione told Musk to "get off Twitter" as the value of his shares has been "cut in half." Major Tesla shareholder KoGuan Leo said Wednesday that Musk "abandoned" his commitment to Tesla. He said since Musk announced he would buy Twitter, the value of his shares has sliced in half. "Elon abandoned Tesla and Tesla has no working CEO.

☆ Elon Musk could lose control of Tesla if the automaker's stock keeps tumbling, ex-Facebook security chief says
▼ + stars: | 2022-12-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Elon Musk could face activist investors as Tesla's stock falls, an ex-Facebook exec warns. Activist investors buy up big stakes in public companies and then agitate for change — sometimes in the board room. Stamos was previously Chief Security Officer at Facebook and he was also previously Chief Information Security Officer at Yahoo. Last week, some Tesla investors expressed concern that Twitter had become too much of a distraction for the carmaker's CEO. Tesla's stock was trading a little over $150 a share late Friday.

☆ Netflix has lost its golden touch. Here's why the streamer is so boring now.
▼ + stars: | 2022-12-16 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Finance has long ranked employees, but it's been out of fashion in tech for nearly a decade. Netflix once made an explicit choice to invest in underrepresented communities, Paris Marx writes. Shows like "Orange is the New Black" and "GLOW" gave spotlights to women, queer people, people of color, and non-Americans. But, according to Marx, the company stopped prioritizing stories from underrepresented communities, and new players were throwing their hats into the streaming wars. Now, Marx writes that Netflix is filled with bland shows, half-assed reality TV, and hopelessly derivative movies.

☆ 'Elon abandoned Tesla': The EV maker's 3rd-largest individual shareholder calls for a new CEO as the Twitter circus tests investor patience
▼ + stars: | 2022-12-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Investor patience in Tesla is wearing thin as CEO Elon Musk shifts his focus to running Twitter. "Elon abandoned Tesla and Tesla has no working CEO. Tesla needs and deserves to have working full time CEO," Leo tweeted on Wednesday. "Elon abandoned Tesla and Tesla has no working CEO," KoGuan Leo tweeted on Wednesday. He is our employee... Elon was the proud father, Tesla has grown up... An executioner, Tim Cook-like is needed, not Elon," Leo tweeted.

☆ Elon Musk promised Tesla would benefit from his Twitter misadventure. But Wall Street is worried he's using Tesla as his 'personal ATM' to fund his wild plans for Twitter.
▼ + stars: | 2022-12-15 | by ( Asia Martin | ) www.businessinsider.com time to read: +4 min

InsiderSEC filings on Wednesday revealed Elon Musk sold $3.6 billion more in Tesla stock. Dan Ives stated that Musk is 'using Tesla as his own ATM machine' to fund Twitter. That brings the total amount of Tesla stock that Musk has sold this year to $23 billion. Just a few days ago, Musk promised that in the long haul, Tesla would benefit from his ownership of Twitter. He also promised he wouldn't sell any more Tesla stock.

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