Major Tesla investors instruct board to keep 'overcommitted' Elon Musk on short leash

April 23, 2023

Major Tesla investors are demanding the board of directors keep Elon Musk on a short leash in an open letter, as the company faces a series of discrimination lawsuits and its values plunges 15 percent. Tesla reported disappointing first quarter results, with shares dropping by 9.75 percent and earnings plummeting by over 20 percent. Despite his disastrous week, Musk still has a net worth totaling $164 billion, according to the Bloomberg Billionaire Index. Musk's net worth took a huge dive after Tesla reported poor first quarter returns ThursdayWhile most of his net worth decline is reportedly tied up in his giant stake in Tesla, Musk experienced further setbacks in his latest unpopular decision with Twitter. And after receiving a muted reaction to his 'Twitter Blue' rollout, Musk eventually followed through Thursday and rid the site of 'legacy' ticks.