An investor in Tesla, Jerry Braakman, president of First American Trust, has urged Tesla’s board of directors to suspend Elon Musk in response to his recent endorsement of antisemitic views on social media. Braakman contends that Musk crossed a line by agreeing with an antisemitic post on X (formerly Twitter), which claimed that Jewish communities promote “hatred against Whites.”
While acknowledging the importance of free speech, Braakman emphasizes that there is no excuse for the CEO of a public company to spread hatred. His call for Musk’s suspension comes amid a broader response from major brands, including Disney, NBCUniversal, and Warner Bros. Discovery, which suspended advertising on X, owned by Musk. Although these companies did not explicitly state that their actions were related to Musk’s post, some of their ads were found near antisemitic content on X, as reported by Media Matters.
Braakman proposes that Tesla’s board place Musk on leave for 30 to 60 days and mandate his attendance in empathy training and/or therapy. He asserts that Musk’s wealth and business prowess do not excuse his statements, suggesting that such actions indicate a need for help.
Elon Musk holds significant influence within Tesla and is viewed as the most important figure in the company he co-founded. As the largest individual shareholder with approximately a 13% stake, valued at around $96 billion, Musk’s role in the company is crucial. In contrast, First American, based in Santa Ana, California, owns a relatively small stake of 16,000 shares.
Tesla’s board, led by Chair Robyn Denholm and including individuals such as James Murdoch, venture capitalist Ira Ehrenpreis, Kimbal Musk (Elon’s younger brother), and Elon Musk himself, is the entity capable of holding Musk accountable, according to Braakman.
While some business leaders, like hedge fund billionaire Bill Ackman, stand by Musk, praising his contributions, Braakman’s call for accountability reflects concerns about the potential impact of Musk’s social media behavior on Tesla’s reputation and the broader business community. As the situation unfolds, Tesla and its board members have yet to comment on Braakman’s proposal.
