--- title: "One of Tesla’s Largest Shareholders Calls to Ditch Elon Musk" description: "Tesla's third largest investor and self-professed Elon Musk \"fanboy\" KoGuan Leo is calling for the company's embattled CEO to step down." date: "2022-12-16" modified: "2022-12-16" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/tesla-shareholder-ditch-elon-musk" categories: - "Advanced Transport" - "Elon Musk" - "Future Society" - "Tesla" - "The Industrialists" tags: - "elon musk" - "tesla" - "the digest" --- # One of Tesla’s Largest Shareholders Calls to Ditch Elon Musk ![Tesla's third largest investor and self-professed Elon Musk "fanboy" KoGuan Leo is calling for the company's embattled CEO to step down.]() *\Image: Odd ANDERSEN / AFP\* ## CEO Plural Tesla's third largest investor and [self-professed]() Elon Musk "fanboy" KoGuan Leo is calling for the company's embattled CEO to step down. "Elon abandoned Tesla and Tesla has no working CEO," Leo [tweeted]() earlier this week. "Tesla needs and deserves to have working full-time CEO." "Elon was the proud father, Tesla has grown up," he [added]() in a separate tweet. "An executioner, Tim Cook-like is needed, not Elon." As of August, Leo owned roughly $3.4 billion worth of Tesla shares, making him the third largest shareholder after Musk and Oracle founder Larry Ellison, [according to *Bloomberg*](). Leo's comments [echo the sentiments]() of several other high-profile Tesla investors, who are accusing Musk of focusing too much of his time and effort on Twitter, not to mention causing serious damage to the carmaker's brand by [spreading rumors](), making baseless accusations, and [lashing out at the media](). ## Sell Off Musk has also sold an astonishing amount of his own Tesla stock this year to fund his chaotic acquisition of Twitter. This very week, he [unloaded another $3.5 billion]() in Tesla shares. The EV maker's finances have fallen off a cliff this year, sinking [well over 50 percent]() since the beginning of 2022. While some of that can be chalked up to a slowing global economy and persistent supply chain constraints, Musk's brash and often inexcusable actions have only added to Tesla's financial woes. Most recently, Musk [banned several journalists]() from mainstream news outlets including *CNN* and *The New York Times* on Twitter for allegedly giving away his real-time location, a baseless claim he has yet to back up. The uproar clearly left investors unimpressed, with Tesla plunging another [five percent]() Friday morning. Musk is clearly failing to meet the expectations of his long time investors — and Tesla is really starting to feel the consequences of Musk's unpredictable outbursts. Whether the billionaire will be able to turn things around to rescue the company from even more financial damage remains to be seen. **READ MORE:** [Tesla’s Third Largest Shareholder Calls For the Ouster of Elon Musk as CEO]() \[*Observer*\] **More on Musk:** *[Elon Musk Conducts Poll, Doesn't Like Results, Conducts New Poll, Still Doesn't Like Results]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()