Investment advisor Ross Gerber criticized Tesla Inc. (NASDAQ:TSLA) board members on Tuesday for remaining silent as President Donald Trump launched a scathing attack on CEO Elon Musk and federal subsidies supporting his company.
What Happened: “Sadly true and it seems Elon is destined to find out who is more powerful. Not a peep from the Tesla BOD of this absurd attack on the President he enabled,” wrote Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, on social media platform X.
Gerber’s comments followed Trump’s Truth Social post claiming Musk “may get more subsidy than any human being in history, by far” and suggesting “without subsidies, Elon would probably have to close up shop and head back home to South Africa.”
Trump added that eliminating support would mean “no more Rocket launches, Satellites, or Electric Car Production,” while the country “would save a fortune.”
The president specifically recommended that the Department of Government Efficiency (DOGE), which Musk previously headed, examine billions in subsidies flowing to his companies.
Why It Matters: The public feud marks a dramatic reversal between former allies. Musk reportedly contributed over $250 million to Trump’s 2024 campaign before departing the administration in June amid disagreements over Trump’s “Big Beautiful Bill” spending package.
Tesla faces mounting operational challenges that compound political tensions. Canadian sales plummeted 87% in Quebec during the first quarter of 2025, according to researcher Troy Teslike, who warned the company may report GAAP losses starting in the first quarter of 2026. Tesla continues operating 35 Canadian stores despite near-zero sales.
Gerber has been a vocal Tesla critic, recently dumping over 20,000 shares in the first quarter of 2025. He previously blamed the board for “negligence” regarding brand damage from Musk’s political activities and called for leadership changes.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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