Overview

• Elon Musk publicly dismissed Wedbush analyst Dan Ives’s July proposal for a special board oversight committee by telling him to “shut up” in response to suggested guardrails on his time and political activities.
• Dan Ives had urged Tesla’s board to grant Musk 25% voting control in a new compensation package that would require minimum time spent at Tesla and limit his external political engagements.
• The rebuke follows Tesla’s report of a 13% year-over-year drop in first-quarter deliveries and two years of steady declines in net earnings.
• Musk’s announcement of a new “America Party” has intensified investor concerns that his political ventures are diverting focus from Tesla’s core operations.
• The confrontation echoes a 2018 Delaware court invalidation of Musk’s record pay package for lacking negotiated time-commitment terms.