Musk's Antisemitic Posts Spark Backlash, Tesla Investor to Switch to Rivian

Ross Gerber, a prominent Tesla investor, announces plans to replace his Tesla with a Rivian vehicle amid growing concerns over Elon Musk's controversial social media posts.

Elon Musk's recent endorsement of an antisemitic conspiracy theory on social media platform X has sparked backlash from Tesla owners, investors, and advertisers, leading some to reconsider their future purchasing decisions.
Ross Gerber, president and CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, announced his intention to replace his Tesla Model Y with a Rivian vehicle next year, citing Musk's behavior as damaging to the Tesla brand.
Gerber, who holds approximately 420,000 shares in Tesla, stated that Musk has ceased acting as Tesla’s CEO and his actions are not in Tesla’s best interest.
Tech executives and advertisers have criticized Musk's statements, with IBM pulling about $1 million in ad spending on X for the remaining three months of the year.
Despite the backlash, Gerber has no plans to divest his Tesla shares, but noted increased requests from clients to sell their stakes in the company.