Ross Gerberthe CEO of Gerber Kawasaki Wealth and Investment Managementexpressed his gratitude for Tesla Inc. TSLA as an investment, just as shareholders are asked to vote for the CEO Elon Musk’s $56 billion compensation package.
What happened: Gerber, in an interview with CNBC’s Last Call, said, “I’m very grateful to Tesla as an investment.” He added: “For me, the question is not whether he deserves it or not. The question is whether this board can have credibility.”
Shareholders will vote on reinstating Musk’s $56 billion pay package. This comes after the board invalidated Musk’s previous $47 billion pay package, leading to a new vote. The new vote will take place on May 7.
On February 13, Ross Gerber’s investment firm, Gerber Kawasaki Wealth & Investment Management, said it owned 377,918 shares of Tesla, a decrease of 5.09% from their previous ownership, according to Fintel.
See also: ‘Wow:’ Elon Musk Stunned by Reminder of How Rivian’s Optimistic 2021 Tesla Bull Prediction ‘Hasn’t Aged Well’
Because matter: The shareholder vote on Musk’s compensation package is a significant event for Tesla, especially considering the recent challenges the company has faced. The outcome of this vote could have a substantial impact on the future of the company and Musk’s position within it.
Gerber’s statement comes in the wake of his recent criticism of Musk’s management style, particularly in light of delays in the delivery of the Cybertruck. He also spoke openly about the impact of Musk’s behavior on Tesla’s first-quarter sales. Despite these concerns, Gerber’s recent statement reflects his appreciation for the returns Tesla generates as an investment.
Despite recent criticism, Gerber’s gratitude for Tesla’s returns highlights the company’s continued financial success, which could influence shareholders’ decision on Musk’s compensation package.
Read next: No more inventory discounts on Tesla cars as CEO Elon Musk says sales system has become ‘complex and inefficient’
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