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Investors urge Tesla's board to impose sanctions on Elon Musk over anti-semitic scandal

Investors urge Tesla's board to impose sanctions on Elon Musk over anti-semitic scandal Elon Musk (photo: GettyImages)

Investors in Tesla have urged the company's Board of Directors to impose sanctions on Elon Musk if he does not apologize for endorsing an anti-Semitic comment on his social media platform, X (formerly Twitter), according to Reuters.

Brett Lander, who oversees around $946 million in Tesla shares for New York state pension funds, has stated that the board should impose sanctions on CEO Elon Musk.

He believes Musk's actions are creating issues for the company, citing a section of the electric carmaker's business ethics code that prohibits harassment at any level of the organization.

"There's a real risk that if he becomes perceived as antisemitic that could have real reverberations for Tesla sales and value," said Lander.

He added that the Tesla Board of Directors should clearly convey to Musk that he must take action and hold him accountable if he refuses.

The investor believes Elon Musk should delete his post and apologize, and if he fails to do so, Lander suggests stopping his salary, suspending his position as CEO, or firing him.

Other investors, including Nia Impact Capital and Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, have also expressed concerns about Musk's actions.

What proceeded this

Elon Musk was involved in an antisemitic scandal recently, resulting in several globally recognized companies such as Disney, Apple, and others suspending their activities on the social media platform Twitter and ceasing to advertise on the platform.

Recently, the communications department of the European Commission appealed to all executive services of the EU to stop advertising on the social media platform X. These actions are planned amid concerns about the spread of misinformation.

Elon Musk soon commented on the antisemitic scandal. The billionaire denied any involvement in antisemitic remarks and dismissed all accusations in the media as false.