
Tesla investors demand Musk work 40-hour week at EV maker as ‘crisis' builds
- by NBC Los Angeles
- May 28, 2025
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A group of pension fund leaders with long-term investments in Tesla want the company's board to require Elon Musk to work at least 40 hours per week at the electric vehicle maker.
Tesla is facing a "crisis" due in part to Musk's "absence" and a board that appears "unwilling to act in the best interest of all Tesla shareholders," they wrote.
Tesla's EV sales declined in the first quarter from a year earlier.
Elon Musk needs to spend more time at Tesla as his electric vehicle company faces a "crisis," according to a letter on Wednesday from a group of pension fund leaders who manage investments in the company.
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"Tesla's stock price volatility, declining sales, as well as disconcerting reports regarding the company's human rights practices, and a plummeting global reputation are cause for serious concern," the investors wrote in a letter to Robyn Denholm, the company's board chair. "Moreover, many issues are linked to Mr. Musk's actions outside of his role as Technoking and Chief Executive Officer at Tesla, including his high-profile role as an architect of the U.S. Department of Government Efficiency (DOGE)."
The investors want the Tesla board to require Musk to work a minimum of 40 hours per week at the automaker as a condition of any new compensation plan they may arrange for him. They also want a clear succession plan for management of the EV business, and a policy that would apply to all Tesla directors limiting their outside board commitments at public and private companies.
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Early last year, the Delaware Court of Chancery ordered Tesla to rescind Musk's 2018 CEO pay package, which had been worth around $56 billion, finding that Musk controlled the company, and the board's compensation committee misled shareholders before seeking their vote to approve the plan.
Musk now says he wants even more shares, amounting to 25% voting control of the company.
Tesla's brand value and reputation have declined since 2024, due largely to Musk's incendiary rhetoric and political activities. In addition to pouring nearly $300 million into an effort to get Donald Trump back into the White House, Musk formally endorsed Germany's far-right AfD party ahead of the country's parliamentary election this year.
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