Berkshire takes $3.8 billion Kraft Heinz writedown, profit falls Ives laid out a three-point plan for the Tesla board to keep Musk at the helm through 2030. It includes: A new “incentive-driven pay package for Musk as CEO that increases his ownership of Tesla up to ~25% voting power” which would be drawn up by a special board committee Establishing clear guidelines for how much time Musk must devote to Tesla operations in order to receive his compensation. Creating a dedicated oversight committee to monitor Musk’s political activities to determine whether any of them interfere with his duties as CEO. “We urge the Board to act now and move the Tesla story forward with Musk as CEO,” Ives wrote, reaffirming Wedbush’s belief that the stock will eventually excel. “We view Tesla along with Nvidia as the two best physical AI companies in the world and Musk will play a major role in this success which we value the autonomous opportunity as $1 trillion alone to the Tesla story.” Musk responded to Ives on X, writing: “Shut up, Dan.” Ives offered up a response of his own to Musk, telling CNBC: “Elon has his opinion and I get it, but we stand by what the right course of action is for the Board.” The Post has sought comment from Tesla and Musk. Shares of Tesla fell by around 7% on Monday after Musk announced the creation of a new political party. ZUMAPRESS.com Musk’s cost-cutting role in the Trump administration as part of the Department of Government Efficiency (DOGE) led to widespread backlash against the world’s richest person and Tesla. In May, the Wall Street Journal reported that Tesla’s board began searching for a successor to Musk, reaching out to executive search firms due to concerns over Musk’s focus on outside ventures and his involvement in the Trump administration. The report said this effort started in April during a period of declining profits and stock value. The Journal also noted that the board urged Musk to commit more time to Tesla. Both Musk and board chair Robyn Denholm denied the Journal report, calling it “absolutely false,” but the Journal stood by its reporting. Musk parted with the administration in May. Shortly later, he ignited a war of words with Trump after criticizing his “One Big Beautiful Bill,” saying it would “add trillions to the federal deficit.” Wedbush Securities analyst Daniel Ives penned a bluntly worded note on Tuesday urging Tesla’s board to “act now.” Tamara Beckwith Following Trump signing the spending bill on Friday, Musk vowed to launch the America Party, without providing any additional details. “When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom.” Trump called Musk “off the rails” and a “train wreck,” and dismissed the America Party as “disruptive and chaotic.” Filed under