It seems that Elon Musk's behavior, which has become increasingly violent after buying Twitter, seems to have made some investors lose confidence. One of them is Leo KoGuan, an Indonesian-born billionaire who asked Musk to step down from his position as CEO of Tesla.
In a series of tweets on Twitter, Leo accused Musk of not ignoring Tesla and choosing to focus on his other businesses, such as Twitter.
“Elon ignored Tesla and Tesla doesn't have a working CEO. Tesla needs and deserves to have a full time CEO,” Leo said in a tweet, as quoted by Mashable, Sunday (18/12/2022).
Leo then asked Tesla's board of directors to find a new, more professional leader to replace Musk. He gave an example of a figure like Apple CEO Tim Cook.
"Elon is a proud father, Tesla has grown up. An executioner, like Tim Cook is needed, not Elon," he said in a separate tweet.
Elon abandoned Tesla and Tesla has no working CEO
Tesla needs and deserves to have working full time CEO
What Tesla BOD should do, do nothing? Elon will find his own successor under BOD independent supervision https://t.co/AJSvij9ncP
— KoGuan Leo (@KoguanLeo) December 14, 2022
Leo is Tesla's third largest individual shareholder after Musk and Oracle founder Larry Ellison. He owns approximately 22.6 million shares of Tesla worth USD 3.4 billion and 1.23 million stock options as of August 2022.
Leo, who currently lives in Singapore, is the chairman and co-founder of software company SHI International Corp. According to the Bloomberg Billionaire Index, Leo is the 398th richest person with a wealth of USD 5.8 billion.
In an interview with Forbes in October 2021, Leo admitted to being a Musk fanboy. At that time, Tesla's stock value was at its peak, but since Musk bought Twitter, Tesla's finances have been in a free fall.
This year alone, Tesla's stock value has fallen by 55%. Since announcing his intention to buy Twitter, Musk has sold his Tesla shares worth USD 22.9 billion.