Tesla: Investors Demand Musk 40-Hour Work Week
- A group of Tesla's institutional investors is urging Elon Musk to refocus his attention on the electric vehicle company, citing concerns over slumping sales in key markets and...
- Tesla chair Robyn Denholm received a letter from 12 major pension funds collectively holding significant stakes in the company. The letter requests that Musk commit to working at...
- Signatories include New york City Comptroller Brad Lander, Oregon State Treasurer Elizabeth Steiner, the American Federation of Teachers, Denmark’s AkademikerPension, and the SOC Investment group, which collaborates with...
Tesla investors are demanding Elon Musk dedicate more time to the company amid slowing electric vehicle sales and a falling stock price. Leading pension funds, collectively holding important shares, are requesting Musk commit to a 40-hour work week at Tesla to address challenges in the competitive electric vehicle market. news Directory 3 reports on the critical letter from key investors like new York City Comptroller Brad Lander, emphasizing the need for stronger leadership and focus from musk. The investors believe Tesla should not be one of his many competing obligations,especially as the board considers his compensation plan. Will Musk heed the call and what does this mean for Tesla’s future? Discover what’s next …
Tesla Investors Demand Elon Musk Focus on Company Amid Sales Concerns
Updated May 30, 2025
A group of Tesla’s institutional investors is urging Elon Musk to refocus his attention on the electric vehicle company, citing concerns over slumping sales in key markets and a declining stock price. The investors believe Tesla needs Musk’s full engagement to address these challenges and boost the company’s performance in the competitive electric vehicle market.
Tesla chair Robyn Denholm received a letter from 12 major pension funds collectively holding significant stakes in the company. The letter requests that Musk commit to working at least 40 hours a week at Tesla, according to the Financial Times.
Signatories include New york City Comptroller Brad Lander, Oregon State Treasurer Elizabeth Steiner, the American Federation of Teachers, Denmark’s AkademikerPension, and the SOC Investment group, which collaborates with labor union pension funds to back shareholder initiatives. SOC is the investment arm of the Strategic Organizing Center, a coalition of North american labor unions.
The investors’ letter highlights the need for stronger leadership at Tesla, especially given Musk’s involvement in multiple ventures. Thay emphasize that Tesla should not be treated as just one of many competing obligations.
“The current crisis at Tesla puts into sharp focus the long-term problems at the company stemming from the CEO’s absence, which is amplified by a Board that appears largely uninterested and unwilling to act in the best interest of all Tesla shareholders by demanding Musk’s full-time attention on Tesla,” the letter said.
The letter arrives as Tesla’s board considers a new compensation plan for Musk after a Delaware court rejected his previous $56 billion pay package in 2023. The pension funds suggest that any new agreement should include a requirement for Musk to dedicate at least 40 hours a week to tesla.
“Given Musk’s leadership roles at four private companies and his foundation, the Board must ensure that tesla is not treated as just one among many competing obligations,” the letter said.
Besides Tesla, Musk leads SpaceX, X, The Boring Company, Neuralink, and xAI. He recently stated his intention to refocus on tesla and reduce his involvement as head of the Trump administration’s Department of Government Efficiency (DOGE).
Musk remains Tesla’s largest shareholder, owning approximately 13% of the company. Othre major shareholders include Vanguard, BlackRock, and State Street. The signatories of the letter collectively hold about 0.25% of Tesla, valued at roughly $3 billion. Their call for Musk to prioritize Tesla underscores the importance of dedicated leadership in navigating the challenges facing the electric vehicle market and ensuring the company’s continued success.
What’s next
The Tesla board is expected to address the investors’ concerns as they deliberate on a new compensation plan for Musk. The outcome of these discussions could considerably impact Tesla’s future direction and Musk’s role within the company.