Elon Musk tells Tesla bull Dan Ives to 'shut up' after analyst calls for company oversight of the CEO

Tesla CEO Elon Musk said he would start a new political party just weeks after he vowed to focus more on his EV company.SAUL LOEB/AFP via Getty ImagesTesla CEO Elon Musk wants to start a new political party called the America Party.Wedbush analyst Dan Ives thinks the Tesla board should limit the CEO's time spent on politics.Musk responded to Ives: "Shut up."Even the most bullish of Tesla optimists can catch the ire of Elon Musk.Wedbush Securities analyst Dan Ives, who often gives Tesla an "outperform" rating, said on X and in a note published Tuesday that Tesla's board of directors needs to create "ground rules" for Musk after the CEO said he would launch a new political party.The analyst's suggestion stems from investor concerns that the CEO is once again diverting his attention away from Tesla and toward politics during a time when EV sales have slowed and the company is betting its future on autonomous vehicles and robotics.Musk said on Saturday that he formed the "America Party" in response to the passing of the GOP's Big Beautiful Bill, which the CEO said would put the US in "debt slavery."Ives said the company's board should increase Musk's voting power by up to 25% in his new pay package, establish "guardrails" for how much time Musk spends at Tesla, and provide "oversight on political endeavors."One of Ives' suggestions is to fulfill Musk's previous demand to increase his ownership stake in the company, which stands at about 13%, as an incentive for him to stay on board at Tesla.Even so, Musk responded to the analyst on X with a brief comment: "Shut up, Dan."Ives appears to have brushed off the response."Elon has his opinion and I get it, but we stand by what the right course of action is for the Board," Ives told Business Insider in a text message.Ives has been optimistic about Tesla's growth even as he recognized that the company was "going through a crisis" just several months ago when Tesla's stock was 53% below its all-time high from mid-December.At the time, Musk was involved with the White House DOGE office which was created to reduce the size of the federal government and rein in spending.Concerns about Musk's commitment to his company reached the top, according to The Wall Street Journal. In April, the Journal reported that Tesla's board opened a search for a potential replacement CEO. Robyn Denholm, Tesla's chair, said on X that the report was "absolutely false."While Ives wouldn't go as far as calling for a replacement CEO — he previously said in an April 20 note that "Tesla is Musk and Musk is Tesla" — the analyst said at the time that Musk needed to do two things: make a statement outlining how he'd manage his time between Tesla and the White House, and establish a "roadmap" and timeline for Tesla's cheaper vehicles.When Musk said he'd step back from DOGE, Ives called it "music to the ears of Tesla shareholders."In Ives' latest note, the analyst wrote that it was time for the board to "take the bull by the horns."Ives maintained Tesla's "outperform" rating.Musk did not respond to a request for comment.Read the original article on Business Insider

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