Tesla Board Members May Be Reaching Their Limit With Musk

Elon Musk's re-entry into politics is again testing the patience of the Tesla board, reports the Washington Post. And, yes, that may sound like a familiar story, but "I'm hearing from many shareholders that the frustration is hitting a tipping point," says longtime Tesla and Musk supporter Dan Ives of Wedbush Securities. "The board can't just sit here and watch this go by without saying something and putting guardrails in." His warning comes after Musk announced a plan to create a new political party.

The Post story details the frustration of Tesla investors, including that of another prominent one, Alexandra Merz, aka TeslaBoomerMama. Last year, she backed Musk in a big way during his legal fight over a pay package. But over the weekend, she wrote: "If I could give one advice to [Tesla's] Board: Don't rush into a new compensation package right now."

Meanwhile, Tesla's stock closed nearly 7% lower on Monday, per Reuters. And while Musk remains the richest person on the planet by far, his net worth has fallen about $20 billion to $361 billion over the last month as he began picking fights with President Trump, notes Axios. That trend could accelerate if Musk makes a permanent enemy of a president whose party controls both houses of Congress—and government contracts.