Elon Musk Is Demanded To Apologize For Anti-Semitic Comments

Elon Musk is required to apologize for his anti-semitism (photo: dock. special)

JAKARTA - New York City Comproller Brad Lander has asked Tesla's board of directors to sanction Tesla CEO Elon Musk if he doesn't apologize for supporting anti-Semitic comments on his social media platform.

Lander, which oversees about $946 million Tesla shares for its New York city public pension fund, said Musk's actions created problems for Tesla, citing parts of the automaker's business code of ethics banning bullying "at all levels of organization."

"There is a real risk that if he is considered anti-Semitic, it could have a real impact on Tesla's sales and value," Lander said.

It is unclear whether the Tesla board will take any action. The board has supported Musk through various controversies, ranging from resolving allegations of fraud with the US Securities and Exchange Commission to serving the CEO with time and resources in other ventures such as the SpaceX rocket maker, brain chip startup Neuralink, tunnel contractor Boring Company and X. The council also defended him after shareholders opposed his compensation of 56 billion US dollars in court.

Tesla shares, whose value nearly doubled this year, were trading on Tuesday, November 21 at around the same level before Musk supported anti-Semitic posts on November 15.

Musk has since denied that he is anti-Semitic, and X CEO Linda Yaccarino told employees that "data will tell true stories" about the company's efforts to combat anti-Semitism.

Lander said Tesla's board should explain to Musk that he needs to take steps such as deleting his posts and apologizing for that. If Musk fails to do so, the Tesla board should consider actions such as cutting his salary, suspending it or ending it.

"The board needs to hold it accountable, but what we need more lately is to show how people can grow and change," Lander said.

Lander acknowledged that Musk's contribution to Tesla's success could discourage the council from acting against him. He wrote to Tesla's chairman, Robyn Denholm, on Monday 20 November that failing to take action would show Tesla's business code of ethics became "omet."

He also cited the case of automotive icon Henry Ford, whose role in perpetuating anti-Semitism was recognized as a problem in September by the President of the Ford Foundation.

Musk's support for anti-Semitic posts led to criticism from the White House, which accused Musk of "an disgusting anti-Semitic and racist hate promotion" that "contradicts our core values as Americans."

Musk is Tesla's largest single shareholder with 20.6% of shares, according to the company's latest proxy statement. Proxy advisors, who recommend how investors should vote in annual shareholders' meetings, have criticized Tesla's board of directors for issues including their independence.

Big company advertisers have left X since Musk bought it in October 2022, amid concerns from civil rights groups that content moderation reduction is causing a sharp increase in hate speech.

Others have left in recent days after reports from liberal media watchdog Matters for America said content promoting Nazism appeared next to their ads. Musk has denied this and sued Media Matters last Monday.

Musk has also made several comments targeting the Defamation League, a non-profit organization battling anti-Semitism. Tesla and Musk have also defended themselves against allegations of racial or sexual discrimination or harassment against workers in actions brought by state and federal civil rights agents.

In a public call with investors on Tuesday, Nia Impact Capital's Kristin Hull said Musk's comments were the same as "for the first time investors have to deal with CEOs who don't seem to be looking for the best for their own brand... So we ask the council to step in and come up with solutions here."

Last week Nia had asked the Tesla council to take action against Musk such as "reprimand by the Council, demotion, resignment, suspension, or dismissal."