Two analysts have weighed in on apprehensions regarding Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk’s continued involvement with the company in the eventuality of shareholders voting against approving his 2018 compensation package at Thursday’s annual meeting.
Musk’s Piggy Bank: Musk has “long ago mentally checked out of Tesla,” said bearish analyst Gordon Johnson in an interview with CNBC. “But he’s not gonna leave no matter whether this vote passes or not.”
The analyst said Musk would continue to do what he has been doing for years.
“He is going to continue to use Tesla to milk money out of and support his other businesses,” Johnson said.
To make his point, Johnson noted that media reports said millions of dollars worth of Nvidia chips Tesla ordered were diverted to xAI, which Musk set up in 2023. The Boring Company, another Musk venture, is digging a ...