• Tesla’s third-largest shareholder appeared to point out a purchaser’s regret when criticizing Elon Musk’s share gross sales.
• Leo KoGuan tweeted, “I am one hundred pc at Tesla, I consider in Elon Musk and Tesla. However he is killing SH and Tesla. I would not have invested in Tesla if I knew.”
• However in a collection of weekend tweets, he additionally mentioned he purchased extra Tesla shares final week.

Tesla’s third-largest particular person shareholder thinks Elon Musk is hurting shareholders and the corporate by his huge private sale of shares.

In a collection of tweets over the weekend, Leo KoGuan appeared to precise remorse from some consumers, however however reaffirmed his dedication to the inventory.

“I am 100% at Tesla as a result of I consider in Elon Musk and Tesla. However he is killing SH and Tesla. I would not have invested in Tesla if I knew. Elon ≈ invested $200 million however received $40 billion, Larry $1 billion invested, I’ve invested over $3 billion, I’ve no selection however to behave and communicate up. Shout out to U for assist!” KoGuan said on Saturday.

Musk cashed out nearly $40 billion worth of Tesla shares Since November 2021. In the meantime, Tesla generated lower than $9 billion in web earnings within the 9 months by September 30. Tesla inventory misplaced an astonishing 65% in 2022.

KoGuan’s feedback got here as Musk was beneath scrutiny for specializing in his newest function as CEO at Twitter, the social media firm he purchased in October.

Within the weekend’s tweetstorm, he dismissed a few of his critics as cult followers and largely directed his criticism at Musk, whom he known as “the one one.”

“I have been in touch with the board and the board for a few 12 months, and I received nothing or empty phrases at greatest. I really realized from these interactions that Tesla was a one-man present enterprise, however not a household enterprise anymore. With over 100,000 staff. It is a publicly traded firm,” added KoGuan, founder and president of IT supplier SHI Worldwide.

He at the moment owns roughly 23 million shares as of September 2022 and amassed many of the wealth through the pandemic months of 2020.

Regardless of his criticism of Musk, KoGuan tweeted on Friday Purchased 450,000 additional Tesla shares final week and plans to purchase 1,000,000 extra.

He stays an ardent supporter of the corporate and mentioned final month that he “plans to take a position extra billions of {dollars}. Tesla would be the greatest firm with or with out Elon.”

Additionally final month KoGuan says it may be time for a new CEO, says Musk is leaving Tesla. And final week, he instructed that Musk intentionally downsized shares of the electrical automobile maker.