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Tesla lost nearly $8 billion in shareholder value this week and its board should be ashamed

Jonathan Shieber
Tesla lost nearly $8 billion in shareholder value this week and its board should be ashamed

Over the last five days, Tesla shareholders watched the value of their stock decline by roughly 16 percent and saw nearly $8 billion in value erased, as the company's celebrity chief executive, Elon Musk, had what amounts to a very public breakdown. As The New York Times article which precipitated the latest slide in Tesla's value on the public markets makes clear, the company's board is also to blame. For months, Musk has been showing signs of strain (generously speaking), and has been accused of making questionable decisions to drive growth and stifle criticism or dissent at the revolutionary electric vehicle company he founded.