Money Rehab with Nicole Lapin
Demystifying Shareholder Activism and Why Some Investors Are Mad at Elon
Thu, 03 Apr 2025
If you’ve got a 401(k) or invest using Nicole’s Index Funds and Chill approach, chances are you’re a shareholder in major companies like Berkshire Hathaway or Tesla—and that means you have power. You can vote on who runs these companies, how they operate, and where your money goes. But most of us don’t use that power, and while we sit it out, others are stepping in—often to push agendas, not better business. Today, Nicole is joined by Nell Minow—an expert in corporate governance—to break down what shareholder activism should be, what it’s becoming, and why your retirement account might be more influential than you think. Oh, and she’s also got some thoughts on Tesla and Elon Musk… you won't want to miss it. Here are resources from Nell on proxy voting: https://www.iconikapp.com/as-you-sow https://theshareholdercommons.com/potb/
Chapter 1: What is shareholder activism and why does it matter?
So much with Tesla. Hold on to your wallets. Money Rehab will be right back. So I just went to the grocery store and I actually flinched at the cost of eggs. And I don't even really eat eggs. That's how bad it is. Everything feels more expensive. And so I'm hearing from a lot of money rehabbers right now that their credit cards are getting a lot of exercise right now.
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You have been for a long time, but you have feelings about the company, the board in particular. So the brother is some of your beef, the brother being on the board. What else? Why did you originally invest? And, you know, the stock is down tremendously this month, this year since Elon went into Doge. How does all of this make you feel?
This is going to sound almost quaint at this point. I invested originally quite a long time ago because I was excited by the idea of electric cars. And that's it. And so I invested and did quite well. And then last year, just this time last year, right after proxy season, I voted no on the pay plan. So I held the stock long enough to do that. And then I donated almost all of my stock to charity.
It had tremendous capital gain. I didn't really want to I have to pay taxes on it. I didn't want to hold it anymore. This is the part that's going to sound quaint. Why did I decide to get rid of the stock? Because Elon was involved in too many other things. I didn't think he was doing a good job as the CEO. As you know, he's got a lot of side hustles. He's got the rocket ship.
He's got the brain thing. He's got all of that stuff he was working on. I didn't think he was going to be able to devote the time and attention to tesla that was needed and i was outraged that he wanted to pay himself 56 billion dollars Just to do his job. Well, so now he has another side gig. Well, I know. That's why it sounds kind of quaint that I was worried about, you know, the rocket ship.
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Chapter 2: How can individual investors influence major companies?
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