In Ives' view, the Tesla board should put forward a new incentive pay package for Musk that increases his ownership of Tesla up to around 25% voting power. Ives wrote Tuesday that part of this new pay package would "lay out the amount of time" Musk must spend on Tesla operations to fulfill his pay package.

Elon Musk said over the weekend he was starting a new “America Party.” That’s “exactly the opposite direction” that Tesla shareholders want, an analyst says.