Musk is facing contempt of court allegations after he tweeted what the SEC claims was 'inaccurate' information about Tesla's production.
A major Tesla backer doesn't fear an SEC-inspired ouster of CEO Elon Musk, according to a new report by Barron's.
Baillie Gifford is the second-largest stakeholder in Tesla behind Musk. The U.K.-based investment firm owns 7.7 percent of the company — or roughly $3.8 billion worth — according to FactSet. Musk owns 19.7 percent, while the third-largest investor, T. Rowe Price, owns 5.2 percent. Tesla has long touted the importance of keeping Musk in the top spot, saying in annual SEC filings that Tesla is"highly dependent on the services of Elon Musk, our Chief Executive Officer and largest stockholder."
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