Elon Musk wants more control of Tesla, seeks 25% voting power
- Tesla CEO Elon Musk wants to increase his ownership stake in the company from roughly 13% to around 25% in order to have more voting control and influence over its growth in artificial intelligence and robotics.
- Musk believes that having a 25% voting control would make him influential but still open to being overridden, while anything below 15% would make it easier for "dubious interests" to take control of the company.
- Musk's desire for more voting control adds pressure to Tesla's board of directors, who are already facing concerns from investors about his split focus, divisive commentary, and federal probes.
56 Articles
56 Articles
Musk wants 25% voting control at Tesla before fulfilling AI goal
Tesla CEO Elon Musk said he would be uncomfortable growing the automaker to be a leader in artificial intelligence and robotics without having at least 25% voting control of the company, nearly double his current stake. Musk said on Monday, January 15, in a post on social media platform X, formerly known as Twitter, that unless he got stock in the world’s most valuable automaker that was “enough to be influential, but not so much that I can’t be…
Musk wants more voting control at Tesla before expanding automaker's AI work
Tesla CEO Elon Musk has revealed what he would need to further boost the electric vehicle maker’s artificial intelligence and robotics work. "I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control," Musk said Monday on X. He said having roughly a quarter of all voting power would "mean I am influential, but can be overridden if twice as many shareholders vote against me vs for me." "At 15% or lower,…
Elon Musk demands at least 25% stake in Tesla before fulfilling AI goal: ‘I can’t be overturned’
Tesla CEO Elon Musk said he would be uncomfortable growing the automaker to be a leader in artificial intelligence and robotics without having at least 25% voting control of the company, nearly double his current stake.
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