Elon Musk, the visionary CEO of Tesla, has expressed his discomfort with leading Tesla’s endeavors in artificial intelligence (AI) and robotics without attaining at least 25% voting control of the company. Musk, who currently holds around 13% of Tesla stock, emphasized the need for influential decision-making power as the electric vehicle giant expands its focus beyond automobiles.
In a recent social media post on X (formerly Twitter), Musk outlined his preference for acquiring additional Tesla stock that would grant him the authority to shape the company’s direction in AI and robotics. He mentioned the importance of having a stake “enough to be influential, but not so much that I can’t be overturned.” Musk indicated that without this level of control, he would consider developing products outside the scope of Tesla.
While Tesla has gained recognition for its advancements in partially automated driving technology (“Full Self-Driving” software) and its foray into humanoid robots, Musk envisions a more substantial role for the company in the AI landscape. He believes that to achieve this goal, he needs greater voting control to guide Tesla’s strategic decisions.
Musk expressed openness to a dual-class share structure, a model employed by companies like Meta (formerly Facebook), allowing founders to maintain significant control. However, Musk noted the challenge of implementing such a structure post-Tesla’s initial public offering (IPO), questioning the regulatory dynamics that limit reasonable dual-class arrangements.
Tesla, a company known for innovation and disruption, has yet to respond to inquiries regarding Musk’s intentions. Musk’s current ownership stake is approximately 13%, and he sold billions of dollars in Tesla shares in 2022.
In a separate X post, Musk addressed a lawsuit concerning his compensation package, stating that the pending verdict is a factor in ongoing discussions. The lawsuit, filed by Tesla shareholder Richard Tornetta in 2018, alleges that Musk used his influence over Tesla’s board to secure an outsized compensation package without committing to full-time work at the company.
