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Home BUSINESS

Musk’s 25% Stake Demand in Tesla Stirs Investor Concern

BlockNews.com Team by BlockNews.com Team
January 16, 2024
in BUSINESS, FINANCE, TECHNOLOGY
Reading Time: 2 mins read
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  • Elon Musk wants 25% voting control of Tesla before expanding its AI and robotics efforts, sparking backlash among investors.
  • Musk believes this control is needed to keep Tesla’s promising AI projects in-house, comparing it to tech giants like Google.
  • Despite reducing his stake recently, Musk is deeply tied to Tesla. But his unpredictable nature means more drama likely lies ahead regarding his ownership and the company’s AI plans.

Elon Musk recently made comments about wanting 25% voting control of Tesla before expanding its artificial intelligence and robotics efforts. This has caused concern among investors and analysts.

JUST IN: Elon Musk demands 25% voting control of Tesla for AI and robotics expansion

Speculators believe Musk could take these initiatives outside the company if not met 👀 pic.twitter.com/zWiupxYrSN

— BlockNews.com (@blocknewsdotcom) January 16, 2024

Musk’s Rationale

Musk said he wants enough control to be influential but not so much he can’t be overturned. He believes Tesla is far more than just a car company, comparing it to tech giants working on AI like Google. Musk wants to ensure AI projects stay within Tesla.

Investors’ Reaction

Musk’s comments have sparked a “firestorm,” according to analyst Dan Ives. Musk currently owns 13% of Tesla. Getting 25% voting control could force a major payout or restructuring. Some investors are drawn to Tesla’s AI potential. They don’t want Musk taking these projects outside of Tesla.

Musk’s Ownership History

Ironically, Musk has been reducing his Tesla stake. He sold about $100 million in shares in 2022 to help purchase Twitter. A lawsuit over his pay package also complicates matters. Still, Ives believes this drama won’t amount to anything. “Musk is Tesla and Tesla is Musk,” he wrote.

Conclusion

Musk’s controversial remarks have frightened some investors. However, Tesla remains deeply intertwined with its CEO. It seems unlikely Musk would abandon the company’s promising AI developments. But his unpredictable nature means investors should brace for more drama ahead.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BusinessElon MuskGoogleteslatwitter
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BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

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