- 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.
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.
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.
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.