Elon Musk Demands 25% Stake in Tesla to Lead AI and Robotics

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In a recent series of posts, Elon Musk expressed his desire to expand his ownership in Tesla, aiming for a stake of around 25% of the company's stock. This would be a significant increase from his current ownership of approximately 13%. 

Musk emphasized that he is uncomfortable with the idea of growing Tesla as a leader in AI and robotics without having substantial voting control. He stated that having around 25% ownership would allow him to be influential but not so dominant that he couldn't be overruled.

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Musk previously held a stake of over 20% in Tesla before selling shares to acquire X, the social media company he purchased for $44 billion over a year ago. Despite Tesla's leading position in electric vehicles, Musk believes the company's future lies in AI and robotics. He has emphasized the significance of developing a humanoid robot, which he believes could have more impact than the vehicle business over time.

The announcement of Musk's intention to increase his stake in Tesla comes after years without a new compensation plan. His previous plan, announced in 2018, was the largest pay package for any CEO in history, valued at $56 billion. 

This plan faced legal challenges, with shareholders suing Musk and Tesla over its excessive nature. Musk indicated that he is awaiting a ruling in this case before agreeing to a new pay package.

READ ALSO: US Sues Amazon Over Maintaining Power Monopoly On The Market

Musk also expressed concerns about his level of influence within Tesla, particularly regarding the potential influence of large asset managers who hold significant stakes in the company. 

He emphasized that having a 25% stake would provide him with influence while still allowing for the possibility of being overridden by other shareholders. Musk ruled out the possibility of implementing a dual-class voting system at Tesla, unlike some other tech companies, stating that it was a nonstarter for him.

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