Tesla’s CEO Elon Musk declared on Monday his desire for a 25% voting control of the company, expressing discomfort with the idea of expanding artificial intelligence (AI) and robotics initiatives at Tesla without such influence.
According to Reuters, Musk on his social media platform X (formerly Twitter), stated that for the growth of AI/robotics at Tesla, he would prefer having stock that grants him “enough to be influential, but not so much that I can’t be overturned.”
Currently holding around 13% of Tesla’s stock, Musk indicated a threshold for voting control that aligns with his vision for the company’s future.
In a separate post, Musk expressed openness to a dual-class voting structure to achieve the 25% goal. However, he noted being informed that such a structure was deemed impossible post the initial public offering in Delaware.
The Tesla CEO’s announcement comes amid ongoing legal challenges. Musk is currently facing a lawsuit over his compensation package. Shareholder Richard Tornetta filed the lawsuit in 2018, aiming to demonstrate that Musk leveraged his influence over Tesla’s board to secure a compensation package that did not require his full-time commitment.
