Elon Musk Seeks Increased Voting Control at Tesla for AI Leadership

Tesla CEO Elon Musk expressed his discomfort with steering the automaker into a leadership position in artificial intelligence and robotics without obtaining at least 25% voting control of the company, nearly double his current stake.

In a post on the social media platform X (formerly Twitter), Musk stated that he would prefer to build AI and robotics products outside of Tesla unless he received stock that is “enough to be influential, but not so much that I can’t be overturned.” Currently, Musk owns around 13% of Tesla stock, and he emphasized the need for increased influence to pursue ambitious projects.

Musk has been a vocal advocate for Tesla’s partially automated “Full Self-Driving” software and the development of humanoid robots. However, the majority of Tesla’s revenue still comes from its automotive business.

Considering a dual-class share structure, Musk expressed his willingness to adopt such a system to achieve the desired 25% voting control. He mentioned the perceived inconsistency in allowing certain structures pre-IPO, citing Meta’s multi-class share structure, while restricting similar arrangements post-IPO.

Tesla has not provided an immediate response to Musk’s statements.

The CEO is currently facing a lawsuit over his compensation package, with a shareholder aiming to prove that Musk used his influence over Tesla’s board to secure an outsized compensation package without full-time work commitments. Musk clarified that there is no “feud” with the board regarding his compensation and suggested that the pending verdict is impeding further discussions.

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