Elon Musk continues to raise concerns over his control of Tesla as its CEO and one of its founders, as activist shareholders seem to be a viable threat to the company in his eyes.<\/p>\n
Musk has voiced concerns over voting control of Tesla and the possibility of him being ousted by shareholders who do not necessarily have the company’s future in mind. Instead, they could be looking to oust Musk because of his political beliefs or because of his vast wealth.<\/p>\n
We saw an example of that as shareholders voted on two separate occasions to award Musk a 2018 compensation package<\/a> that was earned as Tesla met various growth goals through the CEO’s leadership.<\/p>\n Despite shareholders voting to award Musk with the compensation package on two separate occasions, once in 2018 and again in 2024, Delaware Chancery Court Judge Kathaleen McCormick denied the CEO the money both times. At one time, she called it an “unfathomable sum.”<\/p>\n Musk’s current stake in Tesla stands at 12.8 percent, but he has an option to purchase 304 million shares, which, if exercised, after taxes, he says, would bump his voting control up about 4 percent.<\/p>\n However, this is not enough of a stake in the company, as he believes a roughly 25 percent ownership stake<\/a> would be enough “to be influential, but not so much that I can’t be overturned,” he said in January 2024.<\/p>\n I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can\u2019t be overturned.<\/p>\n Unless that is the case, I would prefer to build products outside of Tesla. You don\u2019t seem to understand\u2026<\/p>\n \u2014 Elon Musk (@elonmusk) January 15, 2024<\/a><\/p><\/blockquote>\n\n