Musk wants a bigger share in Tesla to grow AI, robotics business
Elon Musk wants more control of Tesla, the electric vehicle (EV) manufacturer that made him a multi-billionaire, to advance its position as a leader in artificial intelligence (AI) and robotics technology.
The outspoken CEO and co-founder of Tesla used X (formerly Twitter), the social-media platform he owns, to share his discomfort about growing these technologies within the company without having more of a financial stake and thus voting control with Tesla's board.
Musk currently has a 13% share in the company, which overall has a market cap of $764.37 billion.
"I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control," Musk said on X. This share is "enough to be influential, but not so much that I can’t be overturned," which means others could veto any of his technology decisions.