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Billionaire
In related news, Musk would like to get his hands on 25 percent of
- With 12 percent of the shares, Musk is now the main shareholder, but the businessman does not think that is comfortable enough. In a post on X, he revealed that he is "not comfortable growing
Tesla into a leader in AI and robotics without having about 25 percent control of the votes." -
Indeed, Musk is facing opposition. A
$55 billion investment package is being blocked by a shareholder. So according to Musk, that's a simple fix: "If I have 25 percent, it means I am influential, but can be dominated if twice as many shareholders vote against me than for me."- "At 15 percent or lower, the ratio of for and against to nullify me makes a takeover by questionable interests too easy," the top executive said.
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In his post, he also threatened not to pursue projects within
Tesla until he owns 25 percent.-
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Elon Musk , the car company is investing heavily in artificial intelligence (AI) and robotics: these include the Optimus robot, a human figure; and the Dojo project in which computers are trained to drive autonomously. In the latter project,Tesla is investing more than a billion dollars. -
After all,
Tesla is not one startup around cars, but several, Musk believes. So he calledTesla in 2021 "perhaps the leader in AI in the real world."
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Problems for
The problem: Shareholders no longer know exactly what
Tesla shareholders are dissatisfied with Musk's leadership. Complaints vary widely:- No clear succession plan.
- Musk allegedly distracted from his work because he is too concerned with X.
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The fact that Musk sold
Tesla shares to finance his purchase ofTwitter /X. - Various controversies surrounding drug use.
- The question of whether all sorts of side projects are distracting from producing cars.
Daniel Kollar , head of the automotive division of consulting firm Intralink, put it this way, "What isTesla ? An auto, energy or AI company? If it's not an AI company, then I see no problem in creating a new company."- But, he added to Bloomberg finely added: "That said, I don't see how Musk's behavior or language benefits any of his companies."
The Bigger Picture: Two additional problems.
- Car rental company
Hertz will swap electric vehicles, including manyTesla's , back to gasoline cars. Tesla must largely shut down vehicle production at itsBerlin plant due to theRed Sea conflict.
(evb)
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