Anmol Nagpal

Elon Musk looks for 25% voting share at Tesla

World's richest man Elon Musk took to his social media site X (formerly known as Twitter) to express discomfort with his current shareholding in electric car manufacturer Tesla.

Source: X

I am uncomfortable growing Tesla to be a leader in AI & robotics without having 25 per cent voting control.

Source: AP

Enough to be influential, but not so much that I can’t be overturned. Unless that is the case, I would prefer to build products outside of Tesla.

Source: ELON MUSK

He also praised the Tesla board adding that his concern was due to the growth of artificial intelligence (AI) and robotics at the company.

Source: IMDB

Musk holds 13 percent of Tesla, and is willing to explore a dual-class voting structure to achieve the desired 25 percent voting control, as per his posts on X.

Source: Wikimedia Commons

He however said this structure would be a challenge to implement after the initial public offering (IPO) in Delaware.

Source: Tesla

If I have 25 per cent, it means I am influential, but can be overridden if twice as many shareholders vote against me vs for me.

Source: Britanica

At 15 per cent or lower, the for/against ratio to override me makes a takeover by dubious interests too easy.

Source: Bio.

At Tesla's AI Day in 2021, Musk underscored the company's role as a leader in real-world AI, going beyond its identity as an electric car maker.

Source: Britannica