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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsElon Musk confirms his threat: give me 25% of Tesla or you don't get AI and robotics
Musk was sued in Delaware on his Tesla compensation package. The Delaware Chancery Court overturned Musk's outrageous Tesla compensation package. Musk and the Tesla board is attempting to get this package approved and ratified at the next stockholders meeting. Musk is threatening to punish Tesla if his package is not approved. This will be fun to watch
Link to tweet
https://electrek.co/2024/05/20/elon-musk-confirms-threat-give-me-25-of-tesla-or-no-ai-robotics/
Elon Musk appears to confirmed and even clarify what can be seen as a threat to Tesla shareholders: give me 25% of the company or I wont build AI and robotic products at the company, after making clear that the company is worthless without those.
In recent years, Musk has repeatedly stated that Tesla is an AI and robotics company. He has even said that Tesla is worth virtually nothing without self-driving, its main AI product.
More recently, the CEO has not only said that but has also been making moves to ensure that this is the only path for Tesla, like canceling the cheaper Tesla vehicle on the unboxed platform in favor of its upcoming Robotaxi.
Thats why it was really concerning when the CEO suggested that he is uncomfortable building AI products at Tesla unless he has 25% control over the company something he doesnt have right now partly because he decided to sell tens of billions of dollars worth of Tesla shares to buy Twitter.
Musk currently owns about 13% of Teslas shares. If his 2018 compensation package goes through, he will be closer to 18% assuming that he sells some shares to pay for taxes. It means that he would need another compensation package worth tens of billions or a new share class at Tesla to give him more control.
In recent years, Musk has repeatedly stated that Tesla is an AI and robotics company. He has even said that Tesla is worth virtually nothing without self-driving, its main AI product.
More recently, the CEO has not only said that but has also been making moves to ensure that this is the only path for Tesla, like canceling the cheaper Tesla vehicle on the unboxed platform in favor of its upcoming Robotaxi.
Thats why it was really concerning when the CEO suggested that he is uncomfortable building AI products at Tesla unless he has 25% control over the company something he doesnt have right now partly because he decided to sell tens of billions of dollars worth of Tesla shares to buy Twitter.
Musk currently owns about 13% of Teslas shares. If his 2018 compensation package goes through, he will be closer to 18% assuming that he sells some shares to pay for taxes. It means that he would need another compensation package worth tens of billions or a new share class at Tesla to give him more control.
Tesla is having issues due to Musk but the board is controlled by Musk. Musk is also wanting to move Tesla from Delaware to Texas to stop the Delaware courts from over ruling Musk's handpicked board.
This will be fun to watch
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Elon Musk confirms his threat: give me 25% of Tesla or you don't get AI and robotics (Original Post)
LetMyPeopleVote
May 2024
OP
Tetrachloride
(8,382 posts)1. the muggles vs the Malfoys
DBoon
(22,969 posts)2. "Always fire an indispensable person,"
Always fire an indispensable person, goes the old wisdom. Otherwise you become overly dependent on them.
https://www.linkedin.com/pulse/you-indispensable-youre-fired-well-maybe-mark-federman
Musk is past that point
SWBTATTReg
(23,943 posts)3. Read this article in your post. Good points made all around.
tanyev
(44,247 posts)4. I certainly wouldn't trust any AI produced by a company associated with Musk,
so .OK.
LiberalFighter
(53,353 posts)5. A self driving Tesla needs to crash into him.
Emrys
(7,784 posts)6. Headline buried the lede:
BREAKING: TESLA "WORTHLESS"--MUSK