Elon Musk Increases Tesla Stake to Secure Control Over AI, Robotics Vision
Austin, TX – Elon Musk is increasing his ownership in Tesla, a move directly tied to retaining significant voting control over the company’s future direction in artificial intelligence adn robotics. The move comes after musk signaled he would pursue ventures outside of Tesla if he lacked sufficient voting power – specifically, more than 25% of the company’s shares.
Musk expressed his concerns as early as January 2024 on his social media platform X, stating he was “not cozy to expand Tesla into a leading group in the areas of AI and robotics without having over 25 percent of the voting rights.” He clarified that his current stake provided influence, but not enough to avoid being “overruled or overthrown.”
To address this, Tesla is offering Musk an “unprecedented remuneration package” – a substantial stock grant – which shareholders will vote on in November. The package includes not only significant financial compensation but also increased power and control within the company. According to analysis by the Süddeutsche Zeitung, the deal aims to “give Musk near Tesla the power he wanted: in terms of artificial intelligence and robotics to create a world as he imagines it.”
Tesla’s Board of Directors, led by Robyn Denholm, has outlined Musk’s vision as one focused on “using technology to create a world in which goods and services are produced in abundance,” perhaps leading to a future reliant on humanoid robots and positioning Musk as the world’s first trillionaire by 2035. The full bonus package is contingent on tesla achieving several enterprising targets.
The prospect of Musk becoming the first trillionaire has drawn criticism, including from Pope leo XIV, who recently commented on the widening gap between executive and worker compensation. “CEOs, who may have been four to six times earned 60 years ago as the workers, now earn 600 times as much,” the Pope stated. ”Yesterday, the news came that elon Musk would be the first trillionaire of the world,” he continued, adding, “If that’s the only thing that still has a value, we have a big problem.”
