CNBC AI News, August 10th – Elon Musk has publicly voiced concerns about his grip on Tesla, sparking speculation he could be ousted from the company.
The turmoil stems from Musk’s open apprehension regarding his stake in the electric vehicle and AI powerhouse.
Musk, in a recent post on social media platform X, declared his current ownership stake of approximately 12.8% insufficient to secure his dominant position at Tesla.
He expressed concern that, after the company produces “millions of robots,” he could be ousted by activist shareholders.
A recent post circulated suggesting Musk owned 21.2% of the company and that a significant portion was potentially collateralized for loans.
Musk clarified, “For the record, I have zero personal loans secured by Tesla stock.”
He further elaborated that the taxation rate on his stock options approaches 45%, translating to a net voting control increase of only around 4%.
Musk stated his desire to possess approximately 25% of the company’s shares to wield sufficient influence in guiding Tesla’s strategic direction.
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