Elon Musk Says He Might Leave Tesla If He Does Not Obtain More Shares

NTD News ^ | January 19, 2024 | Efthymis Oraiopoulos

[Navy Patriot]

Tesla Inc. CEO Elon Musk has said he wants a 25 percent share in Tesla, and that otherwise he would prefer to build products outside of the company, regarding it as an AI and robotics firm rather than an auto company.

As CEO of Tesla and SpaceX and owner of Twitter/X, Mr. Musk currently holds a 13 percent share in Tesla, or approximately 411 million of the company’s 3.19 billion shares, according to its 2023 third quarter financial report.

Mr. Musk said in a post on his social media platform: “I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25 percent voting control. Enough to be influential, but not so much that I can’t be overturned.”

[Navy Patriot]

Very interesting and very indicative of where Tech development is going.

[Fledermaus]

Frozen EVs not a good idea.

[ClearCase_guy]

People have figured out that EVs suck, so he’ll bail.

We all knew he was smart.

[Navy Patriot]

Agree, that is why Musk want’s to minimize Tesla’s EV business and expand into AI, Robotics and other high tech.

[Navy Patriot]

Yep.

[Eccl 10:2]

It’s risks like these that have kept me from buying any TSLA stock.

[Sacajaweau]

I've been saying he'll bail for a while now. After reading a couple of his bios...that's almost one of his MOs.

He plows ahead...regroups....if failures arise...he bails.

[Bonemaker]

Sell and get out while you can Elon! The EV scam is going collapse.

[JudyinCanada]

Exactly what I thought. President Trump has certainly done a lot to curb the EV market. The pics of the fires, the lines at charging stations, the lack of charging stations, and, my personal favorite, $25,000.00 to replace a battery. I figured the end of this would be soon.

[Pox]

Someone made their fortune in that area, and now sees the writing on the wall.

Get out while the getting’s good!

[blackdog]

The dreaded automobile kill switch shows itself. I’m disappointed it turned out to be the normal weather?

[Navy Patriot]

There is considerable evidence that your analysis is correct.

[MinorityRepublican]

Sell and get out while you can Elon! The EV scam is going collapse.

It'll collapse or the government will force us to buy EVs.

To be honest with you, I dunno what will happen. America is big enough and we are stubborn enough not to buy EVs. The last time they tried to force us to do something like this was when they tried to make us adopt the metric system back in the '70s.

[Navy Patriot]

There is considerable evidence that your analysis is correct.

[Andy from Chapel Hill]

Agree.
He needs a reason to sell his position and move on before it collapses.

[Jonty30]

Are you forgetting the Susan B Anthony dollar?

[blackdog]

EV’s have their place in the public fleet of transportation. Then the government had to get involved under Bidens cabal of greedy idiots. As soon as government incentives arrived, death was inevitable.

[allendale]

Wonder what Musk really thinks about EVs.

[dynoman]

I bought and am up nearly 100%.

[Rockingham]

Musk is over-extended but has the potential to gain a big payday by putting Tesla into play for a takeover and cash out. Tesla is a genuine leader in its industry, even if that industry is currently in a tough spot due to the technological limitations of electric vehicle batteries. Since battery technology is advancing rapidly, Tesla has the potential for massive upside if new owners can keep it going and in good order.