“It is a big deal—I don’t want to find I have so little control I can be easily ousted by activist shareholders,” Musk said. “That is a major concern to me as I’ve mentioned in the past and I hope that is addressed at the upcoming shareholders meeting.”
I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. 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. You don’t seem to understand…
Tesla did not immediately respond to a request for comment.
“I think that, as I’ve mentioned before, I think my control over Tesla should be enough to ensure that it goes in a good direction, but not so much control that I can’t be thrown out if I go crazy,” he said.
Musk has been working without a base salary or annual bonus for years, after the Tesla board granted him a moonshot pay package once valued as high as $56 billion—the highest for a publicly traded CEO. However, that pay package was twice rescinded by a judge and Tesla has announced it formed a board committee to hash out next steps. With the delay in Tesla’s annual shareholder meeting, the company has not yet published a proxy report to shareholders, which typically includes executive compensation disclosures.
Deliveries were down 13% to 384,122, although there were some major developments noted.
Tesla executives did not address speculation about a Tesla investment in Musk’s xAI, nor did they address questions from retail investors about Musk’s involvement in politics and its impact on Tesla’s value.
“Elon the person has freedom of speech,” wrote one shareholder representing 47,000 shares. “The brand ambassador of Tesla does not. What is the board doing to distance Tesla from the private actions of its CEO?”
