Elon Musk Seeks 25% Voting Power For Influence In Tesla's AI, Robotics Ventures

In a post on the social media platform "X", Elon Musk has said that he needs at least 25 per cent of the voting power to feel "influential, but not untouchable" when leading Tesla's robotics and AI projects, according to Reuters. Additionally, he voiced concerns about growing Tesla's robotics and AI initiatives without gaining more internal voting power.

Additionally, Musk currently holds around 13 per cent of Tesla's stock, Musk envisions this increased control as a safeguard against potential "dubious interests” taking over the company and jeopardising its direction.

Further, Reuters reported that Musk's ambitious plans for Tesla's future extend beyond its core electric vehicle business. He champions Tesla's partially automated "Full Self-Driving" software and the development of humanoid robots but recognises the financial dependence on automotive sales.

A dual-class share structure, similar to that employed by Meta (formerly Facebook) was presented as a potential solution. This system grants different voting rights to different tiers of shares, allowing founders or early investors greater influence. However, Musk revealed being informed that implementing such a structure post-IPO would be impossible for Tesla.

This revelation sparked criticism from Musk, who compared the situation to Meta's "crazy multi-class share structure" that secures control for generations of Zuckerberg's descendants. He questioned the logic behind allowing such arrangements before a company goes public, while simultaneously restricting options for established entities like Tesla.

Musk's quest for increased voting control raises questions about the future of Tesla's governance and potential power struggles within the company. Whether he can navigate the complexities of post-IPO share structures and achieve his desired level of influence remains to be seen.