Will Elon Musk be fired from his position at Tesla? CEO voiced apprehensions
World’s richest man and CEO of Tesla, Elon Musk is quite skeptical about his position in the company and is even apprehensive about being ousted from the post.
World’s richest man and CEO of Tesla, Elon Musk is quite skeptical about his position in the company and is even apprehensive about being ousted from the post. Musk voiced that due to his size of stake in the Tesla, he might lose the post of CEO, reported Bloomberg. The incident occurred during an earning call few days back.
Currently Elon owns 13 percent of Tesla and emphasized that due to such small influence, he might get voted out by shareholder advisory firms, particularly indicating Glass Lewis and Institutional Shareholder Services. In a joking manner, Elon referred the above-mentioned companies as extremist group ISIS (as they were influenced by activists with unconventional ideas).
Musk also highlighted that he might explore ways to increase his stake to at least 25 percent in the company. This will help to maintain his control and influence over the company. He also suggested on the possibility of creating a dual class of shares which was similar to companies like Meta Platforms.
It is noteworthy to mention that Elon Musk has recently sold $40 billion in Tesla stock to cover taxes and support for acquiring Twitter (now called X). During the earning meeting, Musk also highlighted Tesla’s potential in AI and robotics. He also mentioned that without a minimum of 25 percent stake in Tesla, he would focus on the development of AI and robotics somewhere else. It remains to be seen whether Elon Musk will continue as the CEO of Tesla or will be removed from the post.
Ms Kalinga