Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Latest Breaking News

Showing Original Post only (View all)

highplainsdem

(48,959 posts)
Tue Jan 16, 2024, 10:17 AM Jan 2024

Elon Musk demands another huge payday from Tesla [View all]

Source: CNN

Elon Musk says he wants a significantly larger stake in Tesla than the one that already made him the richest person on the planet.

In a series of posts on X Monday night, Musk said that he would not want to grow Tesla to become a leader in artificial intelligence and robotics without a compensation plan that would give him ownership of around 25% of the company’s stock. That would be about double the roughly 13% stake he currently owns.

“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,” Musk wrote in a post on X. “Unless that is the case, I would prefer to build products outside of Tesla.”

Notably, Musk held a stake of more than 20% in Tesla before he sold a large number of shares to buy X, the social media company he purchased over a year ago for $44 billion.

-snip-

Read more: https://www.cnn.com/2024/01/16/tech/elon-musk-tesla-pay-package/index.html

17 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Latest Discussions»Latest Breaking News»Elon Musk demands another...