(Bloomberg) — Elon Musk said he would prefer to develop AI products outside Tesla Inc. unless he has 25% voting rights, suggesting the billionaire may prefer a larger stake in the world's most valuable electric vehicle maker.
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Tesla's CEO, who currently owns more than 12% of the company according to Bloomberg, argued in a post on X that the car company is a collection of a dozen startups. He called for a comparison between Tesla and General Motors Corp., traditionally one of the world's leading automakers.
Musk, Tesla's largest individual shareholder, did not elaborate on his thinking. The world's richest person is grappling with shareholder discontent over a range of issues, from Tesla's succession planning to accusations that he was distracted by his work with X, the platform formerly known as Twitter that he took over in 2022.
“I'm uncomfortable making Tesla a leader in AI and robotics without controlling about 25% of the voting power,” the CEO wrote on X. “Enough to be influential, but not so much that I cannot be overthrown.”
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