by Musk plans to increase his stake in Tesla
Elon Musk does not intend to leave his position as CEO of Tesla, despite dissatisfaction from shareholders who are concerned about his other projects, particularly his involvement in global politics. He also aims to increase his stake in the company to 25% to ensure control and avoid the possibility of being ousted by investors.
During his speech at the Qatar Economic Forum, Musk stated that he is confident in his role as CEO for at least the next five years, unless something insurmountable happens. Meanwhile, some members of Tesla’s board of directors, according to rumors, have already begun searching for a new leader, as they are troubled by Musk’s excessive focus on politics, particularly his ties with former U.S. President Donald Trump.
“It’s not a question of money. It’s a question of sensible control over the company’s future. 25% is the level at which I would feel comfortable, as it would give me enough influence but not too much, so that I couldn’t be fired if I started destroying the company or behaving unwisely,” Musk noted.
According to the Wall Street Journal, Musk currently owns 12.77% of Tesla’s shares, worth over $140 billion. However, he wants to double his stake to protect himself from pressure by activist investors. Additionally, Musk admitted that in the future, he plans to reduce political expenditures, despite spending nearly $300 million last year to support Trump.
Despite the controversies, it is important to note that under Musk’s leadership, Tesla has transformed from a small electric vehicle manufacturer into one of the market leaders. The company has not only significantly increased production volumes but has also become the most valuable automotive brand in the world by market capitalization. Recent events show that Musk is trying to find a balance between his personal interests and Tesla’s stability, which may elicit both support and new waves of criticism.
