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.
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.
I mean, we all know that the Board of Directors is basically Elon Musk proxies. Given today's index-fund based investing, most shareholders are completely ignorant of their ability and right to vote for board of directors or control politics to this degree.
I'm thinking Elon Musk might be able to pull this off. Not necessarily giving Elon Musk more money or shares per se, but the Board of Directors could give him more votes (ie: creating a new Elon Musk-exclusive class of shares with 25% voting rights). Unless the shareholders wakeup, this sort of thing would be pretty easy for the current Board of Directors to rubber-stamp and give to Elon.