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.
Just casually asking for a roughly 80 Billion dollar pay raise. But at this point would Tesla be better off without him?
This is the best summary I could come up with:
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.
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.
In January 2022, he said on a call with Wall Street analysts that he believes the company’s goal of building a humanoid robot is the most important technology it’s developing.
Nevertheless, Tesla believes in a robot-led future, and investors have sent the stock surging over the past year in the hopes that Musk & Co. can deliver innovations that propel the company to new heights.
The deal was so large that Musk and Tesla faced a shareholder lawsuit over the package last year, and they continue to await a Delaware Chancery Court ruling on whether the pay was excessive.
Musk and the Tesla board of directors were accused of breaching their fiduciary duties for waste and unjust enrichment.
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