{"id":2150328,"date":"2024-01-16T11:45:02","date_gmt":"2024-01-16T16:45:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/musk-wants-25-voting-control-at-tesla-before-fulfilling-ai-goal\/"},"modified":"2024-01-16T11:55:09","modified_gmt":"2024-01-16T16:55:09","slug":"musk-wants-25-voting-control-at-tesla-before-fulfilling-ai-goal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/musk-wants-25-voting-control-at-tesla-before-fulfilling-ai-goal\/","title":{"rendered":"Musk aims for 25% voting power at Tesla prior to achieving AI objective"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmusk-wants-25-voting-control-at-tesla-before-fulfilling-ai-goal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2150328&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><strong>January 16, 2024 \u2013 7:24 AM PST<\/strong><\/p>\n<p>(Reuters) \u2013 Tesla\u00a0(TSLA.O)\u00a0CEO Elon Musk has made a bold statement, expressing his discomfort with growing the automaker&#8217;s presence in artificial intelligence and robotics without having significant voting control. He believes that having at least \u206325% voting control of the company \u2063is \u2063crucial for him to\u200c lead the charge \u200din these <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-china-and-russia-laughing-at-boris-johnsons-net-stupid-green-agenda-richard-tice\/\" title=\"Exclusive \u2013 China and Russia Laughing at Boris Johnson's 'Net-Stupid' Green Agenda: Richard Tice\">cutting-edge technologies<\/a>.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Musk took to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-new-acting-attorney-general-jeff-rosen-recently-wrote-an-essay-on-foreign-influence-in-us-elections-this-tells-us-a-little-about-his-knowledge-of-whats-going-on-today\/\" title=\"The New Acting Attorney General Jeff Rosen Recently Wrote an Essay on Foreign Influence in US Elections \u2013 This Tells Us A Little About His Knowledge of What\u2019s Going On Today\">social media platform<\/a> \u200cX, formerly known as Twitter, to express his stance. He stated that unless he receives a significant stake in Tesla\u2062 that grants him influence\u200d but doesn&#8217;t make\u200c him\u200b untouchable,\u200b he would prefer \u200dto focus on developing products outside of \u2064the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-cabinet-could-delay-tax-bills\/\" title=\"Biden's Cabinet Could Delay Tax Bills\">electric-vehicle manufacturer<\/a>.<\/p>\n<p>While Tesla is known for its groundbreaking &#8220;Full Self-Driving&#8221; software and humanoid robots, the majority of \u200cits revenue still comes \u2064from its automotive business.<\/p>\n<p>Industry analysts have recognized Tesla&#8217;s technological advancements, such as the Dojo supercomputer for AI training,\u200d as key drivers of the company&#8217;s valuation. Morgan Stanley analyst Adam Jonas even suggested that Dojo could increase Tesla&#8217;s\u200b market value by nearly $600 billion.<\/p>\n<p>Following \u200dMusk&#8217;s comments, Tesla&#8217;s \u2063shares experienced a 2% drop in premarket trading on Tuesday.<\/p>\n<p>Musk, currently the world&#8217;s richest person, currently holds around 13% of Tesla stock. He sold billions \u2062of dollars worth of shares in 2022 to finance his purchase of Twitter.<\/p>\n<p>In another X post, Musk expressed his willingness to \u2062consider a dual-class\u200b share structure \u200cto achieve his goal of obtaining 25% voting control. However, he claimed that \u2063this option was deemed impossible after Tesla&#8217;s\u200c initial public offering.<\/p>\n<p>He \u200cpointed out\u200d the discrepancy \u2062between Tesla&#8217;s situation and that \u200cof Meta, the parent company of Facebook, which allows founder Mark Zuckerberg and future generations\u2063 to \u200bmaintain control through a multi-class share\u200c structure.<\/p>\n<p>Companies with dual-class structures\u200b typically have different types of shares with varying voting rights, giving founders or early investors greater control.<\/p>\n<p>Tesla has not yet \u2062responded to \u2062requests for comment.<\/p>\n<p>Musk <a href=\"https:\/\/www.reuters.com\/business\/amid-twitter-turmoil-musk-takes-stand-56-bln-tesla-pay-trial-2022-11-16\/\">currently<\/a> faces a lawsuit over\u200c his compensation \u2062package. Tesla shareholder Richard Tornetta filed a lawsuit in 2018, alleging that Musk used his influence over Tesla&#8217;s board to secure an excessive compensation package that didn&#8217;t require him to work full-time at\u2063 the company.<\/p>\n<p>Musk clarified on X that there is no ongoing feud with the board regarding his compensation package, but the \u200dpending verdict is hindering further discussions.<\/p>\n<p><sup>Reporting by Chandni Shah and Akash Sriram in Bengaluru and Hyunjoo Jin in San Francisco; Editing by Subhranshu Sahu, Jamie Freed\u200d and Shounak Dasgupta<\/sup><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t<strong>Share this \u2063post!<\/strong>\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Donald Trump Jr. says there\u2019s no end to Democrats&#8217; depravity<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The House Committee On Small Business discusses possible solutions to rising\u2064 retail\u2064 crime across the U.S.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Governor Doug Burgum comes out in support for President\u2062 Trump just ahead of \u2062the Iowa caucus.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Iowans get ready to\u200c Caucus, Fani Willis plays her\u2063 Trump card, and Davos 2024 kicks off.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Tesla\u00a0CEO Elon\u2062 Musk emphasizes the importance of having at least 25% voting control to lead in AI and robotics.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Google faces a federal jury trial in Boston over allegations\u200b of patent infringement by its processors.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>OpenAI and Microsoft face a lawsuit in Manhattan\u2063 federal court for alleged \u200cmisuse of nonfiction authors&#8217; work in training AI models.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>SpaceX sues a U.S. labor board \u2062to block accusations of illegal employee firings, calling CEO Elon Musk a &#8220;distraction and embarrassment.&#8221;<\/strong><\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> How does Tesla&#8217;s situation \u2063regarding voting control compare to that of Meta, the parent company of\u200b Facebook<\/h2>\n<p><span>  January 16, 2024 \u2013 7:24 AM PST<\/p>\n<p>Tesla CEO Elon Musk Urges for Increased Voting Control in Artificial Intelligence and Robotics<\/p>\n<p>In recent \u2064developments, Tesla CEO Elon Musk has expressed his concern \u200cabout the automaker&#8217;s involvement \u2064in the fields\u200b of artificial\u200b intelligence (AI) and \u2063robotics, asserting the necessity of having significant voting control. Musk believes that obtaining at least 25% \u200cvoting control of the company \u2062is crucial \u200bfor him to lead the charge in these cutting-edge technologies.<\/p>\n<p>Musk took to the \u2064social\u2063 media platform \u200bX, formerly known as Twitter, \u2064to convey his stance on this matter. He\u2062 emphasized that unless he receives a substantial stake in Tesla that grants \u2062him \u200cinfluence but doesn&#8217;t make him untouchable, he would prefer to\u2064 focus on developing products \u2062outside of the electric-vehicle manufacturer.<\/p>\n<p>While Tesla is widely recognized for its groundbreaking &#8220;Full Self-Driving&#8221; software and humanoid robots, a significant \u200cportion of its revenue still stems from \u2063its automotive business.<\/p>\n<p>Industry analysts have acknowledged Tesla&#8217;s technological advancements, particularly the Dojo \u200csupercomputer for AI training, as key drivers of the company&#8217;s valuation. Morgan Stanley analyst Adam Jonas even suggested that Dojo\u200b could potentially increase Tesla&#8217;s market value by nearly $600 billion.<\/p>\n<p>Following Musk&#8217;s comments, Tesla&#8217;s shares experienced a\u2064 2% drop in premarket trading on Tuesday.<\/p>\n<p>Currently\u2062 the world&#8217;s richest person, Musk holds \u200daround 13% of Tesla stock. In 2022, he sold billions of dollars worth of shares to finance\u200c his acquisition of Twitter.<\/p>\n<p>In another X post, Musk expressed his willingness to consider a dual-class share structure \u200din order to achieve his goal of obtaining 25% voting control. However, he claimed that this option had been deemed impossible after Tesla&#8217;s initial public offering.<\/p>\n<p>Musk pointed out the\u200d discrepancy between Tesla&#8217;s situation \u2062and that of Meta, the parent company of Facebook, \u2062which \u200callows founder\u2064 Mark Zuckerberg and future generations to maintain\u200b control through a multi-class share structure.<\/p>\n<p>Companies with \u2064dual-class structures typically have different types of shares with varying voting rights, granting founders or early \u2063investors\u2062 greater control.<\/p>\n<p>As of now,\u200c Tesla has not yet responded to \u200crequests for comment regarding this matter.<\/p>\n<p>It is worth\u200d noting that Musk currently faces a lawsuit over his \u200ccompensation package. Tesla \u200cshareholder Richard Tornetta filed a lawsuit in 2018, alleging that Musk used his influence over Tesla&#8217;s board to\u2064 secure an excessive compensation package that didn&#8217;t require him\u200b to work full-time at the company.<\/p>\n<p>Musk clarified on X that there is no ongoing feud with the board regarding his compensation package.<\/p>\n<p>The situation surrounding Tesla&#8217;s\u2064 involvement in AI and \u2063robotics, as well as Musk&#8217;s desired level of voting control, remains fluid. It will \u2064undoubtedly be interesting to observe\u2063 how these developments unfold in the coming weeks and months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 16, 2024, at 7:24 AM PST, Elon Musk, CEO of Tesla (TSLA.O), expressed his discomfort with expanding the automaker&#8217;s presence in AI and robotics without having a minimum of 25% voting control, which is almost twice his current stake. He shared this on social media on Monday<\/p>\n","protected":false},"author":1911,"featured_media":2150329,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2150328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2150328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2150328"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2150328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2150329"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2150328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2150328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2150328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}