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Monday, July 15, 2024

Musk wants 25% voting control at Tesla before fulfilling AI goal

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  • Tesla shares rebounded from early losses after CEO Elon Musk said he wants 25% voting control before advancing Tesla’s position in artificial intelligence (AI).
  • Musk said in an X (formerly Twitter) post that he is “uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control.”
  • Wedbush analysts said although Musk owns about 13% of Tesla currently, they anticipate “the Board and Musk will be able to resolve this issue over the next 3-6 months.”

Tesla (TSLA) shares rebounded from early losses Tuesday after CEO Elon Musk said that he wants 25% voting control of the electric vehicle (EV) maker before advancing Tesla’s position in artificial intelligence (AI).1

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