Elon Musk, CEO of Tesla, admitted that he believed his share in 13 % ownership of the electric car manufacturer makes him vulnerable to active shareholders who can move to overthrow him from a trillion dollars. However, he admitted that he should not have a lot of control over Tesla so that the plate cannot shoot him if he is “crazy” Profit call Wednesday.
Musk said: “It is a big deal – I do not want to find a little control that can be easily expelled by active shareholders.” “This is a great concern for me, as I mentioned in the past, and I hope that it will be taken at the next shareholder meeting.”
I am uncomfortable with cultivating Tesla to be a pioneer in Amnesty International and robots without facing about 25 % of the voting control. Suffice it to be influential, but not so much that I cannot turn.
Unless this is the case, I prefer to create products outside Tesla. You don’t seem to understand … – Elon Musk (Elonmusk) January 15, 2024
Musk owns 13 % of Tesla, a share valued at about $ 139 billion. He previously stated that he wanted to own 25 % of the manufacturer of electric cars because it expands to artificial intelligence with full driving and full robots. The value of this share is about 267.5 billion dollars, and it will be limited to the adult institutional investors in Tesla such as Vanguard and Blackrock. Musk in the past about the impact of active investors or consulting companies that lead Tesla on the wrong path in the long run at the expense of short -term pressures.
However, Tesla currently maintains a defensive position against activists. Its regulations call for the so -called super voting requirements, which means that the shareholders ’votes must achieve support from two -thirds of all the shares due (66.67 %) instead of a 50 % majority for traffic. Council committed Last year, to Tesla shareholders, it will cancel the superpowers of the super voting, but it was unable to mobilize enough investor participation.
Tesla has modified its own regulations in 2023 to provide shareholders with the rights of the agent, which means that the shareholder or a group of shareholders own 3 % or more of Tesla for at least three years they can nominate directors to the Tesla Board of Directors. The value of this size will be more than $ 20 billion. Securities and Stock Exchange Committee rules In order to disclose their shares in the company’s shares once they reach 5 %, which is also the point that activist usually can obtain credibility with the council. The value of 5 % in Tesla is more than $ 30 billion. Compared to, legendary activist Nelson Bilz I took The Walt Disney Council after building a quota estimated at about 3.5 billion dollars at its peak. Investors usually target active investors Small companies circulated publicly.
Tesla did not immediately respond to a request for comment.
Musk shared his view of his share in his ownership in response to an analyst about the convenience of the CEO of Tesla’s development in new directions with only 13 % stake. Musk referred to the annual shareholders meeting It will be held November 6, as a possible issue for broadcasting after that.
He said: “I think, as I mentioned before, I think my control over Tesla should be sufficient to ensure that you go in a good direction, but not to control that so much that I cannot get rid of it if I feel crazy.”
Musk works without a basic salary or an annual reward for years, after the Tesla Council has given it a time -payment package of $ 56 billion – higher for the CEO of the public. However, this payment package was canceled twice by the judge and Tesla announced that it had formed the Board of Directors to divide the following steps. With the delay in the annual shareholders meeting in Tesla, the company has not yet published an agent report to shareholders, which usually includes the disclosure of executive compensation.
Timing I mentioned Mixed results in the second quarter Financial data Wednesday. profit Decline 12 % year on an annual basis to $ 22.5 billion, the worst revenue performance in the past decade. The operating income decreased by 42 % year on an annual basis to less than one billion dollars, although Tesla was still profitable of $ 1.2 billion in net income of the principles of acceptable accounting in general. Meanwhile, the free cash flow occupied 89 % year on an annual basis to 146 million dollars, compared to $ 1.3 billion during the same quarter of last year.
Delivery operations decreased by 13 % to 384122, although there are some major developments.
Tesla launched its volatile robotics pilot in Austin, and has strengthened her ability to train in artificial intelligence. Separately, Tesla opened a new dinner and a huge engine a theater in Hollywood this week.
Tesla executive officials did not address speculation about Tesla Investing in Musk’s Xai, and they have not dealt with questions from retail investors about Musk’s participation in politics and its impact on the value of Tesla.
Retail investors publish questions on An open platform For the shareholders in Tesla called a sword before profit versions. I had many associated with musk to compensate him and the council’s plan to supervise the future political moves of Musk.
“Eleon the person has freedom of expression”, a shareholder represented 47,000 shares. “The brand’s ambassador in Tesla does not.
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