Musk also highlighted Tesla's diverse projects, including the Optimus robot and the Dojo supercomputer project. However, Tesla shares have declined by 12% this year, leading to a loss of over $94 billion in market valuation. Musk is facing shareholder dissatisfaction on various fronts, including his involvement with X, the platform formerly known as Twitter. He also addressed a lawsuit concerning his compensation package, filed by shareholder Richard Tornetta in 2018, which alleges that Musk and the board colluded to secure an oversized compensation package without requiring Musk to work full-time at Tesla. The legal proceedings are ongoing.
Key takeaways:
- Elon Musk expressed discomfort with his current shareholding in Tesla, stating he would prefer to have around 25% voting control to be influential but not so much that he can't be overturned.
- Musk praised the Tesla board and expressed concern over the growth of AI and robotics at the company. He holds 13% of Tesla and is open to a dual-class voting structure to achieve the desired voting control.
- Musk highlighted Tesla's diverse projects, including the Optimus robot and the Dojo supercomputer project, emphasizing Tesla's role as a leader in real-world AI, beyond its identity as an electric car maker.
- After a remarkable doubling in 2023, Tesla shares have declined by 12% in the current year, leading to a loss of over $94 billion in market valuation. Musk is facing shareholder dissatisfaction on various fronts, including his involvement with the platform formerly known as Twitter.