Elon Musk demands 25% ownership of Tesla, threatens to halt AI and robotics development

American businessman and investor, Elon Musk is demanding 25% ownership of Tesla and has also threatened to halt artificial intelligence (AI) and robotics development for the company.

Musk made the demand in a recent post shared on his official X handle, which appears to confirm and even clarify what can be seen as a threat to Tesla shareholders.

Recall that Musk had asserted in the past that Tesla is a robotics and AI company on multiple occasions. The billionaire businessman also declared that without self-driving, its primary AI product, Tesla is essentially nothing.

READ ALSO:Elon Musk seeks to charge new X users to allow them post

In a recent post on X, Musk appears to confirm his previous threat while agreeing to three conditions that would prevent him from diverting AI and robotics projects away from Tesla:

The post confirmed by Musk reads; ‘‘If Elon gets 25% voting power, Tesla is reincorporated in Texas, and compensation package is approved, then AI & Robotics stay within Tesla and the company can march forward to become the largest company in the world.’’

Musk’s proposal comes at a crucial time for Tesla, as the EV manufacturer is finally under pricing pressure and its stock is experiencing considerable volatility. The company’s profits have also dropped by 55% as a result of increased competition.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now