In a post on X.com, owner of X.com and Telsa CEO Elon Musk (TSLA), claimed he was “”uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned.”” Musk currently owns 13% of Tesla, with his brother, Kimbal Musk, also sitting on the board of directors. Musk is currently in a battle over whether a previous compensation package was excessive, pending a court ruling from a Delaware Chancery Court.
Ross Gerber, Gerber Kawasaki Wealth & Investment Management CEO & President, joins Yahoo Finance to give his insight into Elon Musk’s potential move to have even more sway over Tesla.
When asked about Elon’s move for more control Gerber exclaims: “”The index funds owns 30% of Tesla. They don’t vote anything. Elon owns 13%. You see what I’m saying? There’s nobody that can take control of Tesla. There’s nobody. You would need hundreds and hundreds of billions of dollars of cash to buy the stock. So, the notion that he doesn’t control Tesla– Tesla’s the closest thing to a private company that’s a public company. Okay? It’s not run like regular public companies. Come on.””
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