Elon Musk is scared that he could be fired from Tesla

 Elon Musk is scared that he could be fired from Tesla, says he could be voted out by…

Elon Musk, the CEO of Tesla, has voiced apprehensions about the possibility of being ousted from his position at the company. During an earnings call on Wednesday, Musk highlighted the size of his stake in Tesla and the potential vulnerability it poses to his leadership role.

In Short

• Elon Musk has voiced about the possibility of being ousted from his position at Tesla.
• Musk emphasized that with a relatively small stake in Tesla, his position is at risk.
• The billionare currently owns approximately 13 percent of Tesla.

Elon Musk, the CEO of Tesla, has voiced apprehensions about the possibility of being ousted from his position at the company. During an earnings call on Wednesday, Musk highlighted the size of his stake in Tesla and the potential vulnerability it poses to his leadership role, according to a report by Bloomberg.

Musk, who owns approximately 13 percent of Tesla, emphasized that with such a relatively small influence, he could be at risk of being voted out by shareholder advisory firms, particularly mentioning Glass Lewis and Institutional Shareholder Services. In a somewhat joking manner, he referred to them as the extremist group ISIS, claiming they were influenced by "activists" with unconventional ideas.

The Tesla CEO expressed concerns about maintaining control and influence over the company, revealing that he might explore ways to increase his stake to at least 25 percent. Musk suggested the possibility of creating a dual class of shares, similar to companies like Meta Platforms, which he deemed as an "ideal" structure to secure a stronger influence without seeking additional economic benefits.

This revelation comes shortly after Musk's public appeal to Tesla's board for a substantial stock award. He recently sold nearly $40 billion in Tesla stock to cover taxes and support his acquisition of the social media platform Twitter, which he subsequently renamed X.

During the earnings call, Musk steered the conversation towards Tesla's potential in artificial intelligence (AI) and robotics, highlighting his commitment to these fields. He stated that without a minimum 25 percent stake in Tesla, he would pursue the development of AI and robotics products elsewhere.

While Musk discussed new opportunities and future prospects, it remains to be seen how these concerns about potential removal from Tesla's leadership will impact the company's trajectory and the electric vehicle industry as a whole.

Besides, it is worth noting that Elon Musk already owns and runs several companies. He bought the popular social media platform, X (previously Twitter) for $44 billion. He also runs companies like Tesla, SpaceX, The Boring Company, and Neuralink.