Longtime Tesla bull says Elon Musk is ‘blackmailing’ Tesla investors by threatening to build new projects outside the electric car company

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Elon Musk is the CEO of Tesla, Twitter, and SpaceX.Reuters/Steve Nesius

  • Elon Musk’s demands for more control over Tesla in exchange for keeping the company’s AI project amount to “blackmail,” a long-time investor says.

  • Musk said he is not comfortable developing new projects in Tesla unless his stake is raised to at least 25%.

  • “Now he appears to be blackmailing Tesla shareholders, saying he won’t make things for us unless he gets another $30 billion.”

Elon Musk’s comments about increasing his stake in his own electric car company are bizarre and amount to “blackmailing” Tesla investors, according to the Verge website. Long time Tesla bull Ross Gerber.

In an interview with CNBC Gerber noted on Tuesday Share Mask on Xat any Tesla CEO He said he is “uncomfortable” with developing projects in robotics and artificial intelligence at Tesla unless his ownership stake is raised to at least 25%. Transferring such projects to another entity or company will have a significant negative impact on the company’s growth story, Analysts argued this week.

But the idea that Musk doesn’t actually have control over Tesla is “ridiculous,” Gerber said, given that Musk already owns 13% of the company, a stake worth about $150 billion. Previously, Musk previously owned 22% Nearly $40 billion worth of stock sold To help fund its purchase of Twitter at the end of 2022.

Musk’s stock options also bring his current stake in Tesla closer to 20%, Gerber estimates.

“It now seems like he’s blackmailing Tesla shareholders, saying he won’t make things for us unless he gets another $30 billion,” Gerber said. “Where in the world does paying $30 billion to a CEO make sense in the modern world, who already owns a $150 billion stake in the company?” He added later.

Gerber says Musk’s control of the company is supported by Tesla’s board of directors, which consists of “all his friends” and family members. My brother is caught Kimball Muskis one of these directors on Tesla’s board of directors. James Murdoch And former CTO of Tesla J.B. Straubel Other board members are also known Those close to Musk.

In practice, these connections put Tesla 100% under Musk’s control, Gerber said.

“The idea that he doesn’t control Tesla when everyone on the board is a friend of his or a family member is the part I push back on him. He controls Tesla more than anyone controls any company,” Gerber said. “So the idea that he needs more equity to do that seems strange to me.”

Last year, Musk launched an artificial intelligence company called xAI, a startup that aims to “advance our secret understanding of the universe,” according to a statement on its website. The company wants to raise $1 billion through a stock offeringhas already raised $135 million from investors, according to a recent Securities and Exchange Commission filing.

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