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Musk Says He Could Be “Ousted” from Tesla

Musk just dropped a pretty shocking comment — he says his control over Tesla is “precarious” and he could actually be removed. Apparently, he only owns about 12.8% of the company right now, and he thinks that’s not enough to keep a strong grip, especially if activist shareholders decide to push him out once Tesla starts rolling out “millions of robots.” Some people thought he had 21.2%, but Musk said a chunk of that was used for other purposes and clarified he doesn’t have loans tied to Tesla stock. He also pointed out that taxes on his stock options are close to 45%, so any gains in voting power aren’t as big as they look — only about a 4% net bump. Musk says he ideally wants to own about 25% to feel secure in steering Tesla’s direction. Feels wild to think the guy who is Tesla in most people’s minds might not even have the votes to call the shots in a few years. #Tesla #Musk