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Musk posted on Twitter he would be uncomfortable running Tesla without at least a 25% voting control of the company. On a subsequent post, he added that he woul
by cs702 3y ago
Musk posted on Twitter he would be uncomfortable running Tesla without at least a 25% voting control of the company. On a subsequent post, he added that he would be fine with a dual class voting structure to achieve his goal of getting 25% voting control, but was told it was impossible after the initial public offering in Delaware.
Musk currently owns around 13% of Tesla stock.
Think what you will of him, he sure keeps things interesting.
- steveBK123 3y agoI guess that's certainly an interesting opening move in comp negotiations - demand 2x the voting rights he currently holds. Occam's razor .. he wants supervoting shares so that if/when/very soon in the future when he needs to sell more stock to fund some of his more recent, deep-in-the-hole investments, he can do so without eroding his current 13% vote.