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> TSLA and its board is preferred-stock controlled by Musk. Any source for this? I can’t find anything that says the Musk has enough voting power in Tesla to
by lotsofpulp 2y ago
> TSLA and its board is preferred-stock controlled by Musk.
Any source for this? I can’t find anything that says the Musk has enough voting power in Tesla to not need others’ votes:
https://www.techopedia.com/largest-tesla-shareholders https://www.techopedia.com/largest-tesla-shareholders
This is a pretty in depth analysis that shows that Musk needed retail votes for last year’s compensation and re-domiciling votes:
https://clsbluesky.law.columbia.edu/2024/07/01/how-tesla-pumped-the-vote/ https://clsbluesky.law.columbia.edu/2024/07/01/how-tesla-pum...
- rtkwe 2y agoTesla actually has a 1 share 1 vote right now but it also has super majority voting rules which means Musk's ~22% stake is nearly a veto unless the entire rest of the stockholders vote for a measure he's against. https://www.thestreet.com/investing/stocks/how-elon-musk-controls-tesla-with-only-a-minority-stake-14564491 https://www.thestreet.com/investing/stocks/how-elon-musk-con...
- lotsofpulp 2y agoThat is an Apr 2018 article. Elon has a substantially smaller share now. From first link in above post: > Elon Musk is the largest individual Tesla shareholder, with 410.79 million shares, representing 12.8% of Tesla ownership as of December 2024. https://www.secform4.com/insider-trading/1494730.htm https://www.secform4.com/insider-trading/1494730.htm