Elon Musk Strives for Enhanced Authority in Tesla’s AI Ventures
Elon Musk, the CEO of Tesla, has made it clear that he wants to have greater control over the direction of the company. Through recent statements on X, formerly known as Twitter, Musk revealed his aspiration to possess approximately 25% of the voting power in Tesla. This move, he argues, is crucial for him to maintain significant influence over the company’s advancements in the artificial intelligence (AI) and robotics sectors.
Alongside this development, Musk’s past and potential compensation packages have come into question. In 2018, he was granted a $56-billion deal, marking one of the largest CEO compensation packages ever. Currently, Musk holds around 13% of Tesla’s shares, a reduction from his previous 22% stake. He emphasizes that his interest lies more in wielding influence rather than financial gain. Musk believes that a 25% stake would grant him the necessary authority to effectively guide Tesla’s AI ventures while still being accountable for shareholder decisions.
Under Musk’s leadership, Tesla’s involvement in AI and robotics is broad and expanding. Products like the powerful AI supercomputer Dojo, advancements in Autopilot and Full Self-Driving software suites, and the early-stage robotics project, Optimus, demonstrate Tesla’s deep engagement in AI. However, it’s important to note that Tesla’s Autopilot and Full Self-Driving systems are still categorized as driver assistance technologies and have yet to achieve full autonomy.
Musk’s concerns about his influence over Tesla’s AI trajectory arise at a time when his other projects, such as X and Neuralink, are also making significant strides in AI technology. X has recently launched a large language model that rivals ChatGPT, while Neuralink is developing advanced robotics for automated surgery. These developments underscore the critical nature of AI in Musk’s broader business strategy.
The discussion surrounding Musk’s new compensation plan awaits the outcome of a court case regarding his 2022 compensation. Musk has expressed satisfaction with Tesla’s board but emphasizes the need for a resolution that ensures his desired level of influence within the company.