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Elon Musk gives Tesla ultimatum: Another 12% of shares or no AI, robotics

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Elon Musk gives Tesla ultimatum: Another 12% of shares or no AI, robotics

Enlarge (credit: JIM WATSON/AFP/Getty Images/Aurich Lawson)

Elon Musk says his ambitions to make Tesla more than just an automaker depend on him gaining far more control over the company. The controversial CEO took to his social media platform X to say that unless he is awarded another 12 percent of the company, which would give him ownership of 25 percent of Tesla, he would be "uncomfortable growing Tesla to be a leader in AI & robotics."

Failing that, Musk said he would "prefer to build products outside of Tesla," then questioned why large institutional investors in Tesla like Fidelity "don't show up to work," seemingly confused by the difference between an individual with a job and a company that owns assets.

For 2022—the last year for which full financial results are available—95 percent of Tesla's revenues came from its automotive activities.

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