Thursday, June 20, 2024
HomeTechElon Musk's Tesla Stake Now Worth Over $120 Billion, Eyes Greater Control

Elon Musk’s Tesla Stake Now Worth Over $120 Billion, Eyes Greater Control

Elon Musk’s ownership in Tesla, now valued at just over $120 billion, has been officially documented in a recent SEC filing, revealing he holds a 20.5% stake in the electric vehicle giant. This figure marks a slight decrease from the 22% stake Musk maintained before his high-profile acquisition of Twitter for $44 billion, signaling his ongoing commitment to Tesla amidst expanding business ventures.

The filing detailed Musk’s holdings, including 411.06 million shares of Tesla common stock and options for an additional 303.96 million shares exercisable within the next 60 days. This substantial stake underlines Musk’s ambition to secure a more dominant position in Tesla’s decision-making processes, aiming for a 25% share that he believes would ensure his influential presence in the company’s future direction, especially as it ventures further into robotics and artificial intelligence.

Musk’s quest for greater control is not just a power play but a strategic move to align his vision with Tesla’s expansive projects. Last month, Musk expressed his stance via Twitter, stating his preference to lead Tesla into AI and robotics with a significant but not overpowering voting control, hinting at the possibility of pursuing these interests independently if his desired stake isn’t achieved.

The billionaire’s journey to amassing this level of ownership has been significantly bolstered by his groundbreaking 2018 compensation package. Despite legal hurdles, this deal promised Musk chunks of Tesla stock upon reaching various market cap milestones, contributing to his status as the wealthiest individual globally, with assets spanning Tesla, SpaceX, and X.

As Tesla’s stock enjoys a 2.3% increase in Thursday morning trades, Musk’s financial maneuvers and visionary leadership continue to captivate the world, showcasing the intertwining of ambitious personal goals with groundbreaking technological advancements. This blend of innovation and strategy not only cements Musk’s influence over Tesla but also highlights the intricate dance of power, wealth, and the future of mobility and technology.