🕷️ Crawler Inspector

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Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 84 (from laksa075)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa084.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.nytimes.com\/2024\/01\/16\/business\/tesla-elon-musk-stock.html","crawl_time":1772977908,"first_indexed_time":1705415957,"http_code":200,"src_unparsed":"com,nytimes!www,\/2024\/01\/16\/business\/tesla-elon-musk-stock.html s443","src_root_hash":"4566504020376537684","history_drop_reason":null,"meta_title":"Musk Demands Bigger Stake in Tesla as Price for A.I. Work - The New York Times","meta_descriptions":["Elon Musk, the electric car company’s chief executive, said he would “build products outside of Tesla” unless the board raises his stake to 25 percent."],"attrs_boilerpipe_text":"Advertisement\nSKIP ADVERTISEMENT\nElon Musk, the electric car company’s chief executive, said he would “build products outside of Tesla” unless the board raises his stake to 25 percent.\n“I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Elon Musk, Tesla’s chief executive, wrote in a social media post.\nCredit...\nAmir Hamja\/The New York Times\nJan. 16, 2024\nElon Musk, the chief executive of Tesla, stunned investors by demanding that the company’s board give him shares worth more than $80 billion if it wants him to continue developing products based on artificial intelligence.\nIn the latest demonstration of his disregard for conventional ways of communicating with investors, Mr. Musk said late Monday on X, the social media site he owns, that he needed to own 25 percent of Tesla to avoid takeovers and have enough control of the company as it develops robots and other artificial intelligence technology.\nIf his demands are not met, Mr. Musk said, he would pursue unspecified ventures outside of Tesla. In addition to electric cars, Tesla has been developing a humanoid robot called Optimus, and uses artificial intelligence to develop self-driving technology, a cornerstone of the company’s strategy. Those businesses belong to Tesla, and Mr. Musk could not simply walk away with them.\nThe company’s stock market valuation of almost $700 billion — more than twice as much as Toyota Motor, the world’s largest automaker by annual car sales — is predicated in part on investors’ belief that the company will lead the rest of the industry in developing cars that can drive from place to place without human intervention. Investors are also betting that advanced automation will allow Tesla to manufacture cars much more efficiently and profitably than rivals.\nMr. Musk owns 13 percent of Tesla after selling a substantial portion of his stake to finance his $44 billion acquisition of Twitter, which he renamed X. The social media site has struggled under his leadership and has plunged in value. An additional 12 percent of Tesla would be worth $83 billion at the current share price, effectively recouping Mr. Musk’s investment in Twitter — which he has said he regrets — and then some.\n“I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Mr. Musk wrote on X. “Enough to be influential, but not so much that I can’t be overturned.”\nHe went on: “Unless that is the case, I would prefer to build products outside of Tesla.” But he also said the board would take no action until a Delaware judge ruled in a\nlawsuit\nbrought by a Tesla shareholder challenging an earlier compensation plan that was instrumental in making Mr. Musk the richest person in the world.\nMr. Musk\ntestified in the Delaware case\nin late 2022. Gregory Varallo, who represents shareholders in the lawsuit, said he did not know when there would be a ruling. No documents have been filed in the case since July.\nTesla did not respond to a request for comment.\nThe demand by Mr. Musk underlined the extent to which Tesla, which sold 1.8 million vehicles last year, is subject to his impulses.\n“You’re never really sure what you’re going to read from Elon Musk when you get back to the office after a three-day weekend,” said Ben Rose, president of Battle Road Research, which advises institutional investors. Mr. Rose called Mr. Musk’s demand “curious and ill-timed,” considering that Tesla faces increasing competition and difficult economic conditions.\nTesla’s success under Mr. Musk forced traditional carmakers to begin offering electric vehicles, which are essential in reducing greenhouse gas emissions from transportation. But Mr. Musk’s behavior and statements have weighed on the share price and gotten him into trouble with regulators.\nTesla shares fell when Mr. Musk sold some of his stake to buy Twitter. The shares also suffered after Mr. Musk said in 2018 that he had the money to\ntake Tesla private\nand delist it from the stock exchange. Mr. Musk was unable to execute the plan. The going-private statement led to a lawsuit by the Securities and Exchange Commission, which Tesla settled for $40 million while agreeing that lawyers would screen what Mr. Musk’s says on Twitter. It was not clear whether Mr. Musk’s statement on X late Monday had been approved by lawyers.\nIt would be difficult for Tesla’s board, which has been criticized for\nnot doing enough to control Mr. Musk\n, to grant his wish immediately or unconditionally. The company would have to issue new shares, Mr. Rose of Battle Research said. That would dilute the value of existing shares without raising additional capital for Tesla, and might spawn shareholder lawsuits.\nBut Mr. Rose added that the board could assign Mr. Musk stock options that he would receive only if he achieves certain milestones over five years or more. That would be similar to a\ncompensation package\nMr. Musk received in 2018 that depended on Tesla reaching stock market valuations seen at the time as unrealistically ambitious. Mr. Musk became the world’s richest man by defying expectations and hitting the targets.\nThe company’s stock has fallen about 11 percent so far this year but is up about 70 percent over the last 12 months.\nMr. Musk did not specify which products he might develop outside the company. He has already started a separate artificial intelligence business called X.AI, which last year released the Grok chatbot to selected users even though he has also highlighted the hazards of the technology in public comments.\nTesla’s main use of artificial intelligence has come in its Autopilot and Full Self Driving systems, which assist drivers by taking over certain tasks in certain driving situations. Mr. Musk has said several times over the years that the company was close to perfecting the technology that would allow a car to drive itself completely. But self-driving technology has taken longer to perfect than Mr. Musk’s predictions, and many experts believe it is still years away.\nThe carmaker has also been working on a robot it calls Optimus. The device can fold a shirt, according to a video posted on X by Tesla on Monday, but has not become a significant source of revenue.\nOn X, some of Mr. Musk’s fans applauded his demand for a 25 percent stake, saying he earned the money. But others said it was his own fault his stake in the company has fallen. “They didn’t make you sell your shares,” one user wrote, adding, “why should the board do anything to rectify this for you?”\nA stake of less than 15 percent of the company, Mr. Musk said, “makes a takeover by dubious interests too easy.”\nI am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned.\nUnless that is the case, I would prefer to build products outside of Tesla. You don’t seem to understand…\n— Elon Musk (@elonmusk)\nJanuary 15, 2024\nJack Ewing\nwrites about the auto industry with an emphasis on electric vehicles.\nA version of this article appears in print on\nJan. 17, 2024\n, Section B, Page 1 of the New York edition with the headline: Musk Says No to A.I. Work  Without Bigger Tesla Stake\n.\nOrder Reprints\n|\nToday’s Paper\n|\nSubscribe\nRelated Content\nMore in Business\nImage by Kelsey McClellan for The New York Times\nStephen Zenner\/SOPA Images\/LightRocket, via Getty Images\nNatalie Keyssar for The New York Times\nEditors’ Picks\nIllustration by Tomi Um\nShutterstock\nTrending in The Times\nTierney L. Cross\/The New York Times\nMPTV Images, via Reuters Connect\nGetty Images\nMatteo Prandoni\/BFA.com\nIllustration by Sam Whitney\/The New York Times\nLindsey Whitaker\nJoel Goldberg for The New York Times. Food Stylist: Hadas Smirnoff.\nAhn Young-Joon\/Associated Press\nPhilip Cheung for The New York Times\nAdvertisement\nSKIP ADVERTISEMENT","attrs_markdown":"[Skip to content](https:\/\/www.nytimes.com\/2024\/01\/16\/business\/tesla-elon-musk-stock.html#site-content)[Skip to site index](https:\/\/www.nytimes.com\/2024\/01\/16\/business\/tesla-elon-musk-stock.html#site-index)\n\nSearch & Section Navigation\n\nSection Navigation\n\nSearch\n\n[Business](https:\/\/www.nytimes.com\/section\/business)\n\n[Log in](https:\/\/myaccount.nytimes.com\/auth\/login?response_type=cookie&client_id=vi&redirect_uri=https%3A%2F%2Fwww.nytimes.com%2Fsubscription%2Fonboarding-offer%3FcampaignId%3D7JFJX%26EXIT_URI%3Dhttps%253A%252F%252Fwww.nytimes.com%252F2024%252F01%252F16%252Fbusiness%252Ftesla-elon-musk-stock.html&asset=masthead)\n\nSunday, March 8, 2026\n\n[Today’s Paper](https:\/\/www.nytimes.com\/section\/todayspaper)\n\n[Business](https:\/\/www.nytimes.com\/section\/business)\\|Musk Demands Bigger Stake in Tesla as Price for A.I. Work\n\nhttps:\/\/www.nytimes.com\/2024\/01\/16\/business\/tesla-elon-musk-stock.html\n\n- Share full article\n- 122\n\nAdvertisement\n\n[SKIP ADVERTISEMENT](https:\/\/www.nytimes.com\/2024\/01\/16\/business\/tesla-elon-musk-stock.html#after-top)\n\nSupported by\n\n[SKIP ADVERTISEMENT](https:\/\/www.nytimes.com\/2024\/01\/16\/business\/tesla-elon-musk-stock.html#after-sponsor)\n# Musk Demands Bigger Stake in Tesla as Price for A.I. Work\nElon Musk, the electric car company’s chief executive, said he would “build products outside of Tesla” unless the board raises his stake to 25 percent.\n\n- Share full article\n- 122\n\n![Elon Musk is sitting on a stage being interviewed. He is wearing a leather jacket, holding his hands with fingers interlaced and looking to the left at the person asking him questions, whose face is not visible.](https:\/\/static01.nyt.com\/images\/2024\/01\/16\/multimedia\/16musk-kbpw\/16musk-kbpw-articleLarge.jpg?quality=75&auto=webp&disable=upscale)\n\n“I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Elon Musk, Tesla’s chief executive, wrote in a social media post.Credit...Amir Hamja\/The New York Times\n\n[![Jack Ewing](https:\/\/static01.nyt.com\/images\/2018\/07\/18\/multimedia\/author-jack-ewing\/author-jack-ewing-thumbLarge.png)](https:\/\/www.nytimes.com\/by\/jack-ewing)\n\nBy [Jack Ewing](https:\/\/www.nytimes.com\/by\/jack-ewing)\n\nJan. 16, 2024\n\nElon Musk, the chief executive of Tesla, stunned investors by demanding that the company’s board give him shares worth more than \\$80 billion if it wants him to continue developing products based on artificial intelligence.\n\nIn the latest demonstration of his disregard for conventional ways of communicating with investors, Mr. Musk said late Monday on X, the social media site he owns, that he needed to own 25 percent of Tesla to avoid takeovers and have enough control of the company as it develops robots and other artificial intelligence technology.\n\nIf his demands are not met, Mr. Musk said, he would pursue unspecified ventures outside of Tesla. In addition to electric cars, Tesla has been developing a humanoid robot called Optimus, and uses artificial intelligence to develop self-driving technology, a cornerstone of the company’s strategy. Those businesses belong to Tesla, and Mr. Musk could not simply walk away with them.\n\nThe company’s stock market valuation of almost \\$700 billion — more than twice as much as Toyota Motor, the world’s largest automaker by annual car sales — is predicated in part on investors’ belief that the company will lead the rest of the industry in developing cars that can drive from place to place without human intervention. Investors are also betting that advanced automation will allow Tesla to manufacture cars much more efficiently and profitably than rivals.\n\nMr. Musk owns 13 percent of Tesla after selling a substantial portion of his stake to finance his \\$44 billion acquisition of Twitter, which he renamed X. The social media site has struggled under his leadership and has plunged in value. An additional 12 percent of Tesla would be worth \\$83 billion at the current share price, effectively recouping Mr. Musk’s investment in Twitter — which he has said he regrets — and then some.\n\n“I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Mr. Musk wrote on X. “Enough to be influential, but not so much that I can’t be overturned.”\n\nHe went on: “Unless that is the case, I would prefer to build products outside of Tesla.” But he also said the board would take no action until a Delaware judge ruled in a [lawsuit](https:\/\/www.nytimes.com\/2022\/11\/16\/business\/elon-musk-tesla-pay-trial.html) brought by a Tesla shareholder challenging an earlier compensation plan that was instrumental in making Mr. Musk the richest person in the world.\n\nMr. Musk [testified in the Delaware case](https:\/\/www.nytimes.com\/2022\/11\/16\/business\/elon-musk-tesla-pay-trial.html) in late 2022. Gregory Varallo, who represents shareholders in the lawsuit, said he did not know when there would be a ruling. No documents have been filed in the case since July.\n\nTesla did not respond to a request for comment.\n\nThe demand by Mr. Musk underlined the extent to which Tesla, which sold 1.8 million vehicles last year, is subject to his impulses.\n\n## Editors’ Picks\n[![](https:\/\/static01.nyt.com\/images\/2026\/03\/15\/arts\/15myten-Cannavale\/15myten-Cannavale-thumbLarge.jpg)Bobby Cannavale Loves ‘Heated Rivalry’ and His Bearded Dragon](https:\/\/www.nytimes.com\/2026\/03\/07\/arts\/television\/bobby-cannavale-bearded-dragon-scarpetta.html)\n\n[![](https:\/\/static01.nyt.com\/images\/2026\/03\/08\/books\/review\/05tbr-bythebook-heughan\/05tbr-bythebook-heughan-thumbLarge.jpg)Sam Heughan Says the ‘Outlander’ Finale Will Surprise Fans of the Novels](https:\/\/www.nytimes.com\/2026\/03\/05\/books\/review\/sam-heughan-outlander-favorite-books.html)\n\n[![](https:\/\/static01.nyt.com\/images\/2026\/03\/14\/magazine\/14mag-ethicist\/14mag-ethicist-thumbLarge.jpg)My Sister’s Crime Shattered Our Family. Do I Have to Help Her?](https:\/\/www.nytimes.com\/2026\/03\/07\/magazine\/sisters-crime-family-ethics.html)\n\nAdvertisement\n\n[SKIP ADVERTISEMENT](https:\/\/www.nytimes.com\/2024\/01\/16\/business\/tesla-elon-musk-stock.html#after-pp_edpick)\n\n“You’re never really sure what you’re going to read from Elon Musk when you get back to the office after a three-day weekend,” said Ben Rose, president of Battle Road Research, which advises institutional investors. Mr. Rose called Mr. Musk’s demand “curious and ill-timed,” considering that Tesla faces increasing competition and difficult economic conditions.\n\nTesla’s success under Mr. Musk forced traditional carmakers to begin offering electric vehicles, which are essential in reducing greenhouse gas emissions from transportation. But Mr. Musk’s behavior and statements have weighed on the share price and gotten him into trouble with regulators.\n\nTesla shares fell when Mr. Musk sold some of his stake to buy Twitter. The shares also suffered after Mr. Musk said in 2018 that he had the money to [take Tesla private](https:\/\/www.nytimes.com\/2023\/01\/17\/business\/elon-musk-tesla-trial-funding-secured.html) and delist it from the stock exchange. Mr. Musk was unable to execute the plan. The going-private statement led to a lawsuit by the Securities and Exchange Commission, which Tesla settled for \\$40 million while agreeing that lawyers would screen what Mr. Musk’s says on Twitter. It was not clear whether Mr. Musk’s statement on X late Monday had been approved by lawyers.\n\nIt would be difficult for Tesla’s board, which has been criticized for [not doing enough to control Mr. Musk](https:\/\/www.nytimes.com\/2022\/11\/22\/business\/elon-musk-tesla-board-twitter.html), to grant his wish immediately or unconditionally. The company would have to issue new shares, Mr. Rose of Battle Research said. That would dilute the value of existing shares without raising additional capital for Tesla, and might spawn shareholder lawsuits.\n\nBut Mr. Rose added that the board could assign Mr. Musk stock options that he would receive only if he achieves certain milestones over five years or more. That would be similar to a [compensation package](https:\/\/www.nytimes.com\/2018\/01\/23\/business\/dealbook\/tesla-elon-musk-pay.html) Mr. Musk received in 2018 that depended on Tesla reaching stock market valuations seen at the time as unrealistically ambitious. Mr. Musk became the world’s richest man by defying expectations and hitting the targets.\n\nThe company’s stock has fallen about 11 percent so far this year but is up about 70 percent over the last 12 months.\n\nMr. Musk did not specify which products he might develop outside the company. He has already started a separate artificial intelligence business called X.AI, which last year released the Grok chatbot to selected users even though he has also highlighted the hazards of the technology in public comments.\n\nTesla’s main use of artificial intelligence has come in its Autopilot and Full Self Driving systems, which assist drivers by taking over certain tasks in certain driving situations. Mr. Musk has said several times over the years that the company was close to perfecting the technology that would allow a car to drive itself completely. But self-driving technology has taken longer to perfect than Mr. Musk’s predictions, and many experts believe it is still years away.\n\nThe carmaker has also been working on a robot it calls Optimus. The device can fold a shirt, according to a video posted on X by Tesla on Monday, but has not become a significant source of revenue.\n\nOn X, some of Mr. Musk’s fans applauded his demand for a 25 percent stake, saying he earned the money. But others said it was his own fault his stake in the company has fallen. “They didn’t make you sell your shares,” one user wrote, adding, “why should the board do anything to rectify this for you?”\n\nA stake of less than 15 percent of the company, Mr. Musk said, “makes a takeover by dubious interests too easy.”\n\n> I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned.  \n>   \n> Unless that is the case, I would prefer to build products outside of Tesla. You don’t seem to understand…\n> \n> — Elon Musk (@elonmusk) [January 15, 2024](https:\/\/twitter.com\/elonmusk\/status\/1746999488252703098?ref_src=twsrc%5Etfw)\n\n[Jack Ewing](https:\/\/www.nytimes.com\/by\/jack-ewing) writes about the auto industry with an emphasis on electric vehicles.\n\nA version of this article appears in print on Jan. 17, 2024, Section B, Page 1 of the New York edition with the headline: Musk Says No to A.I. Work Without Bigger Tesla Stake. [Order Reprints](https:\/\/nytimes.wrightsmedia.com\/) \\| [Today’s Paper](https:\/\/www.nytimes.com\/section\/todayspaper) \\| [Subscribe](https:\/\/www.nytimes.com\/subscriptions\/Multiproduct\/lp8HYKU.html?campaignId=48JQY)\n\nSee more on: [Elon Musk](https:\/\/www.nytimes.com\/spotlight\/elon-musk)\n\nRead 122 comments\n\n- Share full article\n- 122\n\n***\n## The State of Electric Vehicles\n***\n- **Pivotal Moment for U.S. Automakers:** General Motors, Ford and others risk becoming relics [if they don’t catch up to Chinese carmakers and technology companies](https:\/\/www.nytimes.com\/2026\/03\/03\/business\/ford-gm-ev-self-driving-cars-china.html) in electric vehicles and self-driving cars.\n- **China’s E.V. Market:** Investors are selling shares of Chinese E.V. companies, concerned that intensifying competition and shorter production cycles mean [the years of easy growth are over](https:\/\/www.nytimes.com\/2026\/02\/19\/business\/china-electric-vehicle-troubles.html).\n- **Ford Motor:** The company reported a big loss for 2025 because of its troubled electric vehicle division, which it has [significantly scaled back](https:\/\/www.nytimes.com\/2026\/02\/10\/business\/ford-earnings-electric-vehicles.html).\n- **Tesla Profit Slumps:** The carmaker reported a steep decline in annual profit as it [cut car prices to try to fend off growing competition](https:\/\/www.nytimes.com\/2026\/01\/28\/business\/tesla-earnings-electric-vehicles.html) from established automakers like Volkswagen and newer rivals from China.\n- **Buying an Electric Car?****:** Here’s our electric vs. gas [car calculator](https:\/\/www.nytimes.com\/interactive\/2025\/upshot\/ev-vs-gas-calculator.html) and how much it [costs to drive both in every state](https:\/\/www.nytimes.com\/2025\/10\/08\/upshot\/ev-versus-gas-car-comparison-cost.html). Also, see how [E.V. road trips went from impossible to easy](https:\/\/www.nytimes.com\/interactive\/2025\/09\/29\/upshot\/ev-chargers-road-trip.html).\n\n## Related Content\n### [More in Business](https:\/\/www.nytimes.com\/section\/business)\n- [McDonald’s C.E.O. Takes a Big Bite Out of a Burger. Maybe Scratch ‘Big.’](https:\/\/www.nytimes.com\/2026\/03\/05\/business\/mcdonalds-ceo-big-arch-burger-video.html)\n  \n  ![The video that started it all.](https:\/\/static01.nyt.com\/images\/2026\/03\/05\/world\/05xp-mcdonalds-art\/05xp-mcdonalds-art-square640.jpg?quality=75&auto=webp&disable=upscale)\n- [A Wink, a Nod or a Duck: The Secrets Behind Car Owners’ Secret Handshakes](https:\/\/www.nytimes.com\/2026\/03\/08\/business\/jeep-miata-porsche-secret-handshakes.html)\n  \n  ![](https:\/\/static01.nyt.com\/images\/2026\/03\/02\/multimedia\/00biz-wheels-handshake-vid-qczv\/00biz-wheels-handshake-vid-qczv-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Image by Kelsey McClellan for The New York Times\n- [An Upstart Brewery Sold a Novel Investment to ‘Punks.’ Now They Won’t Get Anything.](https:\/\/www.nytimes.com\/2026\/03\/07\/business\/brewdog-sale-equity-punks-investors.html)\n  \n  ![People at a BrewDog in Columbus, Ohio, in 2021. The British company expanded rapidly, including opening locations overseas, before foundering more recently.](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/world\/brewdog\/brewdog-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Stephen Zenner\/SOPA Images\/LightRocket, via Getty Images\n- [The Allure of ‘Slop Bowls’ Fades as Consumers Tighten Spending](https:\/\/www.nytimes.com\/2026\/03\/06\/business\/chipotle-cava-sweetgreen-bowl-sales-prices.html)\n  \n  ![Consumers are growing weary of healthy-but-kinda-mushy meals.](https:\/\/static01.nyt.com\/images\/2026\/02\/26\/business\/00biz-bowl-bust\/00biz-bowl-bust-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Natalie Keyssar for The New York Times\n\n### Editors’ Picks\n- [My Sister’s Crime Shattered Our Family. Do I Have to Help Her?](https:\/\/www.nytimes.com\/2026\/03\/07\/magazine\/sisters-crime-family-ethics.html)\n  \n  ![](https:\/\/static01.nyt.com\/images\/2026\/03\/14\/magazine\/14mag-ethicist\/14mag-ethicist-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Illustration by Tomi Um\n- [Seat 11A: The Windowless Inside Joke at 30,000 Feet](https:\/\/www.nytimes.com\/2026\/03\/07\/us\/seat-11a-no-window-ryanair-airlines.html)\n  \n  ![On certain Boeing 737 and Airbus A321 jets, row 11 offers a seat sold as a window view that shows, instead, a wall. The discovery tends to arrive after boarding.](https:\/\/static01.nyt.com\/images\/2026\/02\/26\/multimedia\/00xp-Seat11A-cvmj\/00xp-Seat11A-cvmj-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Shutterstock\n\n### Trending in The Times\n- [Kristi Noem Survived Many Crises. Then She Crossed a Trump Red Line.](https:\/\/www.nytimes.com\/2026\/03\/06\/us\/politics\/trump-noem.html)\n  \n  ![Kristi Noem testifying before the Senate Judiciary Committee on Tuesday, where her comments led the president to fire her later in the week.](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/multimedia\/06dc-trump-noem-gmpc\/06dc-trump-noem-gmpc-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Tierney L. Cross\/The New York Times\n- [From 1969: Judy Garland, 47, Found Dead](https:\/\/www.nytimes.com\/2026\/03\/06\/movies\/judy-garland-dead.html)\n  \n  ![Judy Garland around 1941.](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/obituaries\/06WHM-Garland-Obit-01\/06WHM-Garland-Obit-01-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  MPTV Images, via Reuters Connect\n- [Is This Treadmill Walking Trend Good for Your Fitness?](https:\/\/www.nytimes.com\/2026\/03\/06\/well\/move\/12-3-30-treadmill-workout-trend.html)\n  \n  ![](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/well\/06WELL-TREADMILL-TREND2\/06WELL-TREADMILL-TREND2-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Getty Images\n- [A Head of State, a Rock Star and Oprah Walk Into a Palace](https:\/\/www.nytimes.com\/2026\/03\/06\/style\/stella-mccartney-legion-dhonneur-emmanuel-macron-paris.html)\n  \n  ![President Emmanuel Macron bestowing the French Legion of Honor medal on Stella McCartney.](https:\/\/static01.nyt.com\/images\/2026\/03\/07\/multimedia\/07ST-MCCARTNEY--01-ghmt\/07ST-MCCARTNEY--01-ghmt-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Matteo Prandoni\/BFA.com\n- [Opinion: There Is One Crucial Reason We’re Talking About Boots on the Ground](https:\/\/www.nytimes.com\/2026\/03\/07\/opinion\/trump-iran-nuclear-weapons-enriched-uranium-war.html)\n  \n  ![](https:\/\/static01.nyt.com\/images\/2026\/03\/07\/opinion\/07calabresi-hennigan-image\/07calabresi-hennigan-image-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Illustration by Sam Whitney\/The New York Times\n- [At Least 6 Dead as Tornadoes Slam Michigan and Oklahoma](https:\/\/www.nytimes.com\/2026\/03\/06\/weather\/storm-forecast-missouri-kansas-oklahoma.html)\n  \n  ![](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/arts\/Tornado-Thumb2\/Tornado-Thumb2-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Lindsey Whitaker\n- [Pasta e Fagioli, Kimchi Ramen and More of Our Best 25-Minute Soups](https:\/\/cooking.nytimes.com\/article\/quick-soup-recipes)\n  \n  ![](https:\/\/static01.nyt.com\/images\/2026\/03\/05\/multimedia\/05FD-20-MINUTE-SOUPS-topart-pestochickpeasoup-pvhm\/05FD-20-MINUTE-SOUPS-topart-pestochickpeasoup-pvhm-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Joel Goldberg for The New York Times. Food Stylist: Hadas Smirnoff.\n- [What the Extraordinary Market Volatility in Asia Says About Energy and A.I.](https:\/\/www.nytimes.com\/2026\/03\/05\/business\/stocks-asia-iran-energy.html)\n  \n  ![Currency traders at the Hana Bank headquarters in Seoul on Thursday.](https:\/\/static01.nyt.com\/images\/2026\/03\/05\/multimedia\/00Biz-Iran-AI-Energy-cght\/00Biz-Iran-AI-Energy-cght-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Ahn Young-Joon\/Associated Press\n- [A Schools Chief So Charming That Los Angeles Overlooked His Red Flags](https:\/\/www.nytimes.com\/2026\/03\/07\/us\/alberto-carvalho-lausd-scandals.html)\n  \n  ![Alberto Carvalho was hired to lead the L.A. 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He is wearing a leather jacket, holding his hands with fingers interlaced and looking to the left at the person asking him questions, whose face is not visible.](https:\/\/static01.nyt.com\/images\/2024\/01\/16\/multimedia\/16musk-kbpw\/16musk-kbpw-articleLarge.jpg?quality=75&auto=webp&disable=upscale)\n\n“I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Elon Musk, Tesla’s chief executive, wrote in a social media post.Credit...Amir Hamja\/The New York Times\n\nJan. 16, 2024\n\nElon Musk, the chief executive of Tesla, stunned investors by demanding that the company’s board give him shares worth more than \\$80 billion if it wants him to continue developing products based on artificial intelligence.\n\nIn the latest demonstration of his disregard for conventional ways of communicating with investors, Mr. Musk said late Monday on X, the social media site he owns, that he needed to own 25 percent of Tesla to avoid takeovers and have enough control of the company as it develops robots and other artificial intelligence technology.\n\nIf his demands are not met, Mr. Musk said, he would pursue unspecified ventures outside of Tesla. In addition to electric cars, Tesla has been developing a humanoid robot called Optimus, and uses artificial intelligence to develop self-driving technology, a cornerstone of the company’s strategy. Those businesses belong to Tesla, and Mr. Musk could not simply walk away with them.\n\nThe company’s stock market valuation of almost \\$700 billion — more than twice as much as Toyota Motor, the world’s largest automaker by annual car sales — is predicated in part on investors’ belief that the company will lead the rest of the industry in developing cars that can drive from place to place without human intervention. Investors are also betting that advanced automation will allow Tesla to manufacture cars much more efficiently and profitably than rivals.\n\nMr. Musk owns 13 percent of Tesla after selling a substantial portion of his stake to finance his \\$44 billion acquisition of Twitter, which he renamed X. The social media site has struggled under his leadership and has plunged in value. An additional 12 percent of Tesla would be worth \\$83 billion at the current share price, effectively recouping Mr. Musk’s investment in Twitter — which he has said he regrets — and then some.\n\n“I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Mr. Musk wrote on X. “Enough to be influential, but not so much that I can’t be overturned.”\n\nHe went on: “Unless that is the case, I would prefer to build products outside of Tesla.” But he also said the board would take no action until a Delaware judge ruled in a [lawsuit](https:\/\/www.nytimes.com\/2022\/11\/16\/business\/elon-musk-tesla-pay-trial.html) brought by a Tesla shareholder challenging an earlier compensation plan that was instrumental in making Mr. Musk the richest person in the world.\n\nMr. Musk [testified in the Delaware case](https:\/\/www.nytimes.com\/2022\/11\/16\/business\/elon-musk-tesla-pay-trial.html) in late 2022. Gregory Varallo, who represents shareholders in the lawsuit, said he did not know when there would be a ruling. No documents have been filed in the case since July.\n\nTesla did not respond to a request for comment.\n\nThe demand by Mr. Musk underlined the extent to which Tesla, which sold 1.8 million vehicles last year, is subject to his impulses.\n\n“You’re never really sure what you’re going to read from Elon Musk when you get back to the office after a three-day weekend,” said Ben Rose, president of Battle Road Research, which advises institutional investors. Mr. Rose called Mr. Musk’s demand “curious and ill-timed,” considering that Tesla faces increasing competition and difficult economic conditions.\n\nTesla’s success under Mr. Musk forced traditional carmakers to begin offering electric vehicles, which are essential in reducing greenhouse gas emissions from transportation. But Mr. Musk’s behavior and statements have weighed on the share price and gotten him into trouble with regulators.\n\nTesla shares fell when Mr. Musk sold some of his stake to buy Twitter. The shares also suffered after Mr. Musk said in 2018 that he had the money to [take Tesla private](https:\/\/www.nytimes.com\/2023\/01\/17\/business\/elon-musk-tesla-trial-funding-secured.html) and delist it from the stock exchange. Mr. Musk was unable to execute the plan. The going-private statement led to a lawsuit by the Securities and Exchange Commission, which Tesla settled for \\$40 million while agreeing that lawyers would screen what Mr. Musk’s says on Twitter. It was not clear whether Mr. Musk’s statement on X late Monday had been approved by lawyers.\n\nIt would be difficult for Tesla’s board, which has been criticized for [not doing enough to control Mr. Musk](https:\/\/www.nytimes.com\/2022\/11\/22\/business\/elon-musk-tesla-board-twitter.html), to grant his wish immediately or unconditionally. The company would have to issue new shares, Mr. Rose of Battle Research said. That would dilute the value of existing shares without raising additional capital for Tesla, and might spawn shareholder lawsuits.\n\nBut Mr. Rose added that the board could assign Mr. Musk stock options that he would receive only if he achieves certain milestones over five years or more. That would be similar to a [compensation package](https:\/\/www.nytimes.com\/2018\/01\/23\/business\/dealbook\/tesla-elon-musk-pay.html) Mr. Musk received in 2018 that depended on Tesla reaching stock market valuations seen at the time as unrealistically ambitious. Mr. Musk became the world’s richest man by defying expectations and hitting the targets.\n\nThe company’s stock has fallen about 11 percent so far this year but is up about 70 percent over the last 12 months.\n\nMr. Musk did not specify which products he might develop outside the company. He has already started a separate artificial intelligence business called X.AI, which last year released the Grok chatbot to selected users even though he has also highlighted the hazards of the technology in public comments.\n\nTesla’s main use of artificial intelligence has come in its Autopilot and Full Self Driving systems, which assist drivers by taking over certain tasks in certain driving situations. Mr. Musk has said several times over the years that the company was close to perfecting the technology that would allow a car to drive itself completely. But self-driving technology has taken longer to perfect than Mr. Musk’s predictions, and many experts believe it is still years away.\n\nThe carmaker has also been working on a robot it calls Optimus. The device can fold a shirt, according to a video posted on X by Tesla on Monday, but has not become a significant source of revenue.\n\nOn X, some of Mr. Musk’s fans applauded his demand for a 25 percent stake, saying he earned the money. But others said it was his own fault his stake in the company has fallen. “They didn’t make you sell your shares,” one user wrote, adding, “why should the board do anything to rectify this for you?”\n\nA stake of less than 15 percent of the company, Mr. Musk said, “makes a takeover by dubious interests too easy.”\n\n> I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned.\n> \n> Unless that is the case, I would prefer to build products outside of Tesla. You don’t seem to understand…\n> \n> — Elon Musk (@elonmusk) [January 15, 2024](https:\/\/twitter.com\/elonmusk\/status\/1746999488252703098?ref_src=twsrc%5Etfw)\n\n[Jack Ewing](https:\/\/www.nytimes.com\/by\/jack-ewing) writes about the auto industry with an emphasis on electric vehicles.\n\nA version of this article appears in print on Jan. 17, 2024, Section B, Page 1 of the New York edition with the headline: Musk Says No to A.I. Work Without Bigger Tesla Stake. [Order Reprints](https:\/\/nytimes.wrightsmedia.com\/) \\| [Today’s Paper](https:\/\/www.nytimes.com\/section\/todayspaper) \\| [Subscribe](https:\/\/www.nytimes.com\/subscriptions\/Multiproduct\/lp8HYKU.html?campaignId=48JQY)\n\n## Related Content\n[More in Business](https:\/\/www.nytimes.com\/section\/business)\n\n- ![The video that started it all.](https:\/\/static01.nyt.com\/images\/2026\/03\/05\/world\/05xp-mcdonalds-art\/05xp-mcdonalds-art-square640.jpg?quality=75&auto=webp&disable=upscale)\n- ![](https:\/\/static01.nyt.com\/images\/2026\/03\/02\/multimedia\/00biz-wheels-handshake-vid-qczv\/00biz-wheels-handshake-vid-qczv-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Image by Kelsey McClellan for The New York Times\n- ![People at a BrewDog in Columbus, Ohio, in 2021. The British company expanded rapidly, including opening locations overseas, before foundering more recently.](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/world\/brewdog\/brewdog-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Stephen Zenner\/SOPA Images\/LightRocket, via Getty Images\n- ![Consumers are growing weary of healthy-but-kinda-mushy meals.](https:\/\/static01.nyt.com\/images\/2026\/02\/26\/business\/00biz-bowl-bust\/00biz-bowl-bust-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Natalie Keyssar for The New York Times\n\nEditors’ Picks\n\n- ![](https:\/\/static01.nyt.com\/images\/2026\/03\/14\/magazine\/14mag-ethicist\/14mag-ethicist-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Illustration by Tomi Um\n- ![On certain Boeing 737 and Airbus A321 jets, row 11 offers a seat sold as a window view that shows, instead, a wall. The discovery tends to arrive after boarding.](https:\/\/static01.nyt.com\/images\/2026\/02\/26\/multimedia\/00xp-Seat11A-cvmj\/00xp-Seat11A-cvmj-square640.jpg?quality=75&auto=webp&disable=upscale)\n  \n  Shutterstock\n\nTrending in The Times\n\n- ![Kristi Noem testifying before the Senate Judiciary Committee on Tuesday, where her comments led the president to fire her later in the week.](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/multimedia\/06dc-trump-noem-gmpc\/06dc-trump-noem-gmpc-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Tierney L. Cross\/The New York Times\n- ![Judy Garland around 1941.](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/obituaries\/06WHM-Garland-Obit-01\/06WHM-Garland-Obit-01-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  MPTV Images, via Reuters Connect\n- ![](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/well\/06WELL-TREADMILL-TREND2\/06WELL-TREADMILL-TREND2-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Getty Images\n- ![President Emmanuel Macron bestowing the French Legion of Honor medal on Stella McCartney.](https:\/\/static01.nyt.com\/images\/2026\/03\/07\/multimedia\/07ST-MCCARTNEY--01-ghmt\/07ST-MCCARTNEY--01-ghmt-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Matteo Prandoni\/BFA.com\n- ![](https:\/\/static01.nyt.com\/images\/2026\/03\/07\/opinion\/07calabresi-hennigan-image\/07calabresi-hennigan-image-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Illustration by Sam Whitney\/The New York Times\n- ![](https:\/\/static01.nyt.com\/images\/2026\/03\/06\/arts\/Tornado-Thumb2\/Tornado-Thumb2-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Lindsey Whitaker\n- ![](https:\/\/static01.nyt.com\/images\/2026\/03\/05\/multimedia\/05FD-20-MINUTE-SOUPS-topart-pestochickpeasoup-pvhm\/05FD-20-MINUTE-SOUPS-topart-pestochickpeasoup-pvhm-square640.jpg?quality=75&auto=webp&disable=upscale&width=350)\n  \n  Joel Goldberg for The New York Times. 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Meta Title	Musk Demands Bigger Stake in Tesla as Price for A.I. Work - The New York Times
Meta Description	Elon Musk, the electric car company’s chief executive, said he would “build products outside of Tesla” unless the board raises his stake to 25 percent.
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Boilerpipe Text	Advertisement SKIP ADVERTISEMENT Elon Musk, the electric car company’s chief executive, said he would “build products outside of Tesla” unless the board raises his stake to 25 percent. “I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Elon Musk, Tesla’s chief executive, wrote in a social media post. Credit... Amir Hamja/The New York Times Jan. 16, 2024 Elon Musk, the chief executive of Tesla, stunned investors by demanding that the company’s board give him shares worth more than $80 billion if it wants him to continue developing products based on artificial intelligence. In the latest demonstration of his disregard for conventional ways of communicating with investors, Mr. Musk said late Monday on X, the social media site he owns, that he needed to own 25 percent of Tesla to avoid takeovers and have enough control of the company as it develops robots and other artificial intelligence technology. If his demands are not met, Mr. Musk said, he would pursue unspecified ventures outside of Tesla. In addition to electric cars, Tesla has been developing a humanoid robot called Optimus, and uses artificial intelligence to develop self-driving technology, a cornerstone of the company’s strategy. Those businesses belong to Tesla, and Mr. Musk could not simply walk away with them. The company’s stock market valuation of almost $700 billion — more than twice as much as Toyota Motor, the world’s largest automaker by annual car sales — is predicated in part on investors’ belief that the company will lead the rest of the industry in developing cars that can drive from place to place without human intervention. Investors are also betting that advanced automation will allow Tesla to manufacture cars much more efficiently and profitably than rivals. Mr. Musk owns 13 percent of Tesla after selling a substantial portion of his stake to finance his $44 billion acquisition of Twitter, which he renamed X. The social media site has struggled under his leadership and has plunged in value. An additional 12 percent of Tesla would be worth $83 billion at the current share price, effectively recouping Mr. Musk’s investment in Twitter — which he has said he regrets — and then some. “I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Mr. Musk wrote on X. “Enough to be influential, but not so much that I can’t be overturned.” He went on: “Unless that is the case, I would prefer to build products outside of Tesla.” But he also said the board would take no action until a Delaware judge ruled in a lawsuit brought by a Tesla shareholder challenging an earlier compensation plan that was instrumental in making Mr. Musk the richest person in the world. Mr. Musk testified in the Delaware case in late 2022. Gregory Varallo, who represents shareholders in the lawsuit, said he did not know when there would be a ruling. No documents have been filed in the case since July. Tesla did not respond to a request for comment. The demand by Mr. Musk underlined the extent to which Tesla, which sold 1.8 million vehicles last year, is subject to his impulses. “You’re never really sure what you’re going to read from Elon Musk when you get back to the office after a three-day weekend,” said Ben Rose, president of Battle Road Research, which advises institutional investors. Mr. Rose called Mr. Musk’s demand “curious and ill-timed,” considering that Tesla faces increasing competition and difficult economic conditions. Tesla’s success under Mr. Musk forced traditional carmakers to begin offering electric vehicles, which are essential in reducing greenhouse gas emissions from transportation. But Mr. Musk’s behavior and statements have weighed on the share price and gotten him into trouble with regulators. Tesla shares fell when Mr. Musk sold some of his stake to buy Twitter. The shares also suffered after Mr. Musk said in 2018 that he had the money to take Tesla private and delist it from the stock exchange. Mr. Musk was unable to execute the plan. The going-private statement led to a lawsuit by the Securities and Exchange Commission, which Tesla settled for $40 million while agreeing that lawyers would screen what Mr. Musk’s says on Twitter. It was not clear whether Mr. Musk’s statement on X late Monday had been approved by lawyers. It would be difficult for Tesla’s board, which has been criticized for not doing enough to control Mr. Musk , to grant his wish immediately or unconditionally. The company would have to issue new shares, Mr. Rose of Battle Research said. That would dilute the value of existing shares without raising additional capital for Tesla, and might spawn shareholder lawsuits. But Mr. Rose added that the board could assign Mr. Musk stock options that he would receive only if he achieves certain milestones over five years or more. That would be similar to a compensation package Mr. Musk received in 2018 that depended on Tesla reaching stock market valuations seen at the time as unrealistically ambitious. Mr. Musk became the world’s richest man by defying expectations and hitting the targets. The company’s stock has fallen about 11 percent so far this year but is up about 70 percent over the last 12 months. Mr. Musk did not specify which products he might develop outside the company. He has already started a separate artificial intelligence business called X.AI, which last year released the Grok chatbot to selected users even though he has also highlighted the hazards of the technology in public comments. Tesla’s main use of artificial intelligence has come in its Autopilot and Full Self Driving systems, which assist drivers by taking over certain tasks in certain driving situations. Mr. Musk has said several times over the years that the company was close to perfecting the technology that would allow a car to drive itself completely. But self-driving technology has taken longer to perfect than Mr. Musk’s predictions, and many experts believe it is still years away. The carmaker has also been working on a robot it calls Optimus. The device can fold a shirt, according to a video posted on X by Tesla on Monday, but has not become a significant source of revenue. On X, some of Mr. Musk’s fans applauded his demand for a 25 percent stake, saying he earned the money. But others said it was his own fault his stake in the company has fallen. “They didn’t make you sell your shares,” one user wrote, adding, “why should the board do anything to rectify this for you?” A stake of less than 15 percent of the company, Mr. Musk said, “makes a takeover by dubious interests too easy.” I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned. Unless that is the case, I would prefer to build products outside of Tesla. You don’t seem to understand… — Elon Musk (@elonmusk) January 15, 2024 Jack Ewing writes about the auto industry with an emphasis on electric vehicles. A version of this article appears in print on Jan. 17, 2024 , Section B, Page 1 of the New York edition with the headline: Musk Says No to A.I. Work Without Bigger Tesla Stake . Order Reprints \| Today’s Paper \| Subscribe Related Content More in Business Image by Kelsey McClellan for The New York Times Stephen Zenner/SOPA Images/LightRocket, via Getty Images Natalie Keyssar for The New York Times Editors’ Picks Illustration by Tomi Um Shutterstock Trending in The Times Tierney L. Cross/The New York Times MPTV Images, via Reuters Connect Getty Images Matteo Prandoni/BFA.com Illustration by Sam Whitney/The New York Times Lindsey Whitaker Joel Goldberg for The New York Times. Food Stylist: Hadas Smirnoff. Ahn Young-Joon/Associated Press Philip Cheung for The New York Times Advertisement SKIP ADVERTISEMENT
Markdown	[Skip to content](https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html#site-content)[Skip to site index](https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html#site-index) Search & Section Navigation Section Navigation Search [Business](https://www.nytimes.com/section/business) [Log in](https://myaccount.nytimes.com/auth/login?response_type=cookie&client_id=vi&redirect_uri=https%3A%2F%2Fwww.nytimes.com%2Fsubscription%2Fonboarding-offer%3FcampaignId%3D7JFJX%26EXIT_URI%3Dhttps%253A%252F%252Fwww.nytimes.com%252F2024%252F01%252F16%252Fbusiness%252Ftesla-elon-musk-stock.html&asset=masthead) Sunday, March 8, 2026 [Today’s Paper](https://www.nytimes.com/section/todayspaper) [Business](https://www.nytimes.com/section/business)\\|Musk Demands Bigger Stake in Tesla as Price for A.I. Work https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html - Share full article - 122 Advertisement [SKIP ADVERTISEMENT](https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html#after-top) Supported by [SKIP ADVERTISEMENT](https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html#after-sponsor) # Musk Demands Bigger Stake in Tesla as Price for A.I. Work Elon Musk, the electric car company’s chief executive, said he would “build products outside of Tesla” unless the board raises his stake to 25 percent. - Share full article - 122 ![Elon Musk is sitting on a stage being interviewed. He is wearing a leather jacket, holding his hands with fingers interlaced and looking to the left at the person asking him questions, whose face is not visible.](https://static01.nyt.com/images/2024/01/16/multimedia/16musk-kbpw/16musk-kbpw-articleLarge.jpg?quality=75&auto=webp&disable=upscale) “I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Elon Musk, Tesla’s chief executive, wrote in a social media post.Credit...Amir Hamja/The New York Times [![Jack Ewing](https://static01.nyt.com/images/2018/07/18/multimedia/author-jack-ewing/author-jack-ewing-thumbLarge.png)](https://www.nytimes.com/by/jack-ewing) By [Jack Ewing](https://www.nytimes.com/by/jack-ewing) Jan. 16, 2024 Elon Musk, the chief executive of Tesla, stunned investors by demanding that the company’s board give him shares worth more than \$80 billion if it wants him to continue developing products based on artificial intelligence. In the latest demonstration of his disregard for conventional ways of communicating with investors, Mr. Musk said late Monday on X, the social media site he owns, that he needed to own 25 percent of Tesla to avoid takeovers and have enough control of the company as it develops robots and other artificial intelligence technology. If his demands are not met, Mr. Musk said, he would pursue unspecified ventures outside of Tesla. In addition to electric cars, Tesla has been developing a humanoid robot called Optimus, and uses artificial intelligence to develop self-driving technology, a cornerstone of the company’s strategy. Those businesses belong to Tesla, and Mr. Musk could not simply walk away with them. The company’s stock market valuation of almost \$700 billion — more than twice as much as Toyota Motor, the world’s largest automaker by annual car sales — is predicated in part on investors’ belief that the company will lead the rest of the industry in developing cars that can drive from place to place without human intervention. Investors are also betting that advanced automation will allow Tesla to manufacture cars much more efficiently and profitably than rivals. Mr. Musk owns 13 percent of Tesla after selling a substantial portion of his stake to finance his \$44 billion acquisition of Twitter, which he renamed X. The social media site has struggled under his leadership and has plunged in value. An additional 12 percent of Tesla would be worth \$83 billion at the current share price, effectively recouping Mr. Musk’s investment in Twitter — which he has said he regrets — and then some. “I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Mr. Musk wrote on X. “Enough to be influential, but not so much that I can’t be overturned.” He went on: “Unless that is the case, I would prefer to build products outside of Tesla.” But he also said the board would take no action until a Delaware judge ruled in a [lawsuit](https://www.nytimes.com/2022/11/16/business/elon-musk-tesla-pay-trial.html) brought by a Tesla shareholder challenging an earlier compensation plan that was instrumental in making Mr. Musk the richest person in the world. Mr. Musk [testified in the Delaware case](https://www.nytimes.com/2022/11/16/business/elon-musk-tesla-pay-trial.html) in late 2022. Gregory Varallo, who represents shareholders in the lawsuit, said he did not know when there would be a ruling. No documents have been filed in the case since July. Tesla did not respond to a request for comment. The demand by Mr. Musk underlined the extent to which Tesla, which sold 1.8 million vehicles last year, is subject to his impulses. ## Editors’ Picks [![](https://static01.nyt.com/images/2026/03/15/arts/15myten-Cannavale/15myten-Cannavale-thumbLarge.jpg)Bobby Cannavale Loves ‘Heated Rivalry’ and His Bearded Dragon](https://www.nytimes.com/2026/03/07/arts/television/bobby-cannavale-bearded-dragon-scarpetta.html) [![](https://static01.nyt.com/images/2026/03/08/books/review/05tbr-bythebook-heughan/05tbr-bythebook-heughan-thumbLarge.jpg)Sam Heughan Says the ‘Outlander’ Finale Will Surprise Fans of the Novels](https://www.nytimes.com/2026/03/05/books/review/sam-heughan-outlander-favorite-books.html) [![](https://static01.nyt.com/images/2026/03/14/magazine/14mag-ethicist/14mag-ethicist-thumbLarge.jpg)My Sister’s Crime Shattered Our Family. Do I Have to Help Her?](https://www.nytimes.com/2026/03/07/magazine/sisters-crime-family-ethics.html) Advertisement [SKIP ADVERTISEMENT](https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html#after-pp_edpick) “You’re never really sure what you’re going to read from Elon Musk when you get back to the office after a three-day weekend,” said Ben Rose, president of Battle Road Research, which advises institutional investors. Mr. Rose called Mr. Musk’s demand “curious and ill-timed,” considering that Tesla faces increasing competition and difficult economic conditions. Tesla’s success under Mr. Musk forced traditional carmakers to begin offering electric vehicles, which are essential in reducing greenhouse gas emissions from transportation. But Mr. Musk’s behavior and statements have weighed on the share price and gotten him into trouble with regulators. Tesla shares fell when Mr. Musk sold some of his stake to buy Twitter. The shares also suffered after Mr. Musk said in 2018 that he had the money to [take Tesla private](https://www.nytimes.com/2023/01/17/business/elon-musk-tesla-trial-funding-secured.html) and delist it from the stock exchange. Mr. Musk was unable to execute the plan. The going-private statement led to a lawsuit by the Securities and Exchange Commission, which Tesla settled for \$40 million while agreeing that lawyers would screen what Mr. Musk’s says on Twitter. It was not clear whether Mr. Musk’s statement on X late Monday had been approved by lawyers. It would be difficult for Tesla’s board, which has been criticized for [not doing enough to control Mr. Musk](https://www.nytimes.com/2022/11/22/business/elon-musk-tesla-board-twitter.html), to grant his wish immediately or unconditionally. The company would have to issue new shares, Mr. Rose of Battle Research said. That would dilute the value of existing shares without raising additional capital for Tesla, and might spawn shareholder lawsuits. But Mr. Rose added that the board could assign Mr. Musk stock options that he would receive only if he achieves certain milestones over five years or more. That would be similar to a [compensation package](https://www.nytimes.com/2018/01/23/business/dealbook/tesla-elon-musk-pay.html) Mr. Musk received in 2018 that depended on Tesla reaching stock market valuations seen at the time as unrealistically ambitious. Mr. Musk became the world’s richest man by defying expectations and hitting the targets. The company’s stock has fallen about 11 percent so far this year but is up about 70 percent over the last 12 months. Mr. Musk did not specify which products he might develop outside the company. He has already started a separate artificial intelligence business called X.AI, which last year released the Grok chatbot to selected users even though he has also highlighted the hazards of the technology in public comments. Tesla’s main use of artificial intelligence has come in its Autopilot and Full Self Driving systems, which assist drivers by taking over certain tasks in certain driving situations. Mr. Musk has said several times over the years that the company was close to perfecting the technology that would allow a car to drive itself completely. But self-driving technology has taken longer to perfect than Mr. Musk’s predictions, and many experts believe it is still years away. The carmaker has also been working on a robot it calls Optimus. The device can fold a shirt, according to a video posted on X by Tesla on Monday, but has not become a significant source of revenue. On X, some of Mr. Musk’s fans applauded his demand for a 25 percent stake, saying he earned the money. But others said it was his own fault his stake in the company has fallen. “They didn’t make you sell your shares,” one user wrote, adding, “why should the board do anything to rectify this for you?” A stake of less than 15 percent of the company, Mr. Musk said, “makes a takeover by dubious interests too easy.” > I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned. > > Unless that is the case, I would prefer to build products outside of Tesla. You don’t seem to understand… > > — Elon Musk (@elonmusk) [January 15, 2024](https://twitter.com/elonmusk/status/1746999488252703098?ref_src=twsrc%5Etfw) [Jack Ewing](https://www.nytimes.com/by/jack-ewing) writes about the auto industry with an emphasis on electric vehicles. A version of this article appears in print on Jan. 17, 2024, Section B, Page 1 of the New York edition with the headline: Musk Says No to A.I. Work Without Bigger Tesla Stake. [Order Reprints](https://nytimes.wrightsmedia.com/) \\| [Today’s Paper](https://www.nytimes.com/section/todayspaper) \\| [Subscribe](https://www.nytimes.com/subscriptions/Multiproduct/lp8HYKU.html?campaignId=48JQY) See more on: [Elon Musk](https://www.nytimes.com/spotlight/elon-musk) Read 122 comments - Share full article - 122 * ## The State of Electric Vehicles * - Pivotal Moment for U.S. Automakers: General Motors, Ford and others risk becoming relics [if they don’t catch up to Chinese carmakers and technology companies](https://www.nytimes.com/2026/03/03/business/ford-gm-ev-self-driving-cars-china.html) in electric vehicles and self-driving cars. - China’s E.V. Market: Investors are selling shares of Chinese E.V. companies, concerned that intensifying competition and shorter production cycles mean [the years of easy growth are over](https://www.nytimes.com/2026/02/19/business/china-electric-vehicle-troubles.html). - Ford Motor: The company reported a big loss for 2025 because of its troubled electric vehicle division, which it has [significantly scaled back](https://www.nytimes.com/2026/02/10/business/ford-earnings-electric-vehicles.html). - Tesla Profit Slumps: The carmaker reported a steep decline in annual profit as it [cut car prices to try to fend off growing competition](https://www.nytimes.com/2026/01/28/business/tesla-earnings-electric-vehicles.html) from established automakers like Volkswagen and newer rivals from China. - Buying an Electric Car?: Here’s our electric vs. gas [car calculator](https://www.nytimes.com/interactive/2025/upshot/ev-vs-gas-calculator.html) and how much it [costs to drive both in every state](https://www.nytimes.com/2025/10/08/upshot/ev-versus-gas-car-comparison-cost.html). Also, see how [E.V. road trips went from impossible to easy](https://www.nytimes.com/interactive/2025/09/29/upshot/ev-chargers-road-trip.html). ## Related Content ### [More in Business](https://www.nytimes.com/section/business) - [McDonald’s C.E.O. Takes a Big Bite Out of a Burger. 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Readable Markdown	Advertisement [SKIP ADVERTISEMENT](https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html#after-top) Elon Musk, the electric car company’s chief executive, said he would “build products outside of Tesla” unless the board raises his stake to 25 percent. ![Elon Musk is sitting on a stage being interviewed. He is wearing a leather jacket, holding his hands with fingers interlaced and looking to the left at the person asking him questions, whose face is not visible.](https://static01.nyt.com/images/2024/01/16/multimedia/16musk-kbpw/16musk-kbpw-articleLarge.jpg?quality=75&auto=webp&disable=upscale) “I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Elon Musk, Tesla’s chief executive, wrote in a social media post.Credit...Amir Hamja/The New York Times Jan. 16, 2024 Elon Musk, the chief executive of Tesla, stunned investors by demanding that the company’s board give him shares worth more than \$80 billion if it wants him to continue developing products based on artificial intelligence. In the latest demonstration of his disregard for conventional ways of communicating with investors, Mr. Musk said late Monday on X, the social media site he owns, that he needed to own 25 percent of Tesla to avoid takeovers and have enough control of the company as it develops robots and other artificial intelligence technology. If his demands are not met, Mr. Musk said, he would pursue unspecified ventures outside of Tesla. In addition to electric cars, Tesla has been developing a humanoid robot called Optimus, and uses artificial intelligence to develop self-driving technology, a cornerstone of the company’s strategy. Those businesses belong to Tesla, and Mr. Musk could not simply walk away with them. The company’s stock market valuation of almost \$700 billion — more than twice as much as Toyota Motor, the world’s largest automaker by annual car sales — is predicated in part on investors’ belief that the company will lead the rest of the industry in developing cars that can drive from place to place without human intervention. Investors are also betting that advanced automation will allow Tesla to manufacture cars much more efficiently and profitably than rivals. Mr. Musk owns 13 percent of Tesla after selling a substantial portion of his stake to finance his \$44 billion acquisition of Twitter, which he renamed X. The social media site has struggled under his leadership and has plunged in value. An additional 12 percent of Tesla would be worth \$83 billion at the current share price, effectively recouping Mr. Musk’s investment in Twitter — which he has said he regrets — and then some. “I am uncomfortable growing Tesla to be a leader in A.I. & robotics without having ~25% voting control,” Mr. Musk wrote on X. “Enough to be influential, but not so much that I can’t be overturned.” He went on: “Unless that is the case, I would prefer to build products outside of Tesla.” But he also said the board would take no action until a Delaware judge ruled in a [lawsuit](https://www.nytimes.com/2022/11/16/business/elon-musk-tesla-pay-trial.html) brought by a Tesla shareholder challenging an earlier compensation plan that was instrumental in making Mr. Musk the richest person in the world. Mr. Musk [testified in the Delaware case](https://www.nytimes.com/2022/11/16/business/elon-musk-tesla-pay-trial.html) in late 2022. Gregory Varallo, who represents shareholders in the lawsuit, said he did not know when there would be a ruling. No documents have been filed in the case since July. Tesla did not respond to a request for comment. The demand by Mr. Musk underlined the extent to which Tesla, which sold 1.8 million vehicles last year, is subject to his impulses. “You’re never really sure what you’re going to read from Elon Musk when you get back to the office after a three-day weekend,” said Ben Rose, president of Battle Road Research, which advises institutional investors. Mr. Rose called Mr. Musk’s demand “curious and ill-timed,” considering that Tesla faces increasing competition and difficult economic conditions. Tesla’s success under Mr. Musk forced traditional carmakers to begin offering electric vehicles, which are essential in reducing greenhouse gas emissions from transportation. But Mr. Musk’s behavior and statements have weighed on the share price and gotten him into trouble with regulators. Tesla shares fell when Mr. Musk sold some of his stake to buy Twitter. The shares also suffered after Mr. Musk said in 2018 that he had the money to [take Tesla private](https://www.nytimes.com/2023/01/17/business/elon-musk-tesla-trial-funding-secured.html) and delist it from the stock exchange. Mr. Musk was unable to execute the plan. The going-private statement led to a lawsuit by the Securities and Exchange Commission, which Tesla settled for \$40 million while agreeing that lawyers would screen what Mr. Musk’s says on Twitter. It was not clear whether Mr. Musk’s statement on X late Monday had been approved by lawyers. It would be difficult for Tesla’s board, which has been criticized for [not doing enough to control Mr. Musk](https://www.nytimes.com/2022/11/22/business/elon-musk-tesla-board-twitter.html), to grant his wish immediately or unconditionally. The company would have to issue new shares, Mr. Rose of Battle Research said. That would dilute the value of existing shares without raising additional capital for Tesla, and might spawn shareholder lawsuits. But Mr. Rose added that the board could assign Mr. Musk stock options that he would receive only if he achieves certain milestones over five years or more. That would be similar to a [compensation package](https://www.nytimes.com/2018/01/23/business/dealbook/tesla-elon-musk-pay.html) Mr. Musk received in 2018 that depended on Tesla reaching stock market valuations seen at the time as unrealistically ambitious. Mr. Musk became the world’s richest man by defying expectations and hitting the targets. The company’s stock has fallen about 11 percent so far this year but is up about 70 percent over the last 12 months. Mr. Musk did not specify which products he might develop outside the company. He has already started a separate artificial intelligence business called X.AI, which last year released the Grok chatbot to selected users even though he has also highlighted the hazards of the technology in public comments. Tesla’s main use of artificial intelligence has come in its Autopilot and Full Self Driving systems, which assist drivers by taking over certain tasks in certain driving situations. Mr. Musk has said several times over the years that the company was close to perfecting the technology that would allow a car to drive itself completely. But self-driving technology has taken longer to perfect than Mr. Musk’s predictions, and many experts believe it is still years away. The carmaker has also been working on a robot it calls Optimus. The device can fold a shirt, according to a video posted on X by Tesla on Monday, but has not become a significant source of revenue. On X, some of Mr. Musk’s fans applauded his demand for a 25 percent stake, saying he earned the money. But others said it was his own fault his stake in the company has fallen. “They didn’t make you sell your shares,” one user wrote, adding, “why should the board do anything to rectify this for you?” A stake of less than 15 percent of the company, Mr. Musk said, “makes a takeover by dubious interests too easy.” > I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned. > > Unless that is the case, I would prefer to build products outside of Tesla. You don’t seem to understand… > > — Elon Musk (@elonmusk) [January 15, 2024](https://twitter.com/elonmusk/status/1746999488252703098?ref_src=twsrc%5Etfw) [Jack Ewing](https://www.nytimes.com/by/jack-ewing) writes about the auto industry with an emphasis on electric vehicles. A version of this article appears in print on Jan. 17, 2024, Section B, Page 1 of the New York edition with the headline: Musk Says No to A.I. Work Without Bigger Tesla Stake. [Order Reprints](https://nytimes.wrightsmedia.com/) \\| [Today’s Paper](https://www.nytimes.com/section/todayspaper) \\| [Subscribe](https://www.nytimes.com/subscriptions/Multiproduct/lp8HYKU.html?campaignId=48JQY) ## Related Content [More in Business](https://www.nytimes.com/section/business) - ![The video that started it all.](https://static01.nyt.com/images/2026/03/05/world/05xp-mcdonalds-art/05xp-mcdonalds-art-square640.jpg?quality=75&auto=webp&disable=upscale) - ![](https://static01.nyt.com/images/2026/03/02/multimedia/00biz-wheels-handshake-vid-qczv/00biz-wheels-handshake-vid-qczv-square640.jpg?quality=75&auto=webp&disable=upscale) Image by Kelsey McClellan for The New York Times - ![People at a BrewDog in Columbus, Ohio, in 2021. The British company expanded rapidly, including opening locations overseas, before foundering more recently.](https://static01.nyt.com/images/2026/03/06/world/brewdog/brewdog-square640.jpg?quality=75&auto=webp&disable=upscale) Stephen Zenner/SOPA Images/LightRocket, via Getty Images - ![Consumers are growing weary of healthy-but-kinda-mushy meals.](https://static01.nyt.com/images/2026/02/26/business/00biz-bowl-bust/00biz-bowl-bust-square640.jpg?quality=75&auto=webp&disable=upscale) Natalie Keyssar for The New York Times Editors’ Picks - ![](https://static01.nyt.com/images/2026/03/14/magazine/14mag-ethicist/14mag-ethicist-square640.jpg?quality=75&auto=webp&disable=upscale) Illustration by Tomi Um - ![On certain Boeing 737 and Airbus A321 jets, row 11 offers a seat sold as a window view that shows, instead, a wall. The discovery tends to arrive after boarding.](https://static01.nyt.com/images/2026/02/26/multimedia/00xp-Seat11A-cvmj/00xp-Seat11A-cvmj-square640.jpg?quality=75&auto=webp&disable=upscale) Shutterstock Trending in The Times - ![Kristi Noem testifying before the Senate Judiciary Committee on Tuesday, where her comments led the president to fire her later in the week.](https://static01.nyt.com/images/2026/03/06/multimedia/06dc-trump-noem-gmpc/06dc-trump-noem-gmpc-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) Tierney L. Cross/The New York Times - ![Judy Garland around 1941.](https://static01.nyt.com/images/2026/03/06/obituaries/06WHM-Garland-Obit-01/06WHM-Garland-Obit-01-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) MPTV Images, via Reuters Connect - ![](https://static01.nyt.com/images/2026/03/06/well/06WELL-TREADMILL-TREND2/06WELL-TREADMILL-TREND2-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) Getty Images - ![President Emmanuel Macron bestowing the French Legion of Honor medal on Stella McCartney.](https://static01.nyt.com/images/2026/03/07/multimedia/07ST-MCCARTNEY--01-ghmt/07ST-MCCARTNEY--01-ghmt-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) Matteo Prandoni/BFA.com - ![](https://static01.nyt.com/images/2026/03/07/opinion/07calabresi-hennigan-image/07calabresi-hennigan-image-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) Illustration by Sam Whitney/The New York Times - ![](https://static01.nyt.com/images/2026/03/06/arts/Tornado-Thumb2/Tornado-Thumb2-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) Lindsey Whitaker - ![](https://static01.nyt.com/images/2026/03/05/multimedia/05FD-20-MINUTE-SOUPS-topart-pestochickpeasoup-pvhm/05FD-20-MINUTE-SOUPS-topart-pestochickpeasoup-pvhm-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) Joel Goldberg for The New York Times. Food Stylist: Hadas Smirnoff. - ![Currency traders at the Hana Bank headquarters in Seoul on Thursday.](https://static01.nyt.com/images/2026/03/05/multimedia/00Biz-Iran-AI-Energy-cght/00Biz-Iran-AI-Energy-cght-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) Ahn Young-Joon/Associated Press - ![Alberto Carvalho was hired to lead the L.A. Unified School District in 2021.](https://static01.nyt.com/images/2026/03/07/multimedia/07nat-lausd-profile-01-mvhw/07nat-lausd-profile-01-mvhw-square640.jpg?quality=75&auto=webp&disable=upscale&width=350) Philip Cheung for The New York Times - ![](https://static01.nyt.com/images/2025/10/24/podcasts/Headlines-quiz-art/Headlines-quiz-art-square640-v8.png?quality=75&auto=webp&disable=upscale&width=350) Advertisement [SKIP ADVERTISEMENT](https://www.nytimes.com/2024/01/16/business/tesla-elon-musk-stock.html#after-bottom)
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