--- title: "Elon Musk Upset He Sold Tesla Stock to Fund Twitter Disaster" description: "Elon Musk appears to be feeling the burn of his own bad decisions — and is making threats about breaking off from Tesla because of them." date: "2024-01-16" modified: "2024-01-16" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/elon-musk-tesla-threat-control" categories: - "Advanced Transport" - "Elon Musk" - "Future Society" - "Tesla" - "The Industrialists" tags: - "elon musk" - "tesla" - "the digest" - "twitter" --- # Elon Musk Upset He Sold Tesla Stock to Fund Twitter Disaster ![Elon Musk appears to be feeling the burn of his own bad decisions — and is making threats about breaking off from Tesla because of them.]() *\Image: Slaven Vlasic for The New York Times via Getty / Futurism\* ## Under Pressure Having [sold a bunch of his Tesla stake]() to fund his purchase of Twitter, Elon Musk now appears to be feeling the burn from his own bad decisions. Once again ruling via social media, [Musk tweeted in response]() to some random detractors that he wants to own more Tesla stock than he currently does because, as the mealy-mouthed mogul claims, the company can't safely make advances in AI and robotics without him. "I am uncomfortable growing Tesla to be a leader in AI & robotics without having \~25 percent voting control," Musk tweeted. "Enough to be influential, but not so much that I can’t be \[overruled\]." As it stands, the world's sometimes-richest man currently owns about 13 percent of Tesla, per [analysis from the *Wall Street Journal*](), after [selling off about $22.9 billion]() of his own shares to fund and prop up his purchase of the social network now known as X. Musk went on to say that unless he can claw some Tesla back, he "would prefer to build products outside of Tesla" — a threat, basically, that he could go off and start [yet another company]() if his demands aren't met. ## Compensatory Blues As the multi-hyphenate South African-Canadian-American added in a [subsequent response](), much of the ownership issue is related to the outstanding verdict from a 2022 case [brought by Tesla shareholders]() complaining that his compensation plan — which made him the richest man in the world — was way too big. Unsurprisingly, Musk disagrees with the shareholders' assessment and insists that he is more interested in his "voting influence" on the Tesla board than in making any more money. "If I have 25 percent, it means I am influential, but can be overridden if twice as many shareholders vote against me vs for me," he tweeted. "At 15 percent or lower, the for/against ratio to override me makes a takeover by dubious interests too easy." He's not wrong there — except that in this case, the "dubious interests" may well be Musk's own. **More on Tesla:** [*Elon Musk Posts Video of Optimus Robot, Gets Busted for Fakery*]() ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()