Musk demands bigger stake in Tesla as price for AI work

Elon Musk, the CEO 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, Musk said late Monday on X, the social media site formerly known as Twitter that he owns, that he needed to own 25 per cent of Tesla to avoid takeovers and have enough control of the company as it develops robots and other AI technology.

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