Latest news with #TeslaOwnersSiliconValley
Time of India
04-08-2025
- Automotive
- Time of India
'I might be ousted': Elon Musk's shocking warning about Tesla's future
Tesla CEO has dismissed speculation that he has personal loans against his Tesla stock but simultaneously voiced deep concern about his future control over the electric vehicle giant. Tired of too many ads? go ad free now Responding to discussions around his current shareholding and voting power, Musk warned that activist investors could potentially oust him, jeopardizing Tesla's ambitious plans in AI and robotics. The comments come amid ongoing legal and shareholder scrutiny, as Musk's once-dominant grip on Tesla may weaken despite his technological leadership and vision. Elon Musk denies holding loans against Tesla stock The conversation was sparked by a post from the Tesla Owners Silicon Valley club, which outlined Elon Musk's shareholding as 21.2%. In response to claims that a large portion of these shares had been pledged as collateral for loans, Musk clarified, 'Just FYI I don't have personal loans at this time against Tesla stock.' He also pointed out that taxes on his stock options are nearly 45%, making the net increase in voting control only around 4%, a modest gain considering the risks and financial burden involved. While denying current loans, Musk expressed unease over the possibility of being outmaneuvered by activist shareholders. He wrote, 'It is worrying in that I don't want to build millions of robots and then potentially be ousted by activists and unable to ensure that public safety remains of paramount importance.' This remark underscores Musk's fear that a loss of control could lead to a shift in Tesla's direction, especially in ethically sensitive fields like artificial intelligence and humanoid robotics. AI, robots, and the battle for Tesla's soul Tesla's growing focus on autonomous systems, including its humanoid robot Optimus, has been a key part of Musk's vision. Tired of too many ads? go ad free now He believes responsible AI development requires consistent oversight, preferably by him. His concern suggests that without his leadership, Tesla could compromise on safety, speed, or long-term strategy under pressure from short-term-minded investors or corporate governance advocates. Legal disputes could decide the future Musk's options from his 2018 compensation package, amounting to roughly 304 million shares, are currently under legal dispute and do not carry voting rights. A decision by the Delaware Supreme Court could significantly impact his influence over Tesla. If the court rules against him, Musk's voting power may remain diluted, increasing the risk of a shareholder-driven reshuffle. Musk's warning adds to a broader pattern of tech founders fighting to maintain control over their companies even as they go public and face mounting investor scrutiny. With Tesla at the intersection of AI, energy, and robotics, the stakes are especially high. Whether Musk retains command or is sidelined by governance mechanisms could define not just Tesla's future but the future of consumer AI and robotics worldwide.
Time of India
01-08-2025
- Automotive
- Time of India
Elon Musk clarifies: ‘I don't have personal loans at this time against Tesla stock'; adds ‘It is worrying…'
Elon Musk recently responded to an online conversation about Tesla's major shareholders, stating that he does not have any loans against his Tesla shares. In the post, he also highlighted concerns about losing control of the company in the future. It all started when an online Tesla club named Tesla Owners Silicon Valley shared an X post depicting shareholder stakes of the EV maker. It showed Elon Musk holding 21.2% shares of the company. To this, an X user replied 'That is a bit misleading, until we know for the DE Supreme Court'. She further added: 'As of now, Elon holds @ 12.8% of Tesla's outstanding shares, totaling over 410 million shares. (He has pledged more than half of these shares as collateral for personal loans up to $3.5 billion.) Additionally, Elon has options to purchase around 304 million shares from the 2018 compensation package, which, if exercised, could increase his stake to approximately 20.5%, though these options are currently under legal dispute and don't give him any voting rights.' Elon Musk says worried about weakening control over Tesla Tesla CEO Elon Musk replied to the discussion, saying by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Salma Hayek, 58,Shows Her Huge Size In New Photos Boite A Scoop Undo 'Just fyi I don't have personal loans at this time against Tesla stock . Also, the taxes on the options are ~45%, so net gain in voting control is more like 4%.' The tech billionaire further expressed concern about the future, especially if his control over Tesla weakens. He wrote 'It is worrying in that I don't want to build millions of robots and then potentially be ousted by activists and unable to ensure that public safety remains of paramount importance.' Musk has often spoken about the future of Tesla's AI and robotics projects, including its humanoid robot, Optimus. His latest comment suggests he's concerned that if activist investors gain influence, it could affect how Tesla handles safety in these projects. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Al Arabiya
10-07-2025
- Automotive
- Al Arabiya
Tesla to expand robotaxi service within two months: Elon Musk
Tesla will expand its robotaxi service to the San Francisco Bay Area 'in a month or two', depending on regulatory approvals, CEO Elon Musk said on Wednesday. Tesla last month rolled out a test of the long-promised service in a limited area of Austin, Texas, with about a dozen vehicles, a select group of passengers and many restrictions, including a safety monitor in the front passenger seat. Tesla will expand the service to 'a larger area in Austin this weekend,' Musk said on his social media platform X in response to a post from a user about the lack of an update on expansion. Musk did not specify the location or size of the expansion. Another X user - Tesla Owners Silicon Valley - then asked about an expansion to the Bay Area, and Musk replied, 'Waiting on regulatory approvals, but probably in a month or two.' The successful expansion of robotaxis will be crucial to Tesla's future as sales of its aging lineup of electric vehicles have slumped amid rising competition and a backlash against Musk's embrace of far-right political views. Much of the company's trillion-dollar valuation hangs on Musk's bet on robotaxis and humanoid robots that are powered by artificial intelligence. Commercializing autonomous vehicles has been harder than anticipated with high costs, tight regulations and investigations forcing many, including General Motors' Cruise unit, to shut down. Until Tesla's recent rollout, Alphabet's Waymo was the only company running driverless robotaxis charging fees from passengers. Waymo with about 1,500 vehicles has been expanding its service cautiously for years and is currently available in San Francisco and other cities in the Bay Area, Los Angeles, Phoenix, Austin and Atlanta. Musk has said Tesla will ramp up the service rapidly to other US cities. But while Tesla faced almost no regulation in Texas, California tightly controls where and how firms can operate autonomous vehicles and requires testing data for permits. In California, Tesla would need a series of permits from the state's Department of Motor Vehicles (DMV) and the California Public Utilities Commission (CPUC) to operate a fully autonomous robotaxi service that charges customers. The CPUC in March gave Tesla the first in a series of approvals required to eventually launch the service. The DMV and CPUC did not respond to Reuters' requests for comments outside of regular business hours. Tesla's public test in Austin led to multiple traffic problems and driving issues, social media videos from the company-selected riders showed over the first few days.
CNA
10-07-2025
- Automotive
- CNA
Tesla to expand robotaxis to San Francisco area within two months, Musk says
SAN FRANCISCO :Tesla will expand its robotaxi service to the San Francisco Bay Area "in a month or two", depending on regulatory approvals, CEO Elon Musk said on Wednesday. Tesla last month rolled out a test of the long-promised service in a limited area of Austin, Texas, with about a dozen vehicles, a select group of passengers and many restrictions, including a safety monitor in the front passenger seat. Tesla will expand the service to "a larger area in Austin this weekend," Musk said on his social media platform X in response to a post from a user about the lack of an update on expansion. Musk did not specify the location or size of the expansion. Another X user - Tesla Owners Silicon Valley - then asked about an expansion to the Bay Area, and Musk replied, "Waiting on regulatory approvals, but probably in a month or two." The successful expansion of robotaxis will be crucial to Tesla's future as sales of its aging lineup of electric vehicles have slumped amid rising competition and a backlash against Musk's embrace of far-right political views. Much of the company's trillion-dollar valuation hangs on Musk's bet on robotaxis and humanoid robots that are powered by artificial intelligence. Commercializing autonomous vehicles has been harder than anticipated with high costs, tight regulations and investigations forcing many, including General Motors' Cruise unit, to shut down. Until Tesla's recent rollout, Alphabet's Waymo was the only company running driverless robotaxis charging fees from passengers. Waymo with about 1,500 vehicles has been expanding its service cautiously for years and is currently available in San Francisco and other cities in the Bay Area, Los Angeles, Phoenix, Austin and Atlanta. Musk has said Tesla will ramp up the service rapidly to other U.S. cities. But while Tesla faced almost no regulation in Texas, California tightly controls where and how firms can operate autonomous vehicles and requires testing data for permits. In California, Tesla would need a series of permits from the state's Department of Motor Vehicles (DMV) and the California Public Utilities Commission (CPUC) to operate a fully autonomous robotaxi service that charges customers. The CPUC in March gave Tesla the first in a series of approvals required to eventually launch the service. The DMV and CPUC did not respond to Reuters' requests for comments outside of regular business hours.
Int'l Business Times
19-06-2025
- Business
- Int'l Business Times
What Is Starbase? Elon Musk Builds a SpaceX City With Shops, Worker Housing and Its Own Mayor — But Texas Locals Aren't Happy
Elon Musk's Starbase, SpaceX's self-contained city in South Texas, became official in May 2025, now planning major expansion. While it offers worker housing and amenities, local residents are unhappy, citing environmental worries impacting wildlife and public beach access. Discontent is brewing among the South Texas residents who fear that Elon Musk's ambitious project Starbase is being developed at the cost of environment, health and their living. As per MyRGV, SpaceX's expansion has angered residents in South Texas due to their worries about its overall adverse effects on their life. Since officially gaining city status in May 2025, Starbase is actively developing into a comprehensive company town with the ongoing plans involve building more accommodation, retail spaces, and eateries so as to cater to the increasing number of employees who commute 40 minutes from Brownsville. The locals have apprehensions about the approval which SpaceX got recently to increase rocket launches from five to 25 annually. What Is Starbase? Starbase is a recently established city, home to the SpaceX complex, which shares its name. As part of its Starship programme, the company handles spacecraft design, production, and launch within these facilities. SpaceX has gradually established a company town around its Starbase facilities for close to a decade. While the area once had about 30 residences, SpaceX has acquired nearly all of these previous homeowners' properties. "Starbase, Texas, is now a real city!" - @elonmuskOn May 3, 2025 — SpaceX made it official.212 voted yes. 6 voted city of Starbase, Texas is SpaceX VP Bobby roads, schools, even healthcare all by SpaceX. This is no town. It's a… — Tesla Owners Silicon Valley (@teslaownersSV) May 8, 2025 The Texas Tribune reports that the area's population has since expanded to almost 500 individuals, many of whom reside in Airstream trailers and modular homes. Jordan Buss, senior director of environmental health and safety at SpaceX, and Jenna Petrzelka, former manager of engineering operations at SpaceX, filled the two commissioner roles. Bobby Peden will manage the daily administrative duties unless the commission appoints a city manager. Where Is Starbase Located? Situated about 25 miles east of Brownsville, Texas, on the north side of the US-Mexico border, Starbase's boundaries follow State Highway 4. This encompasses Boca Chica Village, part of Boca Chica Beach, and land used or earmarked by SpaceX for its facilities. State Highway 4 is the only road in and out of Starbase and provides local access to Boca Chica Beach. 🚨🇺🇸 STARBASE ON TRACK TO BECOME AMERICA'S FIRST SPACE-AGE CITYStarbase, Texas is about to go official. With 90% voter support expected, the SpaceX hub near Brownsville is on the verge of becoming its own city. The area — home to SpaceX's Starship factory — would span 1.5… — Mario Nawfal (@MarioNawfal) April 26, 2025 SpaceX began acquiring land near Boca Chica Beach in 2012, aiming to build a commercial spaceport, which it announced in 2014. By the time it became operational in 2019, SpaceX had refocused its local efforts on Starship, a reusable spacecraft intended for crew and cargo transport to space. SpaceX has since expanded its operations beyond the launch complex to include offices, production, and testing sites. In 2024, Musk declared the company's headquarters would relocate from California to Starbase, referencing a new gender identity law. Local Concerns Erupt SpaceX's expansion has reportedly angered other local residents due to worries about its adverse effects on the environment, wildlife, and public beach access. The city's swift growth and strong links to SpaceX, coupled with Musk's controversial public image, have generated unease over potential environmental harm and the degree of corporate sway in local governance. Environmental Impact and Legal Challenges Environmental groups voice concerns over the added noise, heat, and debris from operations affecting local wildlife, waterways, and nearby protected lands. Specifically, they worry about endangered species such as the Kemp's ridley sea turtle and the piping plover, a bird species protected by the Migratory Bird Treaty. The SpaceX explosion was so loud, I lowk thought we got bombed for a second 😭. The house rumbled and the sky lit up; it was so loud, despite being several miles from Starbase — (Flames) Senator Flamesceza ★ (@Flamesceza) June 19, 2025 According to CNBC, environmental agencies have cited SpaceX for Clean Water Act violations. Additionally, environmental advocacy groups have sued both SpaceX and the Federal Aviation Administration (FAA), arguing the company failed to adequately prevent or rectify harm to the surrounding environment, including wildlife refuges and other protected areas. The FAA has denied these claims. SpaceX maintains it has implemented 'an extensive list of mitigations developed with federal and state agencies.' The company also organises quarterly beach clean-ups and works with Sea Turtle Inc. to locate and relocate injured sea turtles. Originally published on IBTimes UK This article is copyrighted by the business news leader
