“Tesla is Musk, Musk is Tesla,” says Dan Ives

“Tesla is Musk, Musk is Tesla,” says Dan Ives

As Tesla Inc.shareholders gear up for a crucial vote on CEO Elon Musk‘s pay package, analysts and industry experts are voicing their concerns about the potential consequences of Musk’s departure.

What HappenedWedbush analyst Dan Ives emphasized the integral connection between Musk and Tesla, stating on X, “Tesla is Musk and Musk is Tesla.”

Ives highlighted former Ford CEO Mark Fields‘ interview on CNBC’s Last Call with anchor Brian Sullivan, where Fields said, “At the end of the day, if Elon Musk leaves, you’re going to have a drain of talent there at Tesla. That’s going to hurt them a lot,” ahead of the Tesla shareholders’ vote on Musk’s pay package.

The shareholder vote centers around whether to reinstate Musk’s $44.9 billion pay package, which was invalidated by a Delaware judge earlier this year. The decision is crucial, as Musk has hinted at the possibility of moving his artificial intelligence research to one of his other ventures.

The Future Fund LLC Managing Partner and investor Gary Black has even cautioned that Musk might leave Tesla altogether if the package is not approved.

Musk’s leadership at Tesla is considered crucial as the company shifts towards AI and robotics, including autonomous vehicles, which he has highlighted as Tesla’s future.

However, even with potential reapproval at Thursday’s annual meeting, uncertainties persist. Musk has demanded a 25% stake in Tesla, up from his current 13%, threatening to develop AI technologies elsewhere if his demands are not met, according to AP News.

His new venture, xAI, recently secured $6 billion in funding to advance artificial intelligence, underscoring his influence and the stakes involved in the upcoming vote.

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