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Fortune
Fortune
Amanda Gerut

Elon Musk wants more control of Tesla so activist investors can’t boot him—but not so much the board can’t fire him if he goes ‘crazy’

Tesla Inc. Elon Musk United States Donald Trump
Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. (Credit: Photo by Kevin Dietsch/Getty Images)
  • Tesla CEO Elon Musk held his first call with analysts since announcing last quarter he would step back from the Department of Government Efficiency, which was a precursor to his epic fallout with President Donald Trump. The electric vehicle manufacturer reported severe declines in revenue, although Musk told analysts on Wednesday he remains “optimistic” about Tesla’s ability to grow. 

Tesla CEO Elon Musk just confessed that he thinks his 13% ownership stake in the electric vehicle manufacturer leaves him vulnerable to activist shareholders who could move to oust him from the $1 trillion company. Still, he admitted he shouldn’t have so much control over Tesla that the board can’t fire him if he goes “crazy,” he said during an earnings call on Wednesday. 

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