All articles tagged with #shareholder control
Originally Published 7 months ago — by Barron's
President Donald Trump's control of Trump Media & Technology Group is weakening as the company plans to issue new stock and convertible notes to invest in Bitcoin, diluting his family's stake below 50% and risking loss of control over the social network.
Originally Published 2 years ago — by Yahoo Finance
Elon Musk is pressuring Tesla's board of directors for more control over the company, citing the need to lead in AI and robotics. His demands, along with concerns about his alleged drug use and his $50 billion CEO performance package, have raised questions about the board's oversight. Critics argue that the board, comprised of Musk allies, lacks independence and may not challenge his requests. The outcome of a legal dispute over Musk's compensation could influence the board's ability to check his demands, while the company's stock performance may also impact the board's response.
Originally Published 2 years ago — by NDTV
Elon Musk expressed discomfort with growing Tesla's leadership in AI and robotics without achieving 25% voting control, suggesting he would prefer to build AI products outside of Tesla if this condition isn't met. He argued that Tesla is a collection of startups and emphasized the company's advancements in AI and robotics. Musk's desire for greater control comes amid shareholder dissatisfaction and a decline in Tesla's stock value, with concerns raised about the company's focus and direction.
Originally Published 2 years ago — by CNBC
Claims that asset managers like Vanguard, BlackRock, and State Street "own" or "control" major U.S. corporations are debunked. While these companies are top shareholders in many prominent firms, they manage index funds on behalf of investors, not for personal gain. The asset managers use proxy voting to advance the best financial interests of their shareholders, and their voting records show that the majority of votes are on routine corporate matters. Claims of a "cartel" pushing ESG initiatives are unfounded, as the asset managers often disagree on key votes and have launched pilot programs to allow shareholders to direct voting on certain issues.