Elon Musk vs Wall Street: Tesla boss declares war on investor 'terrorists'

Elon Musk says he plans to increase his ownership in Tesla, not for personal wealth, but to protect the company from what he calls “external manipulation.”

Speaking during a recent investor call, the Tesla CEO clarified that his goal is to secure greater voting control over Tesla while still remaining accountable.

“Not that I’m going to be spending money. We need enough voting control to ensure I have a strong say—but not so much that I can’t be fired if I go off the rails,” Musk said.

Musk claimed his push for control is to defend Tesla against influential shareholder advisory firms: Institutional Shareholder Services (ISS) and Glass Lewis, which he branded “corporate terrorists.”

He accused the firms of repeatedly giving “bad advice” that could harm Tesla’s future.

The tech billionaire noted that major index funds often follow the voting recommendations of ISS and Glass Lewis, potentially giving them outsized influence over Tesla’s direction.

The firms had previously urged investors to vote against Musk’s multibillion-dollar compensation package, though shareholders later approved it with a large majority.

Currently, Musk holds around 16% of Tesla’s outstanding shares and seeks to increase his stake by about 10%.

His new compensation plan, which remains under legal review, could give him the right to purchase an additional 423 million shares, potentially making him the world’s first trillionaire.