"I don’t have personal loans against...": Elon Musk clarifies over ownership concerns

Elon Musk

Tesla CEO Elon Musk has refuted claims suggesting he has active personal loans backed by Tesla stock. Responding to a discussion on X (formerly Twitter), Musk stated clearly, "I don’t have personal loans at this time against Tesla stock," pushing back against suggestions that his influence over the company might be compromised due to pledged shares.

The conversation began after a graphic showing shareholder data sparked questions about how much of Tesla Musk actually controls. A user argued that his real stake was closer to 12.8%, citing legal uncertainties and earlier reports of pledged shares.

Musk’s 2018 stock option package—currently the subject of a legal case—could increase his total stake significantly if granted. However, he noted that tax obligations would reduce the net impact on voting control, adding, “The taxes on the options are ~45%, so net gain in voting control is more like 4%.”

These remarks reflect ongoing uncertainty about how much operational control Musk can maintain, especially as Tesla continues to attract a broad base of investors.

More than just numbers, Musk expressed concern over losing strategic direction at Tesla. “It is worrying... I don’t want to build millions of robots and then potentially be ousted by activists,” he said, suggesting that shareholder shifts could interfere with key initiatives like Tesla’s AI and robotics development.

Musk has positioned Tesla not just as an EV company, but one leading the push toward artificial general intelligence and autonomous systems. The concern is that outside pressures could derail this focus, particularly on safety.

As legal proceedings around Musk’s stock options continue, so does the conversation about founder control, corporate direction, and how emerging technologies should be governed. Musk’s recent statements indicate he sees his continued leadership as critical to the company’s future.