Part 8/14:
The intricacies of shareholder voting are at play here. For example, the move to solidify Musk’s control involves passing a vote on Texas re-domiciliation, which requires a specific majority of the company's float — around 50% of the total shares outstanding, or about 1.6 billion shares of Tesla’s approximately 3.89 billion outstanding.
However, participation levels fluctuate, and non-participating shareholders effectively cast a "no" vote by omission. This complicates efforts, as shareholder apathy or abstentions could hinder the move. It’s also noted that votes cast by institutions like Vanguard and BlackRock could be pivotal — if they support the move, it increases the probability of success.