Elon Musk will successfully lead the top three

Elon Musk will successfully lead the top three

Elon Musk’s move to buy Twitter could have an unwanted side effect for the billionaire: adding another big company to his already full schedule.

Currently, the CEO of Tesla and SpaceX has offered to buy every Twitter share he does not already own – 90.8% of the company – in a business worth about $ 43 billion, according to CNBC. Thus, the agreement would add another of the largest companies in the world to Musk’s ownership portfolio: Tesla and SpaceX are already companies worth one trillion dollars and several billion dollars, respectively.

In this context, even if Musk successfully acquires Twitter and refuses to appoint a CEO, it is very likely that he would like to influence the day-to-day operations of the company, which could lead to a serious time crisis for the richest person. from the world. And while the management of three companies simultaneously is unheard of – Musk, who is the CEO of Neuralink, is already doing so – the management of three of the largest companies in the world is almost unprecedented.

Elon Musk also owns two smaller businesses, Neuralink and The Boring Company

In that sense, it is good news for Elon Musk: it has happened before. The bad news is that the most recent known director who attempted this feat was none other than Carlos Ghosn, the former CEO of Nissan and Renault and the former president of AvtoVaz and Mitsubishi. Ghosn has held top roles for all four companies for a while and led three of them in 2018, when he was arrested in Japan on charges of financial misconduct. Ghosn fled to Lebanon, which does not have an extradition treaty with Japan, where he now lives as an internationally wanted fugitive.

During the 2018 SXSW, Elon Musk said that he has effectively divided his time between his various businesses, hiring a strong team and assigning responsibilities to employees accordingly. In this way, he said, “I spend most of my time on engineering and design.”

Musk is currently Twitter’s largest external shareholder, holding 9.2% of the platform. Twitter later offered Musk a position on their board, warning that he could not hold more than 14.9% of the company’s remaining shares. Five days later, the company reported that Musk refused the position.

In his view, Musk, who has more than 81 million followers on Twitter, said his motivation for buying the company is to unlock Twitter’s “extraordinary potential” to be “the platform for freedom of expression around the globe.”