Tesla's stock price has fallen down by more than 9 percent following a CNBC report that Elon Musk is planning to take over Twitter's CEO position. Today's price action has decreased Tesla's market cap by more than $90 billion.
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Tesla CEO Elon Musk is one of the busiest people on earth. In addition to running Tesla on a day-to-day basis, Musk is also the Chief Product Architect and plays a significant engineering role at the EV maker.
Previously, Musk has even spoken about how he is behind some iconic design decisions at the EV maker such as the Cybertruck’s cold-rolled stainless steel exoskeleton, and the Model S’s center screen.
Musk is also highly involved in the design of Tesla’s factories which he calls the machine that builds the machine. At his recent appearance at TED 2022 Musk said that he has spent so much time trying to improve Tesl’s manufacturing capabilities that he thinks he now knows more about manufacturing than anyone alive.
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Musk also added that every good minute he spends thinking about Tesla translates to a million dollars and gave an anecdote about how he was able to improve Tesla’s financials by $100 million in a 30-minute meeting.
In addition, Musk is also the CEO of SpaceX and as he has done with Tesla, Musk has also taken a significant engineering role in his space venture. Currently, Musk serves as the company’s Chief Technology Officer and is highly involved in the design and manufacturing of SpaceX’s new engine, Raptor, and new rocket, Starship.
Musk also has other projects like Neurallink and The Boring Company (TBC). At TBC Musk was the brains behind a new form of transportation that he calls, Hyperloop and he recently announced that TBC will attempt to build a working hyperloop.
Elon is also a father to 7 children and an overall cultural icon with multiple requests for media appearances. Musk admitted in 2015 that he only took 2 weeks off in the preceding 12 years.
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And recently Musk has agreed with the Twitter board to buy the social media platform for $44 billion and is currently in the midst of assembling investors to go in with him in Twitter’s transition to a privately held company.
All these and you would think Musk literally would not have a second to spare. However, a new report suggests that Elon is planning to take a more active role at Twitter.
According to a CNBC report citing unnamed sources, “Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company.”
After this news broke Tesla’s stock went down by over 9% and is currently trading at $873 per share. Today’s price action has decreased Tesla’s market cap by over $90 billion and the EV maker is currently valued at $894 billion.
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Even though the CNBC report said Musk is looking to become Twitter’s CEO only for a few months, several people have pointed out that when Musk first become Tesla’s CEO it was initially meant to be only for a few months and after 13 years the serial entrepreneur is still running the EV maker.
Musk has also on multiple occasions said after Tesla becomes more stable he plans to leave his current role and transition full time to working on making humanity multi-planetary. And Musk taking the CEO role at Twitter might start fears that he’s planning to retire his Tesla CEO position.
As of now, this is all conjecture and Musk hasn’t officially confirmed what role he plans to play at Twitter. However, we will be sure to keep you updated as we get more information. Until then, make sure to visit our site torquenews.com/Tesla regularly for the latest updates.
So what do you think? Do you fear if Musk becomes Twitter’s CEO that he will have to decrease his involvement at Tesla? Also, what do you think a post-Musk Tesla will be? Let me know your thoughts in the comments below.
Image: Courtesy of Tesla
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Tinsae Aregay has been following Tesla and The evolution of the EV space on a daily basis for several years. He covers everything about Tesla from the cars to Elon Musk, the energy business, and autonomy. Follow Tinsae on Twitter at @TinsaeAregay for daily Tesla news.
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