Elon Musk says his days are 'lengthy and sophisticated' splitting time between SpaceX, Tesla and Twitter

Elon Musk, CEO of Tesla, speaks with CNBC on Could sixteenth, 2023.

David A. Grogan | CNBC

Elon Musk added to his work portfolio late remaining yr, when he acquired Twitter for $44 billion and appointed himself CEO. Whereas he recently launched a successor for that place, the job is presently nonetheless his, and he stays the CEO of Tesla and SpaceX.

He talked about trying to deal with his schedule in an interview on Tuesday on the The Wall Avenue Journal’s CEO Council Summit.

“My days are very lengthy and sophisticated as you may think,” Musk talked about. “And there’s an excessive amount of context switching,” he talked about, emphasizing that “switching context is is kind of painful.”

Musk talked about he often tries to divide his schedule “so it’s predominantly one firm on in the future.”

However that’s not always potential. This Tuesday was “a Tesla day,” he talked about, nonetheless he “may find yourself at Twitter late tonight, after which tomorrow could be partly a Tesla day as effectively, half Twitter after which Thursday could be form of a half-SpaceX, half-Tesla day.”

He described his jobs as “considerably intertwined,” and talked about “the time administration is extraordinarily tough.”

The complexity hasn’t been good for his investments. Tesla shares misplaced higher than half their price throughout the two months after the Twitter deal closed remaining yr, on concern that Musk would have a lot much less time to offer consideration to {the electrical} vehicle maker even as a result of the market was getting further aggressive. In the meantime, advertisers fled or shortly suspended their campaigns on Twitter, and in March Musk marked down the value of the company to $20 billion. Musk talked about on Tuesday that many advertisers are coming once more.

Whereas completely different executives may outsource their calendar to a chief of staff or govt assistant, Musk talked about he does most of his scheduling on his private. He talked about he has “one part-time assistant” to help him deal with his work schedule, a incontrovertible fact that was corroborated by a former Tesla employee.

“It’s inconceivable for another person to know what the priorities are,” Musk talked about, together with that he’s typically working most hours of the day, wrapping up at 2 a.m., his typical bedtime.

At Twitter, Musk now plans to shift into the place of govt chairman and know-how chief, with former NBC advert govt Linda Yaccarino slated to become CEO.

Nevertheless, Twitter is primarily a know-how agency, so his ongoing job as CTO will doable be demanding.

Thorold Barker, The Wall Avenue Journal’s editor for Europe, Center East and Africa, requested Musk if he has a succession plan in place at his firms.

“Succession is without doubt one of the hardest, age-old issues,” Musk talked about. “It’s plagued international locations, kings, prime ministers and presidents, and CEOs because the daybreak of historical past.”

Musk talked about he’s suggested his boards, “in all instances,” who’s his choice to take over in a “worst-case situation.” He emphasised the companies’ boards might also go in a single different route as far as who must step into his sneakers.

At Tesla, there’s been speculation that finance chief Zachary Kirkhorn is amongst candidates who Musk would endorse as a successor.

As CNBC beforehand reported, Musk’s companies incessantly interact in related event transactions, and he’s confronted political pressure to further cleanly separate them.

After Musk took over Twitter, for example, he licensed dozens of workers from Tesla, SpaceX and the Boring Co. to help him on the social media enterprise. The “transition staff” he established at Twitter was involved in each little factor from code consider to personnel and facilities-related selections.

Musk was moreover a co-founding director and donor to OpenAI, a former non-profit that’s now backed by Microsoft. Monetary filings from 2017 for OpenAI reveal that Musk donated spherical $250,000 worth of Tesla autos as part of his tens of tens of millions of {{dollars}} worth of donations to OpenAI once more in its earlier days.

Of late, Musk has been overtly attacking OpenAI’s firm building and the amount of possession it’s purchased to Microsoft. On Tuesday, Musk talked some about X.ai, a competitor he needs to develop with a view to downside OpenAI, and Google’s DeepMind.

“I don’t wish to bounce the gun right here on bulletins,” Musk talked about. “However OpenAI has a relationship with Microsoft that appears to work pretty effectively, and it’s doable that X.ai and Twitter and Tesla would have one thing comparable.”

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