Running a series of the world’s most valuable companies, is there anyone like Elon Musk?
On April 14, the CEO of Tesla and SpaceX made an offer to buy Twitter for $43 billion. The successful deal will add one of the largest companies in the world to the list of companies owned by Elon Musk. Currently, Mr. Musk owns Tesla, a billion-dollar company, and SpaceX, a trillion-dollar company. In addition, the billionaire also owns two smaller start-up projects, Neuralink and The Boring Company.
The good news for Musk is that there is a precedent for running three companies at once. But the bad news is that the most recent CEO to do so was Carlos Ghosn, the former CEO of Nissan and Renault, and the former chairman of AvtoVaz and Mitsubishi.
Mr. Ghosn actually held senior management roles at all four companies for a period of time. In 2018, he was arrested in Japan for financial misconduct while running three companies. Mr Ghosn fled to Lebanon and is currently wanted internationally.
In 2014, in an interview with LinkedIn’s Vice President, Ghosn shared that the key to his ability to run multiple companies at once was to avoid multitasking. He added that his schedule is usually arranged a year in advance. The country you go to will decide which companies you should focus on.
“I want to make sure that the different teams feel accountable and that there is no confusion between different companies,” Mr. Ghosn added.
Elon Musk probably won’t see it that way. At the SXSW 2018 conference, Mr. Musk said he divides his time properly for his projects by hiring a strong team and allocating appropriate responsibilities to them. That way, he could spend most of his time on engineering and design.
Sharing leadership time may be familiar to Twitter, as founder Jack Dorsey served as both CEO of Twitter and CEO of his start-up Square from October 2015 to November 2021. .
Mr. Dorsey told Fast Company in 2016: “I like to have a lot of repetition in my schedule. It allows us to see how we’re really growing, rather than randomness.” .
Ironically, when Mr. Dorsey began taking on both roles, Mr. Musk advised him against doing so. Elon Musk said at the 2015 Vanity Fair New Establishment Summit: “I don’t recommend running two companies. It really reduces your freedom a lot.”
Billionaire Elon Musk currently owns 9.2% of Twitter shares, making it the company’s largest outside shareholder. Twitter has offered Musk a board seat, pledging to own no more than 14.9% of the outstanding shares in the company. But later, Twitter also announced that Mr. Musk had turned down the position.
On April 14, Mr. Musk, who now has more than 81 million followers on Twitter, said that his motivation when he bought the company was to unlock the “extraordinary potential to make Twitter a global free speech platform.” “.
On the same afternoon of April 14, after his suggestion on Twitter, Mr. Musk also shared at the TED2022 press conference in Vancouver that he was not sure if his effort would be successful. Mr. Musk said he had a backup plan but did not disclose any further details.
Source: CNBC
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