Elon Musk has said on multiple occasions recently — on Twitter, in court, on Twitter again, and back in the same court — that he doesn’t want to be CEO.
He said that before and after he became the CEO of the fifth company, which seems like too much, at least not for Tesla shareholders to accept. Since Musk disclosed his stake in Twitter on April 4, the auto and clean energy company, which accounts for a third of his net worth, has lost about $749 billion in market value.
A Twitter poll on whether he should resign as head of Twitter — which, it turned out, should be the deciding vote — didn’t stop Tesla from bashing. Using his tens of billions of Tesla stock to overpay for the social media company proved disastrous. Musk has gone from arguing that Twitter is doing better under his leadership, to describing it as being on the fast track to bankruptcy, or repeatedly assuring his followers that he’s done selling Tesla stock, and then dumping it, that doesn’t make sense. Help again and again.
When will Tesla’s shareholders or board come to enough conclusions? Some are already there.
“As his fan, I invested in [because] Leo KoGuan, one of Tesla’s largest individual shareholders, tweeted last week, “Of course I’d prefer Elon as CEO, but he’s quit Tesla.”
There is no indication that Tesla directors feel the same way. Several members of the board, including his brother Kimbal, have stood by Musk throughout: from the regrettable SolarCity acquisition, to an April Fool’s Day tweet about Tesla’s bankruptcy, calling critics paedophiles.
After Musk made false and reckless claims that he had enough money to take Tesla private, the SEC sought to strengthen Tesla’s corporation by removing him as chairman and forcing the board to add two independent directors governance. The effort was doomed from the start — one of the directors who joined was billionaire Larry Ellison, a friend and confidant of Musk who left the board less than four years later. He and the other directors have not spoken publicly about Musk telling 60 Minutes he disrespected the SEC, or using the agency’s initials to refer to himself receiving oral sex.
In private, Ellison and other Musk fans explained Musk’s behavior to Jeffrey Sonnenfeld, senior associate dean for leadership programs at the Yale School of Management. After all, has the professor ever managed to launch rockets into space and land them vertically back to Earth?
“It’s true, I didn’t manage to do that, and you have to admit that he has a phenomenal engineering genius and entrepreneurial will,” Sonnenfeld said of Musk in a phone interview. “It’s historic.” , the world is, he’s better off on the planet in general.”
That said, the Twitter poll that Musk has vowed to abide by is just one of the most recent votes against him. Last week, Sonnenfeld hosted the Yale CEO Leadership Institute’s annual CEO Summit, where chairmen, presidents and CEOs answered confidentially questions about a range of topics that dominated business news headlines.
Musk underperformed among his 100 peers: 98% said he was overpaying for Twitter; 79% said he would damage the value of the company he ran; 56% said the company should stop Advertise on Twitter.
Sonnenfeld said of Musk’s track record: “There have been some outstanding technological achievements. But we can match each of them with what the media used to think were 10 failures because he was rocking a new, flashy bright objects and distract your attention.”
For example, will the 1 million robotaxis that Musk said about four years ago be on the road three years ago? Where is the Roadster that Musk claims can fly (which Sonnenfeld calls a “Chitty Chitty Bang Bang car”)? He showed a prototype five years ago and promised to launch it within two years. It’s not yet on the market.
“Tesla is doing better than ever!” Musk tweeted last week in response to a shareholder who had a falling out with him on Tuesday. “We can’t control the Fed. That’s the real problem.”
Investors haven’t bought into that argument, perhaps because Musk has provided ample evidence that he’s focused on Twitter. On the day he fell from the top of the Bloomberg Billionaires Index, Musk visited the Twitter space with Marc Andreessen and other admirers, spending about 25 minutes talking about artificial intelligence, his approach to using and running social media services, boos He was on stage at Dave Chappelle’s talk show in San Francisco, and Sam Bankman-Fried deserved his punishment.
Tesla didn’t show up until the end.
“Speaking of Tesla,” Musk said. “I have a Tesla meeting and I’m late. I have to leave.”
First published date: December 21, 2022 at 18:30 pm CST
https://auto.hindustantimes.com/auto/electric-vehicles/does-elon-musk-still-want-to-be-the-ceo-of-tesla-twitter-poll-restarts-chatter-41671627209102.html