Tesla investors have often alleged that Elon Musk pays attention to too many things simultaneously, jeopardizing the automaker’s future and market valuation.
Tesla CEO Elon Musk loves to play the role of the jack of all trades when it comes to managing his companies. But, this ‘nanomanagerial’ role of Musk seems to have become a headache for Tesla investors, who worry that the CEO, who has been personally involved in working-level decisions from car styling to supply chain issues, is distracted at a critical time for the world’s largest electric vehicle manufacturer.
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Their concern comes at a time when Tesla’s share value had slumped by around 50 per cent since early April this year when Musk announced that he had taken a stake in Twitter. The pressure has been further mounted by Musk’s Tesla share sales, which includes $4 billion last week to bring his Twitter-related sales to $20 billion.
Elon Musk is the CEO of Tesla and Twitter. Besides that, he also runs the rocket firm SpaceX, brain-chip startup Neuralink and tunnelling firm the Boring Company. This is not the first time the automaker’s investors have criticised Musk. They have alleged that he is not paying enough attention to the automaker despite the company going through a turmoiling situation.
Reuters reports that Musk said by video link to a business conference on the sidelines of the G20 summit in Bali that the amount of pressure he puts on himself is next level. Responding to an observation that many business leaders in Asia want to be the “Elon Musk of the East,” the billionaire and Tesla CEO said that, “I’d be careful what you wish for. I’m not sure how many people would actually like to be me. They would like to be what they imagine being me, which is not the same thing as actually being me. The amount that I torture myself is next level, frankly.”
First Published Date: 15 Nov 2022, 08:45 AM IST