Saturday, May 25, 2024

Elon Musk could run three major companies at once

Immigration News

Mehr Ali Altaf
Mehr Ali Altaf
Mehr Ali is a young bilingual journalist from Afghanistan working for the English language version of Khaama Press online. His main responsibility include researching and writing news reports for the sports, tech and entertainment sections.

Elon Musk’s bid to acquire Twitter might have an undesirable side-effect for the billionaire: adding yet another large company to his jam-packed schedule.

The Tesla and SpaceX CEO has offered to buy every Twitter share he doesn’t already own — 90.8% of the company — in a deal worth roughly $43 billion, according to a regulatory filing disclosed on Thursday.

The deal would add another of the world’s largest companies to Musk’s ownership portfolio: Tesla and SpaceX are already a trillion-dollar company and multibillion-dollar companies, respectively.

Musk also owns two smaller start-up ventures, Neuralink and The Boring Company.

Even if Musk successfully purchases Twitter and declines to name himself CEO, it’s highly likely that he’d want to influence the company’s day-to-day operations, potentially leading to a serious time crunch for the world’s richest person.

And while running three businesses simultaneously isn’t unheard of — Musk, who’s Neuralink’s CEO, already does it — leading three of the world’s largest companies all at once is nearly unprecedented.

Musk may feel differently. During a SXSW panel in 2018, he said he effectively split his time between his various ventures by hiring a strong team and allocating responsibilities appropriately to them. That way, he said, “almost all of my time is spent on engineering and design.”

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