Investors and experts are stressing the issue of whether Tesla will suffer as a result of Elon Musk‘s Twitter preoccupation. When questioned about his management of Twitter and Tesla on Monday, CEO Musk responded:
“I am working at the absolute most amount…from morning til night, seven days a week.”
CNN Business reported Musk’s statement via videolink at the G20 summit in Bali:
“I have too much work on my plate that is for sure.”
Elon Musk’s empire
As we all know, Musk is the CEO of Tesla and Twitter. Apart from that, he is also the CEO of the tunneling business The Boring Company, brain-chip business Neuralink, and rocket company SpaceX.
Undoubtedly, the famous billionaire has established an empire in the business world.
Musk reportedly appeared on screen with candles lit while wearing a batik shirt that the organizers had provided. He clarified that he was speaking from a position that had recently lost power.
“I’m just looking at this video and it’s so bizarre,” Musk said. “I’m sitting here in the dark surrounded by candles.”
Investors’ worries
Investors in Tesla are concerned that Elon Musk’s focus on Twitter could hurt the world’s largest automaker.
However, since Musk announced the start of his Twitter acquisition in April, the value of Tesla’s shares has decreased by half. Notably, the pressure has increased due to his Tesla share sales.
In fact, his selling of Tesla shares included another $4 billion last week to push his Twitter-related transactions to $20 billion.
Investors are now doubting CEO Musk’s credibility because of these unusual actions and attitudes. Given that, he must demonstrate that he can run both businesses effectively without favoring one over the other.
