Tesla is a manufacturing corporation. Thus, it needs a typical management approach centered on meticulous oversight, control, and implementation of work plans. Who Is Elon Musk Employees must closely coordinate tasks with other employees and machinery and report to their places immediately. As a service company, Twitter needs a cutting-edge management approach that unleashes the innovation and creativity of top people. Instead of emphasizing how employees deliver, it emphasizes what they deliver. Moreover, top talent is much more movable than conventional talent. As we’ve recently seen on Twitter, it will flee and join the competition when the workplace becomes unpleasant.
According to Art Shaikh, founder, and CEO of CircleIt, “The managerial style it requires to run a tech firm successfully is considerably different from other sorts of firms.” Efficiency is important in every industry, possibly even more so in technology, but there are different ways to achieve it. Growth depends on giving the team space to brainstorm, refuel, and work in a laid-back atmosphere. Sadly, what Musk is doing devalues Twitter as a destination for elite people, which will further hasten the rise of rivals like Mastodon.
Musk’s testing with Twitter’s management style is similar to Ron Johnson’s earlier experimentation with JC Penney’s marketing strategy, which had a disastrous outcome for the venerable retailer. Johnson was a former Apple executive.
Shaikh believes that Musk’s requirement that his workers sign a “loyalty vow” recently is one action that suggests he is attempting to run Twitter differently.
But is he capable of pulling it off? Professor of business law at Case Western Reserve University Anat Alon-Beck, LLM, SJD, disagrees.She told IBT that “Elon Musk recently stated that he is not fit to be a manager—of Twitter or even of Tesla—during his trial.” He claims to be an engineer rather than a manager. It is evident. Tesla and Twitter are quite different animals. Musk originally assisted Tesla in building its reputation. He is now destroying it. Additionally, he is wrecking Twitter, later tweeting a frightening tomb image.
Professor Alon-Beck believes that Musk needs to be a more transformational leader than the pioneer of social media sorely needs right now.
“A social media leader needs to spend time cultivating a strong team of employees by encouraging team building and focusing on meeting quotas daily. Additionally, social media company executives frequently encourage their staff members by establishing goals, instituting rewards, and offering personal and professional development opportunities.
Entrepreneur Elon Musk has gained worldwide recognition as the CEO of the private space enterprise SpaceX and the electric vehicle manufacturer Tesla Inc. (TSLA). Musk co-founded PayPal (PYPL), invested early in several Internet firms, and concluded a deal to take Twitter Inc. private in October 2022.
His accomplishments and distinctive personality have led to comparisons to other colorful business people from American histories, such as Steve Jobs, Howard Hughes, and Henry Ford. As of October 2022, his estimated net worth was $212 billion, making him the richest man in the world.
Elon Musk is an American industrial engineer and entrepreneur of South African descent. He co-founded Paypal and SpaceX, a provider of aerospace transportation services. Additionally, he was an early investment in Tesla, a manufacturer of electric vehicles, and is currently the company’s CEO. Musk holds the seventh position with $70.5 billion in wealth. Who Is Elon Musk
Young years
Elon Musk, born in 1971, showed an early aptitude for computers and video games. At 12, he wrote a video game code that brought him fame and money. He obtained a Canadian passport to avoid at the time aiding African apartheid as well as because the United States offered better economic prospects.
In 2021, Musk became the first to hold the title, surpassing Amazon.com Inc.
Let’s take a quick look at the man who has reached the top of the corporate world.
SpaceX and PayPal
Since graduating from Stanford University in 1997, Musk has founded several profitable businesses. He founded Zip2 as his first startup that year. In 1999, Compaq purchased the company, which offered maps and business directories to online publications. Then he developed X.com, which joined PayPal and went public in 2001. In 2002, eBay acquired the company for $1.5 billion. Musk founded SpaceX in 2002, and since then, the aerospace company has achieved some significant milestones. In the latter part of 2017, SpaceX made history when it successfully relaunched and touched down at the first stage of an orbital rocket. On May 30, 2020, SpaceX made history when it launched NASA astronauts Bob Behnken and Doug Hurley into orbit in its Crew Dragon spacecraft atop a Falcon 9 rocket.
Tesla
As he saw electric cars as the way of the future of transportation, Musk made significant investments in Tesla in 2004. Tesla unveiled the Model S sedan in 2008, two years after releasing the first vehicle, to critical acclaim for its performance and appearance. At age 40 in 2012, the business eventually earned him a billionaire. Tesla CEO Elon Musk became embroiled in several disputes, which caused the company’s stock to plunge dramatically. Musk had difficulties in 2018 after falsely claiming in a tweet that he had funds and was considering taking Tesla private at $420 per share. Musk agreed to resign as Tesla’s board chairman as a result, and Tesla and he both paid a $20 million fine. But despite the controversy, Tesla stock has increased, boosting KEY’s wealth.
TAKEAWAYS
Elon Musk is the likable head honcho at electric car and rocket manufacturer Tesla and aerospace firm SpaceX.Who Is Elon Musk In October 2022, after a lengthy and contentious negotiation, Musk finally closed on a deal to purchase Twitter and assume full control of the influential social media platform.Musk spent his formative years in South Africa, moved to Canada, and eventually settled in the United States.Musk, a physics major at Penn, launched his career as a successful tech entrepreneur by launching companies like Zip2 and X.com, the latter of which he merged with another company to form PayPal.Musk has been known to act strangely on occasion. He claims to be Asperger’s, which is an autism spectrum disorder.
Early Life and Schooling
In 1971, Elon Reeve Musk was born as the eldest of three children in Pretoria, South Africa. His Canadian mom was a model and nutritionist, and his South African dad was an engineer.
Following his parents’ 1980 divorce, Musk spent most of his time with his father. Later, he would describe his father as “a dreadful human being…he has done practically everything evil you can imagine.”
“I grew raised in a bad family. I had a lot of hardship as a child. One concern I have for my children is that they don’t experience enough hardship, Musk would later explain.
Musk, who experienced bullying as a child, subsequently earned his high school diploma from Pretoria Boys High School after enrolling early in the private, English-speaking Waterkloof House Preparatory School. He characterized himself as a bookworm; thus, he only made a few acquaintances there.
“They lured me out of hiding with the help of my best (expletive) friend so they could beat me up. And that hurt, too,” Musk remarked. “They determined that I was it for whatever reason, and they would pursue me endlessly. Because of this, growing up was challenging. There wasn’t a break for many years. At school, I was hounded about by gangs that wanted to beat the (expletive) out of me, and when I got home, it was even worse.
Early Achievements
For Musk, technology turned became a refuge. At age 10, he learned how to program on a Commodore VIC-20, an early and reasonably priced home computer. Musk quickly attained the necessary skill set to produce Blastar, a video game modeled after Space Invaders. For $500, he offered the game’s BASIC code to a P.C. magazine.In one interesting early memory, Musk and his brother wanted to start a video game arcade close to their school. Their parents rejected the scheme.
Musk’s Years in College
Musk immigrated to Canada at age 17. Later, he became a citizen of Canada, thanks to his mother.Musk migrated to Canada and enrolled at Kingston, Ontario’s Queen’s University. There, an ambitious writer named Justine Wilson was introduced to him. Before divorcing in 2008, they would be married and produce five sons—twins and triplets—together.
Getting into the U.S.
Musk transferred to the University of Pennsylvania after spending two years at Queen’s University. He only spent some time studying despite taking on two majors. He acquired a 10-bedroom fraternity house with a classmate, which they converted into a temporary nightclub.
Musk received two degrees from the Wharton School: a bachelor of arts in economics and a bachelor of science in physics. Although Musk’s career was anticipated by his two majors, physics had the greatest impact. He would remark that “physics is a good context for thinking.” “Reduce things to their simplest forms, then argue from there.
Important Achievements
At 24, Musk relocated to California to attend Stanford University to work toward a doctorate in applied physics. However, with the growth of Silicon Valley and the internet, Musk had business ideas dancing in his head. After only two days, he dropped out of the Ph.D. program.
X.com
In 1995, Musk founded Zip2, a web software company that assisted newspapers in creating online city guides, with the assistance of his younger brother Kimball and $15,000 in his bank account. For $341 million, Compaq Computer Corp. purchased Zip2 in 1999. Before the word “fintech” was widely used, Musk founded X.com with the money from the Zip2 purchase.Confinity, a company specializing in money transfers, and X.com merged to form PayPal.Before eBay (EBAY) purchased the payments startup for $1.5 billion, Peter Thiel fired Musk as CEO of PayPal. However, Musk still benefited from the acquisition thanks to his 11.7% ownership share in the company.In a 2018 interview, Musk stated that his PayPal earnings after taxes came to roughly $180 million. One hundred million dollars were invested in SpaceX, seventy million in Tesla, and ten million in SolarCity. I had to borrow money to pay my rent.Musk repurchased the X.com domain name from PayPal in 2017 and cited its sentimental value as his justification.
Tesla
In 2004, Musk joined the team, along with engineer Martin Eberhard, to assist operate what was then known as Tesla Motors as an early investor. Musk ended up investing around $6.3 million in the venture. Eberhard was fired in 2007 after a string of conflicts, and a temporary CEO was hired until Musk took over as CEO and product architect. During his leadership, Tesla has grown to be the most valuable automaker in the world.
Thanks to its acquisition of SolarCity, Tesla continues to have a significant footprint in the solar energy industry in addition to making electric vehicles.
At the moment, the business makes two rechargeable solar batteries. The bigger Powerpack is designed for business or electric utility grid use, while the smaller Powerwall was created for household backup power and off-the-grid use.
Musk founded Space Exploration Technologies Corp., better known as SpaceX, with most of the money he received from his PayPal investment. Musk claims that he invested $100 million towards establishing SpaceX in 2002 Under Musk’s direction, SpaceX won several high-profile contracts to design space launch rockets for the U.S. National Aeronautics and Space Administration (NASA) and the U.S. Air Force. In a joint effort with NASA, Musk has made public ambitions to deploy an astronaut to Mars by 2025.
Musk, a regular commenter on the platform, revealed his 9.2% ownership of Twitter in April 2022. Musk accepted Twitter’s offer to join the board after the company replied by doing so, but he then withdrew his acceptance.Musk then wrote the Twitter board a bear embrace letter offering to buy the company for $54.20 per share.The board of directors of Twitter enacted a “poison pill” clause to prevent Musk from acquiring an even larger share in the company. Still, they ultimately decided to accept his bid after he revealed $46.5 billion in committed financing for the transaction in a securities filing.Musk attempted to call off the agreement in July 2022, claiming that Twitter could not give specific details regarding fraudulent accounts. To compel Musk to execute the transaction, the firm sued him.The billionaire’s bid to purchase the social media site was successful after months of legal battle, and Musk assumed control of Twitter on October 28, 2022.
Own Personal Quirks
On September 7, 2018, Musk smoked marijuana while being interviewed on a podcast on camera. Just one month prior, Musk made the publically notorious assertion in a tweet that he was considering taking Tesla private and had the necessary cash.Following this, Musk paid a $20 million fine and the same penalty for Tesla and agreed to let Tesla’s lawyers approve tweets containing sensitive corporate information before posting them. The SEC claimed that Musk had intentionally misled investors with the tweet.Musk filed a court motion to vacate the consent order resulting from that case in March 2022.During a live TED Talk in April 2022, Musk referred to the SEC officials overseeing the case as “bastards.”Musk disclosed that he had Asperger’s syndrome, an autism spectrum illness, during his appearance on Saturday Night Live on May 8, 2021. “I’m making history tonight as the first host of Saturday Night Live with Asperger’s. The first to acknowledge it, at the very least,” he added. What symptoms does the neurodevelopmental disorder present with? Musk said, “I’m told that makes for fantastic comedy since I don’t usually have a lot of inflection or change in how I speak.
Elon Musk’s spouse
Three times, twice from his second wife Talulah Riley, Elon Musk has been divorced. He dated Canadian singer-songwriter Claire Elise Boucher, better known by her stage name Grimes, from 2018 until 2022. They had a boy in 2020 and a daughter in 2022. They continue to be close.From his first union with Justine Musk, he also had five boys.
How wealthy is Elon Musk is
As of October 2022, Elon Musk was thought to have a net worth of $212 billion, making him the richest person globally.
Elon Musk: was he born rich?
No, Elon Musk was raised in a family of middle-class parents. He reportedly struggled to pay his rent and had more than $100,000 in school loan debt in 1995, the year he established X.com.
Elon Musk’s role at Tesla
The official Tesla website identifies Elon Musk as a co-founder and the company’s CEO. The business disclosed an additional Musk title, “Technoking of Tesla,” in a 2021 securities filing.
What firms is Elon Musk a shareholder in
Tesla, SpaceX, The Boring Co., Neuralink, and Twitter are just a few businesses where Elon Musk has a sizable investment.
Final Words
Musk’s ideological outlook, desire for human advancement, and commercial career are all influenced by his early interests in philosophy, science fiction, and fantasy literature. He works on industries he believes are essential to the future of humanity, such as the move to renewable energy sources, space travel, and the internet. Despite the unavoidable setbacks, Musk has disproved his detractors, upended entire industries, and amassed the highest wealth of any person in history through PayPal, Tesla Motors, SolarCity, and SpaceX—all game changers. Musk has recently taken control of Twitter and pledges to keep influencing the direction of technology.