Many legacy empires are handed to the children down the line. But Elon Musk doesn’t wish to follow suit. The billionaire, who has nine children, has no plans of handing over his business interests to them. He already has a successor in mind if he decides to step down.
Since his Twitter takeover, investors have questioned his ability to run the microblogging platform. There have also been questions if the tech billionaire is spreading himself thin and could benefit from an equally capable second in command. This led to the hiring of Linda Yaccarino, the new Twitter CEO.
Elon Musk Isn’t Looking To Distribute His Legacy Between His Children
Elon Musk doesn’t want any of his children to step-in in case of his absence. He is opposed to executives passing on their legacy and voting interests to their children. Musk believes such a power transfer is unfair and might be catastrophic if the future generation doesn’t possess a shrewd business sense.
Talking to The Wall Street Journal, Elon Musk further explained his views about succession problems, “I am definitely not of the school of automatically giving my kids some share of the companies, even if they have no interest or inclination or ability to manage the company. I think that’s a mistake.” So that settles it, we won’t see X AE A-XII as the future Tesla boss.
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Elon Musk Has A Successor In Mind
Elon Musk is already thinking ahead. The Tesla CEO and technology officer at Twitter has already passed on his recommendation of a successor to his board of directors. He has also been “wrestling with the fact” about how his successor would deal with his shares in the company.
Several news agencies have predicted who will come after the tech billionaire’s departure. Some believe it to be Tesla’s CFO, Zach Kirkhorn, while others believe Tom Zhu of Tesla might be the right man for the job. However, Musk recently announced he wouldn’t be stepping down from the role of Tesla’s CEO. He hired Linda Yaccarino as the new Twitter CEO, leaving him more time to lead Tesla operations.
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