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Elon Musk says his days are ‘long and complicated’ splitting time between SpaceX, Tesla and Twitter

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Elon Musk, CEO of Tesla, speaks with CNBC on Could sixteenth, 2023.
David A. Grogan | CNBC

Elon Musk added to his work portfolio late final yr, when he acquired Twitter for $44 billion and appointed himself CEO. Whereas he lately introduced a successor for that position, the job is at present nonetheless his, and he stays the CEO of Tesla and SpaceX.

He talked about attempting to handle his schedule in an interview on Tuesday on the The Wall Avenue Journal’s CEO Council Summit.

“My days are very lengthy and complex as you may think,” Musk mentioned. “And there is quite a lot of context switching,” he mentioned, emphasizing that “switching context is is kind of painful.”

Musk mentioned he typically tries to divide his schedule “so it is predominantly one firm on at some point.”

However that is not all the time potential. This Tuesday was “a Tesla day,” he mentioned, however he “may find yourself at Twitter late tonight, after which tomorrow can be partly a Tesla day as nicely, half Twitter after which Thursday can be kind of a half-SpaceX, half-Tesla day.”

He described his jobs as “considerably intertwined,” and mentioned “the time administration is extraordinarily troublesome.”

The complexity hasn’t been good for his investments. Tesla shares misplaced greater than half their worth within the two months after the Twitter deal closed final yr, on concern that Musk would have much less time to give attention to the electrical automotive maker even because the market was getting extra aggressive. In the meantime, advertisers fled or briefly suspended their campaigns on Twitter, and in March Musk marked down the worth of the corporate to $20 billion. Musk mentioned on Tuesday that many advertisers are coming again.

Whereas different executives might outsource their calendar to a chief of workers or government assistant, Musk mentioned he does most of his scheduling on his personal. He mentioned he has “one part-time assistant” to assist him handle his work schedule, a undeniable fact that was corroborated by a former Tesla worker.

“It is unattainable for another person to know what the priorities are,” Musk mentioned, including that he’s normally working most hours of the day, wrapping up at 2 a.m., his typical bedtime.

At Twitter, Musk now plans to shift into the position of government chairman and expertise chief, with former NBC advert government Linda Yaccarino slated to change into CEO.

Nonetheless, Twitter is primarily a expertise firm, so his ongoing job as CTO will seemingly be demanding.

Thorold Barker, The Wall Avenue Journal’s editor for Europe, Center East and Africa, requested Musk if he has a succession plan in place at his companies.

“Succession is likely one of the hardest, age-old issues,” Musk mentioned. “It is plagued international locations, kings, prime ministers and presidents, and CEOs because the daybreak of historical past.”

Musk mentioned he is instructed his boards, “in all instances,” who’s his option to take over in a “worst-case situation.” He emphasised the businesses’ boards may additionally go in one other route so far as who ought to step into his footwear.

At Tesla, there’s been hypothesis that finance chief Zachary Kirkhorn is amongst candidates who Musk would endorse as a successor.

As CNBC beforehand reported, Musk’s firms regularly have interaction in associated celebration transactions, and he is confronted political strain to extra cleanly separate them.

After Musk took over Twitter, for instance, he licensed dozens of staff from Tesla, SpaceX and the Boring Co. to assist him on the social media enterprise. The “transition workforce” he established at Twitter was concerned in every thing from code assessment to personnel and facilities-related selections.

Musk was additionally a co-founding director and donor to OpenAI, a former non-profit that is now backed by Microsoft. Monetary filings from 2017 for OpenAI reveal that Musk donated round $250,000 value of Tesla automobiles as a part of his thousands and thousands of {dollars} value of donations to OpenAI again in its earlier days.

Of late, Musk has been brazenly attacking OpenAI’s company construction and the quantity of possession it is offered to Microsoft. On Tuesday, Musk talked some about X.ai, a competitor he desires to develop with the intention to problem OpenAI, and Google’s DeepMind.

“I do not need to soar the gun right here on bulletins,” Musk mentioned. “However OpenAI has a relationship with Microsoft that appears to work pretty nicely, and it is potential that X.ai and Twitter and Tesla would have one thing comparable.”

WATCH: Elon Musk in utilizing generative AI in advertising and marketing

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