Is Elon Musk, CEO of Tesla, serious about quitting from all of his positions?
However, there is a slim probability that Elon Musk will go through with it.
Elon Musk has been running Tesla for years, while also focusing on other projects like SpaceX, the Boring Company, and Neuralink. Musk tweeted on December 10th, 2021 that he is considering quitting all of his jobs to focus only on being an influencer. Even though that sounds like a lot of fun on his part, will the 50 year old be willing to give up all of his jobs for the role of an influencer?
Since Tesla has been through so many pivot points, there is a risk that the company might go either way. However, Elon Musk’s stated aspirations for other companies are still a long way off. The goal of SpaceX is to send people to Mars and establish a city there. Just recently, Musk claimed that he is certain that human engagement in Neuralink would begin by 2022. It’s no wonder that Musk’s to-do list keeps growing, given his previous endeavors.
Musk’s Twitter following suggests that becoming an influencer isn’t a bad idea. However, based on the subsequent responses, it doesn’t appear to be the case. Asked about the possibility of creating an Onlyfans account, Musk responded by mentioning that he was considering doing the same for himself. Ultimately, it was clear that Musk would not be resigning from all of his positions.
Selling a tenth of the company’s stock
When Musk tweeted earlier this year that he was unsure if he should sell 10% of his ownership in reference to billionaires paying taxes, it sparked some initial confusion. As a result of the survey, which indicated that the majority wanted him to sell, he really sold $4.5 million worth of shares. Approximately 3 percent of his overall holdings, which Forbes estimates at $281.6 billion.
It’s possible that Musk didn’t sell the stock solely on the basis of a Twitter poll. He posted about resigning all his employment, which may have sparked the speculation of many that he would do the same again. It’s not unusual for the multi-billionaire to engage in spirited conversation on Twitter. In 2018, the SEC fined Tesla CEO Elon Musk $20 million for tweets he made in the year prior.
Moses & Singer law firm partner Howard Fischer backed Musk, saying that the tweets Musk posts are imprecise and he doubts that Musk has broken any laws. According to him, “I think that Musk’s social media statements are subject to a large markdown,” as opposed to other CEOs, by the market.
