Musk’s all-nighters at Twitter ‘frustrating’ Tesla investors

World
0
(0)

Elon Musk worked through the night and slept at Tesla Inc.’s facilities in California and Nevada in 2018, as the business struggled to boost Model 3 production. 

Musk declared on Monday that he had spent the entire night working at the San Francisco headquarters of Twitter and that he would continue “working & sleeping here” until the social media platform, which he recently paid $44 billion for, was fixed. 

Being a self-described “nanomanager,” Musk’s propensity for staying up late to solve problems is well-known. Some Tesla investors are concerned about the billionaire’s ability to concentrate on his work as CEO of the most valuable automaker in the world as a result of his deep dive into Twitter, which came after a drawn-out buyout that he attempted to scrap.

The managing partner of venture capital company Loup Ventures, Gene Munster, predicted that Tesla investors would be dissatisfied. “He’s probably going to spend more time on Twitter than any Tesla investor feels comfortable about,” one Tesla investor said. 

Musk did not respond to a request for comment from Reuters through email. Musk is scheduled to appear in court on Wednesday regarding the justification of Tesla’s $56 billion pay deal. 

He said in a tweet on Monday that he had Tesla covered and that he will be working there for a portion of this week. Tesla has a plant in Fremont, California, and an office in Palo Alto, California.

Also Read: Two die in explosion in Poland near Ukraine border, no confirmation on use of Russian missiles

Since he revealed he had acquired a Twitter stake in early April, shares of Tesla had fallen nearly 50 per cent. The pressure has increased as a result of sales of Musk’s own Tesla shares, which have already reached $20 billion since he announced his Twitter investment. 

Tesla is facing an increasing number of difficulties, including issues with demand in China and a regulatory investigation into the promises it makes about the capabilities of its “Autopilot” driver assistance system in the US. 

As per a Reuters calculation, Musk has posted on the platform he bought in October more than two-thirds of the time this month in tweets about his efforts to revive Twitter.

(with inputs from agencies)

How useful was this post?

Click on a star to rate it!

Leave a Reply

Your email address will not be published. Required fields are marked *