On November 4, 2022, in New York, Elon Musk shows up at the Baron Investment Conference at the Metropolitan Opera House. Monday, November 14, 2022, a Delaware courtroom was crowded with lawyers.
Elon Musk worked through the night and slept at Tesla Inc.’s facilities in California and Nevada in 2018, as the business fought to increase Model 3 production.
Elon Musk CEO of Tesla 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 role 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.
“Tesla investors are going to be frustrated,” said Gene Munster, managing partner at venture capital firm Loup Ventures. “He’s probably going to spend more time on Twitter than any Tesla investors feel comfortable about.”
He tweeted on Monday “I have Tesla, Inc. covered too,” saying he planned to work at the electric vehicle maker for part of this week. Tesla has an office in Palo Alto, California, and a factory in Fremont, California.
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.
Since he revealed he had purchased a position in Twitter in early April, shares of Tesla had fallen over 50%. The pressure has increased as a result of sales of Musk’s own Tesla shares, which have already reached $20 billion since he revealed his Twitter ownership.
Tesla faces a growing list of challenges from demand concerns in China to a regulatory probe of the claims it makes about the abilities of its “Autopilot” driver assistance technology companies in the United States.
According to 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.
From November 1 to November 15, only 3% of his tweets mentioned Tesla, a significant decrease from the average of over 16% during the preceding eight months.
Munster predicted that Twitter would dominate Musk’s attention for the ensuing six to twelve months, adding that Tesla was a more mature organization than in the past and less dependent on Musk in the short term.
