Elon Musk has recently gained a lot of media attention for all the wrong reasons. He is the founder, CEO, and chief engineer of SpaceX, angel investor, CEO, and product architect of Tesla, Inc., owner, and CEO of Twitter, Inc., founder of The Boring Company, co-founder of Neuralink and OpenAI, and president of the philanthropic Musk Foundation.
The fifty-one-year-old faces even more controversy after tipping off the feds to the former Twitter CEO Parag Agrawal. Are the allegations true?
Bye bye birdy?
Elon Musk has not had an easy ride as the CEO of Twitter over the last two months. He recently posted a poll asking Twitter users whether or not he should step down. With a resounding “yes”, it’s clear to see that Musk’s takeover isn’t enjoyed by everyone. After the poll results came in at 57.5% voting “yes”, Musk tweeted, “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.”
As reported in Forbes, “Elon Musk started his bid for control of Twitter earlier this year. The process began when he purchased 9.2% of the company’s stock, which made him the company’s largest shareholder.” He made an offer of $44 billion, but the deal wasn’t smooth sailing.
“Twitter’s top executives were fired within days. He also laid off approximately half of the company’s staff and began changing content moderation policies.” It’s easy to see why his initial takeover didn’t go over well. In a recent case with a Tesla shareholder, Musk stated, “I expect to reduce my time at Twitter and find somebody else to run Twitter over time.” Clearly, his time at Twitter is temporary, but he won’t go quietly.
Money, money, money
Elon Musk is widely known as one of the most wealthy men in the world. His net worth is reported by Forbes to stand at $146.5 billion. The billionaire is the father to ten children and clearly is able to afford the support cheques thanks to his many successful businesses.
Even though over $140 billion sounds really impressive, it’s actually reported that this estimated net worth is a two-year low for the Twitter CEO. Falling Tesla shares have put Musk’s fortune at its lowest level since December 2020. Musk’s wealth peaked at $340 billion last year. LVMH CEO Bernard Arnault has now taken his place as the world’s richest person.
As reported at Insider, “Musk’s wealth is largely dependent on Tesla shares. Though he takes no salary from Tesla, he’s awarded stock options when the company hits challenging performance metrics.”
“Prior to his announcement, some Tesla shareholders had expressed concerns about how much time Musk is spending at Twitter, including KoGuan Leo, Tesla’s third-largest individual shareholder, who called for Musk to stand down from his role at the EV maker. “Elon abandoned Tesla and Tesla has no working CEO,” Leo tweeted.”
Clash of the CEOs
Allegedly, the former CEO of Twitter Parag Agrawal has been arrested for possession of child pornography following a tip from the new Twitter CEO Elon Musk. Agrawal is pleading not guilty and his lawyer expects he’ll be released on bail.
Vancouver Times stated, “The executive not only collected child abuse material off of Twitter and other social media platforms, he turned a blind eye to users that shared the same material on the social media platform.”
However, the news has recently been debunked and the “fake news” has officially simmered down. Agrawal hasn’t been arrested and Elon Musk didn’t report any misdoings that the former Twitter CEO committed . . . yet.