Zinger Key Points
- Musk is now the owner and CEO of Twitter after a $44 billion acquisition.
- Here's how the acquisition impacted Musk's life and what's in store next.
Prior to the acquisition of social media platform Twitter, Elon Musk had his hands full. Musk is the CEO of Tesla Inc TSLA and SpaceX and is also involved with several other companies he co-founded like Neuralink and The Boring Company.
Here’s what Musk recently said about his new workload after the Twitter acquisition.
What Happened: Musk completed a $44 billion acquisition of Twitter in October 2022 and made himself the acting Chief Executive Officer.
Speaking at the Ron Baron Conference in November of last year, Musk shared that the acquisition has had a big impact on his workload.
“My workload went up from about 70 to 80 hours a week to probably 120,” Musk said.
Musk noted that his daily routine now consists of work and sleep.
“Go to sleep, I wake up, work, go to sleep, work, do that 7 days a week.”
Musk said he has no choice but to do this for a while until things get under control at Twitter.
“Once Twitter is set on the right path, I think it is a much easier thing to manage than SpaceX or Tesla.”
Musk said he really understands the internet and how to make it work.
Here’s what Musk has in store for the social media platform.
Related Link: Elon Musk's Reasons For Buying Twitter: 'I Didn't Do It To Make Money. I Did It To Try To Help Humanity
'What’s Next: Musk previously was a co-founder of online bank X.com, which eventually became PayPal Holdings PYPL.
“I know how to make a way better PayPal,” Musk said.
Musk said there’s a 22-year-old plan from the X.com and PayPal days that is going to be executed and surprisingly enough has not been done before.
“That’s part of why I think Twitter will be ultimately extremely valuable.”
Musk said he’s taking steps to make Twitter a positive place to be, otherwise, people will leave the platform.
“How do we get 80% of America, 80% of the public to join a digital town square?” Musk asked.
Musk said he’s confident that the platform can satisfy 80% of the world with its renewed efforts, something he said he would count as a great outcome for Twitter.
Originally published on Nov. 5, 2022.
Read Next: Why This Legendary Tesla Investor Plans To hold EV Stock For At Least 8 More Years
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
