Being the CEO of three companies can divide focus, time and energy and often lead to an unfair split. One of the world’s richest people is tasked with the difficult decision of how to split his time and which company deserves the majority of his focus.
What Happened: In 2022, Elon Musk made headlines for acquiring social media platform Twitter for $44 billion.
Musk is now the CEO of Twitter, which along with being the CEO of Tesla Inc TSLA and SpaceX, has increased his hours of work each week and also impacted his sleep schedule.
Since taking over Twitter, Musk has put forth many changes and focused his attention on the social media platform.
Not to be outdone, Musk has also reassured Tesla investors and fans that he remains attentive to Tesla as the EV maker works on rolling out the Tesla Semi and the highly anticipated Cybertruck in 2023.
The third company, space giant SpaceX, is seeing less of Musk, according to a report from Bloomberg.
SpaceX, which could have as many as 100 space flights in 2023, is doing quite well without Musk, according to the report.
The space company was recently valued at $140 billion and is seeing President and Chief Operating Officer Gwynne Shotwell lead the charge in Musk’s absence.
One of the biggest events for SpaceX in 2023 is the launch of Starship, a launch vehicle that could someday go to the moon and Mars.
Employees interviewed by Bloomberg said SpaceX is doing just fine without Musk on a day-to-day basis, and that the CEO of the company is more important for the long-term vision and goal of getting to Mars.
Some employees said that not having Musk around could actually have a positive impact, as he often demanded changes and cost extra time for projects and operations due to his own thoughts and opinions. A sense of calm in the work environment was described by employees.
Former employees interviewed also referenced mandatory meetings and hiring freezes at the company when Musk was more involved.
A report from a Musk jet tracker said the CEO has not been near Starbase, the Texas SpaceX facility, since October.
Related Link: Don't Try To Be A Leader For The Sake Of Being A Leader, Career Advice From Elon Musk
Why It’s Important: The report calls into question safety practices and launch reliance with new leaders emerging at SpaceX, with Musk not operating the business on a day-to-day basis.
Musk tweeted in December that he was still running Tesla and SpaceX after acquiring Twitter when asked by a user about the lack of public concern about Musk's lack of attention to SpaceX as compared to Tesla.
“I continue to oversee both Tesla & SpaceX, but the teams there are so good that often little is needed from me,” Musk tweeted.
Musk previously said that he was working seven days a week and 120 hours since acquiring Twitter.
“Once Twitter is set on the right path, I think it is a much easier thing to manage than SpaceX or Tesla.”
SpaceX seems to be operating just fine without Musk, and 2023 could be a big year for the space company.
Twitter will continue to see changes and Musk leading the charge, a move that was expected with the acquisition.
As a public company, Tesla will get the headlines and also see shareholders, analysts and supporters calling for Musk to be more involved and spend more of his time working on the electric vehicle company.
Calls will likely continue in 2023 for Musk to name a new CEO for Twitter and to line up a succession plan for Tesla. SpaceX on the other hand seems to be doing just fine quietly in the shadows.
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Photo: Created with an image from Dan G on flickr.
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