Since Musk announced his bid to buy the social network, shares in his electric vehicle maker have dipped by more than 30%, and closed down just 3.6% for the day on Friday. The stock market is down by 18% over the same period.
On April 25, 2022, Musk said he had agreed to buy the social network. His first full week of ownership was capped by the shares closing at $207.47 today.
At the 29th annual Baron Investment Conference on Friday, Musk was asked by Ron Baron, who is bullish on Musk's businesses, about juggling new responsibilities.
In addition to running a re-usable rocket maker and satellite internet company (SpaceX), and a multinational electric vehicle and sustainable energy company (Tesla), as well as funding and founding a brain- chip company (Neuralink) and tunneling business, Musk now calls himself " Musk now calls He is the sole director of the company.
Musk told Baron, "My workload went up from about, I don't know 78 hours a week to probably 120, I think it is a much easier thing to manage than the other companies."
He has told his followers that his position as sole director and CEO of the social network is temporary.
GM and AUDI stopped advertising on the social network due to Musk's ownership. It is not known how it will affect the company.
Musk uses all of his companies, their products and his own self- image for free, because he uses it to promote his own self- image, as well as to spread information to shareholders. He encourages fans to join him in attacking perceived enemies, such as elected officials, regulators, reporters, and automotive safety advocates who are seen as too critical of Musk's company.
More than 50 of Musk's employees, mostly autopilot and other software engineers, have been authorized to work for him. He hasn't explained howTesla employees' schedules will be split or how their responsibilities will be paid for.
Musk said at the investor conference that the electric car would be less expensive than the Model 3. He wants to be able to make 40,000 cars a day.
Given how many batteries this level of production would require, and all the metals and other materials that are required to build them, it seems more and more likely thatTesla will need to be directly involved in mining.
Some news outlets had previously reported thatTesla was considering an investment in Glencore. Musk said that they have never contemplated investing in Glencore and that they are doing it themselves.
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