The Elon Musk Effect
For the world's richest person, Elon Musk, money is not the sole driving force. Walter Isaacson, Musk's biographer, who spent three years trailing him for an upcoming book, reveals that there are numerous eccentricities and motivations behind Musk's actions. In a recent CNBC Squawk Box interview, Isaacson emphasized that money does not top the list for Musk.
Musk's Ventures Reflect His True Passions
Isaacson points out that if Musk were solely interested in making money, he would not have made certain unconventional choices. For instance, he would not have acquired Twitter, sent rockets to Mars, or pursued electric vehicles, which are all endeavors that prioritize innovation and long-term impact over immediate financial gain.
Twitter's Financial Struggles
Despite Twitter's $44 billion acquisition, Musk acknowledged on Saturday that the company still suffers financial losses from declining ad revenues, as per Insider. Isaacson implies that Musk's contrarian nature influences his decision-making on Twitter. Musk revels in impulsive tweeting and the resulting controversies, reminiscent of 'The Gladiator' quote, "Are you not entertained?"
Musk's Management Style
Musk's management approach has both garnered praise and drawn criticism. Isaacson's upcoming biography is expected to delve into Musk's mood swings, described as "abrupt Jekyll-and-Hyde" shifts, and his inclination towards drama, according to publisher Simon & Schuster. Musk's management style, characterized by intense involvement and occasional explosive firings, has been likened to a "demon mode" lacking in empathy, as previously reported by Insider.
Continued Wealth Growth
Despite Twitter's ongoing struggles, Musk's wealth continues to soar. Last month, he reclaimed the title of the world's richest person, with a current net worth of $254 billion, largely due to Tesla's surging share price, as reported by Insider. Musk's aerospace company, SpaceX, also contributes to his growing fortune, with a valuation of nearly $150 billion, making it the most valuable startup in the US, as noted by Insider's Joseph Wilkins.
