Despite being the world’s richest person, Elon Musk is far from retired. After acquiring social media platform Twitter for $44 billion, Musk is now the CEO of three companies. Here’s the latest on how he's coordinating his various jobs.
What Happened: Musk recently completed the $44 billion acquisition of Twitter, and has acknowledged that the purchase had a big impact on his working hours.
“My workload went up from about 70 to 80 hours a week to probably 120,” he 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.”
He said that once Twitter was on the right path, it would be easier to manage than SpaceX and Tesla TSLA. Until then, Musk said he has no choice but to work long hours for the newly acquired social media company.
With most workers putting in 30 to 50 hours at one job, Musk putting in 70 to 120 hours a week might seem extreme and hard to imagine. Although he's always been known as a workaholic and past profiles have highlighted him sleeping on the floor at Tesla factories.
Musk provided a recent update about his working hours between Twitter, Tesla and SpaceX.
He said he's working “at the absolute most amount…from morning til night, seven days a week,” as reported by Reuters.
“I have too much work on my plate, that is for sure,” Musk said.
Musk also suggested that while other business leaders want to be him, they might not love the workload it that comes with.
“I’d be careful what you wish for. I’m not sure how many people would actually like to be me. They would like to be what they imagine being me, which is not the same thing as actually being me. The amount that I torture myself is next level, frankly.”
Musk suggested recently that he is sleeping at Twitter’s headquarters until the social media company is fixed. The Tesla CEO reassured investors that he has “Tesla covered too.”
Related Link: Tesla Q3 Earnings Highlights: Record Revenue, Operating Margins And Free Cash Flow
Why It’s Important: Musk is now the CEO of three companies and also has commitments to Neuralink and The Boring Company, two companies he also founded.
The extra demands on his time could stretch Musk too thin with his priorities at electric vehicle leader Tesla.
While Tesla investors and fans mostly have full faith in Musk, some have started to question the number of hours committed outside of Tesla and the overhang on the company's shares until his intense focus on reorganizing Twitter is in the rearview mirror.
Musk has been known for overseeing many details of the businesses he runs. Without him having full focus on each company, there could be increasing concerns that the companies could underperform going forward.
TSLA Price Action: Tesla shares traded at $197.87 on Tuesday. Tesla shares are down 15.4% since the Twitter acquisition was finalized on Oct. 27. Tesla shares are also down 41.4% and 23.2% respectively from the April 14 and Oct. 4 acquisition offers Musk made for the social media company.
Read Next: Why This Legendary Tesla Investor Plans To Hold EV Stock For At Least 8 More Years
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