Elon Musk’s special attention to Twitter leaves Tesla investors ‘frustrated’


Spread the love

Elon Musk’s special attention on Twitter has raised concerns for Tesla investors, a news report has claimed. Mr Musk who recently took over as the chief of the social media platform Twitter has been reportedly putting his heart and soul to revamp the social media networking site.On Monday, Mr Musk said he had worked through the night at Twitter’s San Francisco headquarters and would keep “working & sleeping here” until the social media platform – which he recently acquired for £37billion ($44billion) – was fixed.In 2018, Elon Musk was working through the night and sleeping at Tesla Inc’s (TSLA.O) factories in California and Nevada as the company struggled to ramp up production of the Model 3.A self-described “nanomanager,” Mr Musk’s penchant for working long hours in moments of crisis has been a well-known part of his brand.Reuters reported that the billionaire’s deep dive into Twitter, after a protracted buyout that he tried to scrap, has some Tesla investors worried about his capacity to focus on his role as CEO of the world’s most valuable carmaker.Gene Munster, managing partner at venture capital firm Loup Ventures told the news agency: “Tesla investors are going to be frustrated.“He’s probably going to spend more time on Twitter than any Tesla investor feels comfortable about.”Mr Musk, however, did not respond to a Reuters email seeking comment.He tweeted on Monday: “I have Tesla covered too,” saying he planned to work at the electric vehicle maker for part of this week.READ MORE: Just Stop Oil protester in car video slated as ‘extremist hypocrite’Tesla has an office in Palo Alto, California, and a factory in Fremont, California.Tesla’s shares have dropped by 50 percent since early April, when he disclosed he had taken a stake in Twitter. Sales of Musk’s own Tesla shares – totaling $20billion since he disclosed his Twitter stake – have added to the pressure.The company faces a growing list of challenges from demand concerns in China to a regulatory probe of the claims it makes about the abilities of its “Autopilot” driver assistance technology in the United States.According to Reuters, so far this month, Mr Musk’s tweets about his efforts to reboot Twitter have accounted for more than two-thirds of his postings on the platform he acquired in October, according to a Reuters tally.DON’T MISS:Mike Tindall recalls funny encounter with Princess Anne  [INSIGHT]Germany could be ‘wiped off’ the map over Russian ‘existential threats [REVEAL]Poland set to ‘trigger NATO article 4’ [BREAKING]Tesla accounted for just three percent of his tweets from November 1 to November 15, down from an average of almost 16 percent over the previous eight months.Mr Munster said he expects Twitter to consume Mr Musk’s attention for the next six to 12 months, adding that Tesla was a more developed company than in earlier days and less immediately reliant on Mr Musk.In recent days, Mr Musk has said his workload has increased significantly after his Twitter buy.


Like it? Share with your friends!