Elon Musk faces major challenges at Tesla and SpaceX. Now Twitter’s lawsuit looms large 📝: nik_popli
t’s been a difficult summer for Elon Musk. Facing a lawsuit filed by Twitter, factory shutdowns for Tesla, and backlash from SpaceX employees, the world’s richest person has his hands full—and more setbacks could be coming.
Each of these problems on their own would be enough to overwhelm the most skilled Fortune 500 CEO running just one company, but Musk oversees the day-to-day management of at least four organizations. And that was before he proposed to buy Twitter. His demanding summer highlights what happens when leaders add too much to an already onerous schedule, management consultants tell TIME.
The Tesla and SpaceX CEO has tried to be an exception. Earlier this year, he offered to buy every Twitter share he doesn’t already own in a deal worth roughly $44 billion. Musk vowed to oversee a number of important technical and operational changes at Twitter once the acquisition was completed, but he recently pulled out of the deal citing the prevalence of spam or fake accounts on the platform.
Wall Street analysts like Ives fear that if Musk loses the legal battle, he might have to sell Tesla stock in order to pay Twitter, which would likely pull the company’s stock price down. That carries risk for Tesla investors, and would be a significant blow for the world’s most valuable carmaker.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter and Elon Musk set for October showdown trial as it tries to force tycoon to complete $44bn takeover dealThe world's richest man said he was pulling out of a deal this month to buy the social media giant for $44bn (£36.6bn), but the company is suing him to try to force him to carry out his earlier promise in April to acquire it.
Read more »
Twitter-Musk takeover dispute heading for October trialTwitter hopes that the trial will end with a court order for Musk to complete a $44bn takeover bid.
Read more »
Twitter-Musk Takeover Dispute Heading For an October TrialElon Musk lost a fight to delay Twitter’s lawsuit against him as a judge cited a “cloud of uncertainty” over the social media company.
Read more »
Judge says Twitter-Musk trial will kick off in OctoberCutting Elon story short
Read more »
Twitter accuses Musk of 'sabotage' and gets the early trial it wantedThe court could in theory force Musk to complete the deal, though what seems most likely is a fat settlement.
Read more »