New Delhi: Elon Musk, the CEO of Twitter, opposes the idea of giving money to kids who don’t deserve it. Musk contends that executives shouldn’t give their shares to their kids if they don’t have the desire or interest to run the businesses. Instead of just handing shares to kids who might not have a strong interest in the business, he thinks it is preferable to hand over the reins to deserving people within the organisation.
Musk may have erred in the past, but his philosophy of delegating authority to skilled people rather than to successors makes a lot of sense. (Also Read: 9 Most Popular Mobile Phones Of All Time)
The billionaire recently revealed that he has already chosen people who would be able to take over his firms if he were unable to do it himself in an interview at The Wall Street Journal’s CEO Council. He is certain that bosses should not, however, simply transfer their enterprises or voting stock to their offspring.
“I am definitely not of the school of automatically giving my kids some share of the companies, even if they have no interest, inclination, or ability to manage the company,” Musk stated. I believe that was a mistake.
The oldest of Musk’s nine children is 19 years old, according to public records. His 3-year-old son, X AE A-XII, is usually accompanied by him to different events, and he even gave him a unique Twitter badge.
Musk does not, however, get along with all kids. In fact, because she no longer wants to be linked with her father, his oldest daughter asked to change her name. The daughter declares herself to be transsexual. According to the 18-year-old, she no longer desired to be “related to my biological father in any way, shape, or form.”