Can You Work 120 Hours Per Week Straight For 2 Years – Elon Musk was at home in Los Angeles and struggling to maintain his composure. “The last year has been the most difficult and painful year of my career,” he said. He was very emotional. “
The year has been even busier for Musk, chairman and CEO of electric car maker Tesla, as last week he suddenly announced on Twitter that he hoped to take the publicly traded company private. The move created a stir in the market and within Tesla, and on Thursday he admitted he was scared.
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In an hour-long interview with the New York Times, he said several times that he almost missed his brother’s wedding this summer and spent his birthday in Tesla’s office while the company was racing to achieve the production objectives of a new model.
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Asked whether tiredness was affecting his physical health, Mr Musk replied: “It’s really not good. I have friends who are really worried.”
The incidents stemming from Musk’s tweets have prompted a federal investigation and angered some board members. Efforts are underway to find a No. 1 executive. 2 could help take some pressure off Musk, people briefed on the research said. And some board members expressed concern not only about Musk’s workload but also his Ambien use.
For two decades, Musk has been one of Silicon Valley’s brashest and most ambitious entrepreneurs, helping to found many influential technology companies. He often wore the spotlight with bravado, shrugging off critics and the attention that came with his success and fortune. But in interviews he showed an unusual level of self-reflection and vulnerability, admitting that his myriad executive responsibilities were taking a toll on his personal self.
The Rise and Fall of Elon Musk: PayPal, SpaceX, Tesla Serial entrepreneur Elon Musk wants to fundamentally change the way we live. But the road to success is marked by both great success and a flirtation with failure
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“I thought about what issues might have the greatest impact on the future of the world or the future of humanity.” South African engineer, inventor and billionaire Elon Musk is one of the world’s leading entrepreneurs. But the 47-year-old man is no stranger to unrest, and for his part, his career has been full of ups and downs. “Three years ago, I showered at the Y and slept on the office floor. And now I have a million dollar car and lots of pet amenities. After making his fortune with his first successful startup, Zip2, Musk rose to fame as a co-founder of PayPal in the late 1990s. «So it’s an ATM. What we will do is change the traditional banking sector. The company lost hundreds of millions of dollars and Musk was fired as CEO due to internal unrest. But when PayPal went public in 2002 and was later sold to eBay, Musk, as the largest shareholder, walked away with $200 million. In the mid-2000s, Musk changed direction and invested his entire PayPal fortune in his new companies: SpaceX, Tesla, and SolarCity. With SpaceX, Musk’s ambitions are out of this world: It’s literally a commercial spaceflight company that designs and launches advanced rockets into space. Behind me is where the Falcon 9 will sit during launch. “One of his ambitions is to eventually send people to Mars.” I can’t think of anything more exciting than going up there and being among the stars. But he faced some obstacles. Their first three rockets failed, burning nearly all of the company’s assets. But SpaceX has been a recent success The launch of the Falcon Heavy earlier this year was a major milestone and carried a fun payload: an astronaut riding a domino in a Tesla car orbiting space. The company also has a contract with NASA, but questions have been raised about safety and costs. “We sold more than 1,000 cars – and by sold I mean people put huge deposits on the car.” Tesla, Musk’s electric car company, is the first of its kind to operate at scale. Successfully disrupted the auto industry The company is valued at over $50 billion The Tesla Model S has been called the greatest car ever built But Tesla has had problems with car batteries, including fires, recalls and delays in manufacturing SolarCity, Musk’s renewable energy venture, initially had a bright future. It is the largest provider of rooftop solar systems in the United States, and the company has risen to prominence on Wall Street. But after investors raised doubts about its business model, SolarCity’s shares quickly lost value and Tesla had to accept what was seen as a bailout. “As cool as electric cars have become, we really need to make solar panels.” But while Musk has flirted with failure and disaster for years, his projects continue to capture the public imagination. “Life must be about more than solving problems. There must be something that makes you proud to be a member of humanity.”
Serial entrepreneur Elon Musk wants to radically change the way we live But his road to success has been marked by both great successes and flirtations with failure Credit Credit… Todd Anderson for The New York Times
In the interview, Musk provided a detailed timeline of events leading up to an Aug. 7 Twitter post in which he said he was considering buying the company for $420 a share. He said he had “guaranteed money” for such a deal: the deal would be worth more than $10 billion.
That morning, Mr. Musk woke up at home with his girlfriend, a musician known as Grimes, and did a quick workout. He then got into a Tesla Model S and headed to the airport. Along the way, Mr. Musk typed his fateful message
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Musk said he viewed the tweet as an attempt at transparency. On Thursday he acknowledged that no one had seen or reviewed it before publishing it.
Tesla shares soar Investors, analysts and journalists were surprised by the tweet – published in the middle of the day’s official market, an unusual time for breaking news – including the price indicated by Musk. In the interview he said that he would like to pay a premium of about 20% over the price where the stock has recently been trading, which would have been around $419. He decided to round up to $420, a figure that became code for marijuana in the counterculture.
“It seemed like a good deal at $420 versus $419,” he said in the interview. “But I wasn’t under weed to be clear. Not conducive to weed production The word “stone” has a reason. You are just sitting like a stone in the weeds. “
Mr. Musk arrived at the airport and boarded a private plane for Nevada, where he spent the day touring Tesla’s battery factory, known as the Gigafactory, meeting with managers and working on an assembly line. That evening he flew to the San Francisco Bay area, where he had late-night Tesla meetings.
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Last week Musk announced on Twitter that he hopes to turn the publicly traded company into a private company. Tesla shares subsequently rose. Credit…David Paul Morris/Bloomberg
What Musk meant by “safe money” became an important question. These two words helped drive Tesla shares higher
Musk said he was referring to a potential investment by Saudi Arabia’s sovereign wealth fund. Musk has had detailed talks with representatives of the $250 billion fund about financing a deal to take Tesla private, perhaps in a way that includes a majority stake in the Saudi company. One such session took place July 31 at a Tesla factory in the Bay Area, according to people familiar with the meeting. But the Saudi fund has not committed to providing money, two people briefed on the talks said.
Another possibility being considered is for SpaceX to help finance the privatization of Musk’s rocket company, Tesla, and take an ownership stake in the automaker.
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Tesla shares rose 7% after Twitter closed trading on the Nasdaq stock market, 1 hour and 20 minutes after Tesla sent a letter to Musk’s employees claiming he had taken the company private. When shares resumed trading, they continued their climb, ending the day up 11%.
The next day, investigators from the Securities and Exchange Commission’s San Francisco office asked Tesla for an explanation. Generally, such material information about a public company’s plans is kept detailed after thorough internal preparation and provided through official channels. Council member, blind