“They Can Make Their Own”: Reactions As Elon Musk Says His 10 Children Won’t Control, Inherit His Companies
- Elon Musk has made it clear he will not be handing control of his multi-billion dollar companies over to his children
- Musk said he has already identified and selected particular people to take over if something happened to him
- The United State billionaire step down as the CEO of Twitter and will now take on a supervisory role
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The world's richest man, Elon Musk, has revealed that he plans to allow his children to fend for themselves rather than give them riches without effort.
The Tesla owner said he is not in the school of thought of leaving everything to his kids and would not automatically hand them share to his companies.
Source: UGC
Elon Musk has plans
According to IOL, SpaceX and Tesla help Musk rake in a network of $188 billion, but his children will not simply inherit all.
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Instead of handing the reigns of his company over to his children, the South African-born business magnate has already made plans.
He said:
"I am definitely not of the school of automatically giving my kids some shares of the companies, even if they have no interest or inclination or ability to manage the company. I think that's a mistake"
Ndtv reports that Musk has already identified particular people to take over control of the companies, and the board is aware of his recommendation.
Musk his quoted has saying:
"Succession" is one of the "toughest age-old problems. It's plagued countries, kings and CEOs since the dawn of history.
"There is no obvious solution. I mean there are particular individuals identified as, that I've told the board, look, if something happens to me unexpectedly, this is my recommendation for taking over."
Legit.ng recently reported that Musk had left his role as CEO of Twitter to Linda Yaccarino, an advertising guru.
Reactions on Elon Musk's decision
Mia Street joked:
"Yeah, because there's too many of them."
Ntameni Mulaudzi also wrote
"I'd do that too. He is the business, kids must be as passionate as him in order to take his dream to the next level."
Amanda Labuschagne added:
"They can make their own."
Andrew Pienaar speculated:
"It would seem for Elon, money is simply a tool to achieve what others consider impossible - very much doubt he cares how much he has, simply that he has enough to do what he wants to do."
Aron Matjila said:
"Lies, that's what Bill Gates said, and then a 16yr old got $10m."
Elon Musk gives his opinion on civilisation, human progress
Meanwhile, in another report, the World's Richest man, Elon Musk, has explained what death means to him.
He noted that the transition to the afterlife is critical to human progress as people rarely change their minds.
Musk further stressed that death is essential, and scientists' theories about prolonging life make little sense.
Source: Legit.ng
