Let’s go back to talking once again about Elon Musk, the eclectic CEO of Tesla, who bought Twitter and who today – as reported a few days ago by TechCrunch – sold more than 20 million shares of the company, for 3.5 billion about dollars. At the moment, therefore, Musk’s shares of Tesla correspond to about 66 billion dollars.
The CEO did not offer any explanations regarding his new share sale, which follows last April’s sale for $8.5 billion and August’s sale for $7 billion. The consequence? The stock price continues to fall and desperate investors have asked the board and Musk himself to buy them back. It is probable that in 2023 the same manager will make a buyback, according to what has been declared, but nothing is certain, especially when it comes to Elon Musk.
Among other things, these days there are many rumors that speak of farewell to the CEO of Tesla, who could pass the baton to another manager. But they are just rumors. Who knows what will happen.
Will Tom Zhu take over from Musk?
Zhu is the legal representative of Tesla Shanghai. The rumors about the change at the top of Tesla are getting thicker. But confirmations are still very far away, and maybe Musk will amaze us again. Although the personality of the Tesla CEO has been quite cumbersome and difficult to manage for some time now, this does not mean that we must prepare to say goodbye to him in the short term.
In any case it seems that, if Musk were to “abandon ship”, the most likely candidate to replace him – at least for the moment – is precisely Tom Zhu.
The manager has been working for Tesla since 2014, and has completed many valuable projects for the American company, including the installation of the Supercharger network in China. But that’s not all, because he was the one who supervised the construction of Tesla’s Shanghai Gigafactory, which is still one of the most important centers for the production of cars for the House, and we know it very well.
Zhu resigned in recent days, despite his prestigious role, and for this reason everyone read it as the first step towards replacing Elon Musk and therefore taking on the role of CEO. Among other things, Musk had also declared a few days ago that he had already decided who will be his possible successor. Nothing for sure, he didn’t mention any names. But if we add the fact that Zhu has been in the US for weeks, everything seems to be going in one direction: goodbye Elon Musk. We’ll see, at the moment they are only rumors and, perhaps, coincidences.
Tesla’s plans for 2023
2023 begins for Tesla with a financial crisis and the problem of used cars to manage. During the year it should also start – finally – the production of the Cybertruck, presented years ago and postponed for a long time. It is expected on the market by the end of 2023. There are still many other projects from the Palo Alto company for the future, we’ll see what happens.
Elon Musk is also likely to decide to resign from role of CEO of Twitteras he hinted, and to devote himself 100% to Tesla. Who knows? We just have to wait for any developments.
