Musk: We don't plan to let our children take over the company, we have identified a successor for Tesla

On May 24th, Tesla CEO Elon Musk stated on Tuesday local time that he does not intend to let his child take over the company under his name in the future.Musk said in an interview with the media that he has identified a candidate to take over Tesla in the event of his poor health

On May 24th, Tesla CEO Elon Musk stated on Tuesday local time that he does not intend to let his child take over the company under his name in the future.

Musk said in an interview with the media that he has identified a candidate to take over Tesla in the event of his poor health. Meanwhile, Musk also stated that he believes it is wrong for executives to hand over company or voting shares to their children.

Musk said, "I would never voluntarily give my children some company shares, even if they have no interest, willingness, or ability to manage the company." "I think this is a mistake

Currently, Musk has 9 children known to the outside world, with the oldest being 19 years old. People often see Musk taking his 3-year-old son XAEA-XII to events, and even giving his Twitter badge to him. XAEA-XII's mother, Grimes, said that Musk regarded this little guy as his "disciple".

But Musk did not have such intimate relationships with all of his children. Last year, Musk's eldest daughter applied for a name change and said she no longer wanted to have any relationship with my biological father in any way, feature, or form.

Whether to allow one's children to enter the commercial empire built by wealthy individuals has been a long-standing debate among billionaires. Entrepreneurs such as Apple's Steve Jobs did not pass on their wealth in the company to their children.

Of course, many billionaires also choose to arrange their family members into businesses. The wealthiest people in the world, from Bernard Arnault to Rupert Murdoch, have already entrusted some of their businesses to their children, and there has been a struggle within the family regarding 'inheritance'.

Musk, who oversees five companies, stated that "succession is one of the most challenging ancient issues". But he said he had told the company's board members who he hoped would replace him in the executive position. Currently, Musk is the CEO of Tesla and also the Chief Technology Officer of Twitter.

Musk said, "I have informed the board that if something unexpected happens to me, this is the successor I recommend." "So in any case, the board knows who I recommend

Musk stated that he is more concerned about who will take over the company shares he owns. Musk said that this is also a problem he has been "working hard to solve". His initial idea was to create a "sort of educational institution" to control voting shares.

Earlier this month, Musk clarified rumors that he was searching for a new CEO at Tesla's annual shareholders' meeting. Prior to this, there were reports that Tesla Chief Financial Officer Zach Kirkhorn may become Musk's successor.

In 2022, Tesla board member James Murdoch testified in a lawsuit against Musk and Tesla, stating that Musk had identified a potential CEO for Tesla, but did not disclose any identity information of the person. Earlier this year, media analysis suggested that Zhu Xiaotong, senior vice president of Tesla's automotive business and president of Greater China, may become Musk's successor after taking over Tesla's US assembly plant and sales operations in North America and Europe in January of this year.

Since Musk privatized Twitter in October last year, his succession plans for other companies such as Tesla have been highly anticipated. Musk's focus on running Twitter has raised concerns among some investors that Musk may be distracted by it. Recently, several Tesla investors sent an open letter to members of the company's board calling for restrictions on Musk's behavior.

Since Musk appointed a new CEO to manage Twitter, people's concerns seem to have disappeared. At that time, Wade Bush technology analyst Dan Ives stated in a report that Musk finally had time to focus on his "Golden Boy" companies. (Chen Chen)