Is Elon Musk Compromising Tesla And His Other Companies In Bid To Overhaul Twitter? New Report Points To Employee Crossovers

Elon Musk appears to be leaving no stone unturned in turning around Twitter, even if it means it comes at the expense of his other ventures, including his flagship electric car company Tesla Inc. (NASDAQ: TSLA).

What Happened: Musk has used the services of high-ranking executives and engineers from Tesla, SpaceX and Boring Company for Twitter, CNBC reported, citing internal records it had access to and recent conversations with Twitter staff.

Partners from investment banks that extended financing for the Twitter buy have also been roped in to work at the social media company, the report said. The hours contributed by each person thus far and whether they worked in person or remotely weren’t yet clear, added the report.

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Twitter has been availing the services of more than 50 Tesla employees, primarily autopilot software engineers, since the deal closed in late October, CNBC said. The number of talents drawn from SpaceX and Boring Company was more than six and at least three, respectively.

Why It’s Important: Musk’s Twitter purchase has alienated some of his even staunchest supporters and Tesla’s 50% stock drop has been partly blamed on the deal.

The billionaire reportedly told a Delaware Court in November that Tesla employees working at Twitter have done so on a voluntary basis as a sort of after-hours.

While putting the number at less than 50, he said, “It was very short-term. I think it lasted for a few days and it was over.”

A Tesla employee reportedly told CNBC that if people were called for working additional hours at Musk’s other ventures, most would feel honored. Most, meanwhile, may not feel comfortable turning down a request for fear of facing a backlash.

Photo: Courtesy of Wikimedia Commons

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