Elon Musk said in court Wednesday that he wants someone else to run Twitter, adding that he doesn’t want to be the CEO of any company, according to CNBC News.
Musk made the comment amidst a trial where he is being sued by Tesla shareholder Richard J. Tornetta, who alleged that Musk’s compensation, granted by Tesla, was a breach of fiduciary duty, according to CNBC. Musk asserted that he didn’t want to run Twitter, or any company, noting that his compensation from Tesla spans past a “business focused role,” as he works with engineers and coders to innovate and design products.
Responding to questions about spending increased time at Twitter, Musk stated, “I expect to reduce my time at Twitter and find somebody else to run Twitter over time,” according to CNBC News.
“It’s my experience that great engineers will only work for a great engineer. That is my first duty, not that of CEO,” Musk added.
Elon Musk took the witness stand to defend himself in a Tesla shareholder lawsuit challenging a compensation package he was awarded by the company’s board of directors that is potentially worth more than $55 billion. https://t.co/WS9KcjASOf
— FORTUNE (@FortuneMagazine) November 16, 2022
Tornetta’s attorneys questioned Musk about using Tesla employees to assist in his Twitter takeover, and Musk responded that he only called on a select number of employees to assist at Twitter “after-hours” on a “voluntary basis,” according to CNBC News. He added that he had not received any complaints from the Tesla board for his decision.
“This was an after hours – just if you’re interested in evaluating, helping me evaluate Twitter engineering… that’d be nice. I think it lasted for a few days and it was over,” Musk said, according to CNBC News. “I didn’t think of this as using Tesla assets. There’s 120,000 people at the company. This is de minimis.”
Responding to comments about his CEO pay, Musk explained that Tesla had taken more of his time than any of his other companies in recent years, according to CNBC News.
“At SpaceX it’s really that I’m responsible for the engineering of the rockets and Tesla for the technology in the car that makes it successful. So, CEO is often viewed as somewhat of a business focused role but in reality, my role is much more that of an engineer developing technology and making sure that we develop breakthrough technologies and that we have a team of incredible engineers who can achieve those goals,” Musk said, according to CNBC news.
During the trial, Tornetta’s attorneys asked Musk about his previous attitude towards the Securities and Exchange Commission (SEC), with Musk stating, “In general, I think the mission of the SEC is good but the question is whether that mission is being executed well,” according to CNBC News.
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