According to James Gorman, the CEO of Morgan Stanley, Elon Musk is among the most exceptional entrepreneurs of the past century. Gorman shared with Bloomberg TV that he believes Musk possesses extraordinary capabilities.
Morgan Stanley CEO James Gorman has named Elon Musk as one of the most exceptional entrepreneurs of the past century.
Gorman highlighted Musk’s achievements with companies such as Tesla, SpaceX, and the Boring Company as evidence of his greatness.
During a Bloomberg TV interview on Thursday, Gorman mentioned his bank’s loan that assisted Musk in acquiring Twitter.
When asked if Morgan Stanley had any plans of owning Twitter, Gorman responded negatively but still praised the social media platform as a “great company.” He then shifted the conversation to focus on Twitter’s new owner.
According to Morgan Stanley CEO James Gorman, Elon Musk is undoubtedly among the most remarkable entrepreneurs and businesspeople of the past century.
Gorman believes that Musk’s achievements with the Boring Company, SpaceX, and Tesla alone are evidence of his extraordinary capabilities.
Although Mr. Musk did not establish Tesla, he has become closely associated with the electric car manufacturer. Initially, he invested $6.5 million during a Series A funding round and later assumed the role of chief executive in 2008.
In addition to his involvement with Tesla, Elon Musk has founded several other companies. These include Zip2, PayPal, and SolarCity, which have since become a part of Tesla.
Mr. Musk was also a co-founder of OpenAI, the organization responsible for creating ChatGPT, among other things.
However, he resigned from the board of directors in 2018 due to conflicting interests in artificial intelligence with Tesla. In addition, Musk co-founded Neuralink in 2016 to focus on the development of “brain-machine interfaces.”
Gorman expressed his confidence in Mr. Musk’s leadership skills to guide Twitter during a period of significant restructuring and potential financial difficulties, including the possibility of bankruptcy.
When questioned about Morgan Stanley’s loan to Elon Musk, Gorman expressed confidence, stating that they are comfortable with their position.
Although Wall Street has been calling for Elon Musk to shift his focus away from Twitter and toward Tesla, which has experienced a decline of almost 70% in stock prices since its all-time high, Gorman’s praise for Musk remains unwavering.
According to Wedbush analyst Dan Ives, Elon Musk has been neglecting his duties at Tesla, having been “asleep at the wheel.” Additionally, even Tesla’s third-largest individual investor, Leo KoGuan, has distanced himself from being a fervent Musk supporter.
Last month, Leo KoGuan tweeted that Elon Musk had abandoned Tesla and that the company had no functioning CEO. He went on to state that Tesla requires a CEO who is fully dedicated to the company and working full time.
On Wednesday, Twitter announced a 35% decrease in revenue, while simultaneously initiating the auctioning of various assets, such as projectors, whiteboards, and chairs, to raise funds.
Information Source:- businessinsider
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