Elon Musk Refuses to Leave Tech Empire to His 10 Children, Says Doesn’t Believe in Handing Down Fortunes

Elon Musk Refuses to Leave Tech Empire to His 10 Children, Says Doesn’t Believe in Handing Down Fortunes

  • Elon Musk will not be handing control of his multi-billion dollar companies over to his children
  • Musk said he has already identified and selected particular people to take over if something happened to him
  • The SA-born billionaire announced earlier this year that he would be stepping down as CEO of Twitter

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SAN FRANCISCO - Tech multi-billionaire Elon Musk wants his 10 children to learn to fend for themselves.

Elon Musk won't leave his multi-billion dollar companies to his children
Elon Musk does not plan to leave his companies to his children. Image: Cristiano Barni
Source: Getty Images

The 51-year-old businessman revealed that he is not in the school of thought of leaving everything to his kids and would not automatically hand them share to his companies.

According to IOL, SpaceX and Tesla help Musk rake in a network of $188 billion, but his children allegedly won't see a cent from those companies.

Elon Musk already identified who will take over his companies if anything happens to him

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Instead of handing the reigns of his company over to his children, the South African-born business magnate has already made contingency plans in case something happens to him.

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Musk said he has already identified particular people to take over control of the companies, and the board is aware of his recommendation.

The tech wiz has already relinquished his role as CEO of Twitter to Linda Yaccarino, who he hired in early May, 702 reported.

South Africans are divided by Elon Musk's plans for his money

Below are some comments:

Mia Street joked:

"Yeah, because there's too many of them."

Ntameni Mulaudzi claimed:

"I'd do that too. He is the business, kids must be as passionate as him in order to take his dream to the next level."

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Amanda Labuschagne added:

"They can make their own."

Andrew Pienaar speculated:

"It would seem for Elon, money is simply a tool to achieve what others consider impossible - very much doubt he cares how much he has, simply that he has enough to do what he wants to do."

Charity Nyathi criticised:

"We have pressing issues like loadshedding and cholera outbreaks this is non of our business."

Aron Matjila said:

"Lies, that's what Bill Gates said, and then a 16yr old got $10m."

Elon Musk: Twitter boss spotted playing with his son X AE A-Xii in rare photos

In another story, Briefly News reported that Twitter CEO Elon Musk shared an adorable moment with his son that the internet can't get enough of.

According to PAGE SIX, X AE A-XII, the two-year-old child of the Twitter CEO and singer Grimes, joined him on stage during a Tuesday, April 18 event at Miami's Fontainebleau Hotel.

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Musk gave a glimpse into his tender relationship with his son while speaking on stage at the MMA Global POSSIBLE Conference.

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Source: Briefly News

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