In the midst of a trial in Delaware, Elon Musk said that he doesn't want to be CEO of any company, according to The Verge.
The billionaire is currently CEO of Tesla, SpaceX, the Boring Company, Neuralink, and just recently, of the social media platform Twitter.
Delaware Court Probes Elon Musk's 2018 CEO Pay Package
Musk is facing a trial at a Delaware court over the 2018 CEO pay package that Tesla granted him.
The trial, which kicked off on Monday, is probing the car company's board decision of approving a pay package for its CEO that is now worth about $52 billion at recent share prices.
It's an "unparalleled compensation plan" for a CEO, according to CNBC. It has given him billionaire status. Likewise, it has made him the richest person on the planet.
The court is also investigating the angle of whether Tesla's CEO had any undue influence over the board's decision of granting him the pay package.
The lawsuit was filed by shareholder Richard J. Tornetta against Musk and Tesla alleging that the CEO's compensation was excessive. Likewise, the lawsuit alleges that the authorization issued by Tesla's board over the pay package is a breach of its fiduciary duty.
During the testimony, Tesla's CEO explained that the CEO title is not necessarily a fitting description for the work he does at his companies.
According to him, the CEO is most of the time seen as a business focus role. However, he said that at SpaceX he is responsible for the engineering of rockets, while at Tesla he works for the technology in the car that makes it successful.
Musk was also asked by Tornetta's attorneys about a report that he authorized around 50 Tesla employees, mostly Autopilot engineers, to render help with his work at Twitter.
The CEO said that it was on a voluntary basis and the work was rendered at Twitter after hours. According to him, he was not called out by any Tesla board member to say it's not a good practice to use the car company's resources for his other company.
Read Also: Stressed Out? Elon Musk Thinking of 'Quitting Jobs,' Becoming an Influencer
Elon Musk Plans to Appoint a New CEO for Twitter Over Time
Meanwhile, in relation to Musk's statement that he does not want to be CEO of any company, the billionaire said that he intends to find a new Twitter CEO over time.
According to him, he expects to reduce his time at the company and find somebody to run it eventually.
In late October, the billionaire completed the $44 billion takeover of the San Francisco company.
Earlier this month, he fired much of its full-time workforce by email. According to ABC News, it is also expected that the new CEO will eliminate an untold number of contract jobs responsible for fighting misinformation and other harmful content.
According to reports, there has been a number of engineers who were fired this week after saying something critical of its CEO.
ABC News reports that an email was sent by Twitter's CEO to the remaining staff of the company. The email is asking the employees to decide by Thursday evening whether they still want to remain a part of the business.
Moreover, Musk also told its employees that they "will need to be extremely hardcore" in order to build "a breakthrough Twitter 2.0."
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