“I think it’s a mistake”: Elon Musk does not plan to transfer his assets to children

Elon Musk gave an interview to The Wall Street Journal. The 53-year-old billionaire has said he has no plans to pass on his companies or voting shares to children. He has already found potential successors in case “something suddenly happens to him.”

I’m definitely not one to automatically give my kids shares in companies if they don’t have the interest, desire, or ability to run the company. I think this is a mistake,” Musk said.

Elon Musk has nine children. Little is known about them. Four are still too young to notice their interest in the business. Two heirs of the founder of Tesla, Xavier and Griffin, have crossed the threshold of adulthood. The first renounced his parent, but the second, according to foreign media, plans to continue his father’s work.

Also in an interview, Elon Musk urged investors not to place too high hopes on the DOGE cryptocurrency. He believes that such investments may entail risks. However, the billionaire openly admitted that among all digital assets, Dogecoin is especially attractive to him, since this coin is associated with a dog theme and has elements of humor.

I do not advise anyone to buy cryptocurrency or bet on Dogecoin,” Elon Musk said.

Recall that the businessman has two children from Musk’s former lover, singer Grimes. The couple’s first child is named Ex Ash A-Twelve (X Æ A-12). In an interview with reporters, the billionaire explained the meaning of the baby’s name. And the youngest daughter’s name is Exa Dark Sideræl. Exa refers to the computational term “exaflops”, while Dark means “unknown”. Later, the singer admitted that she decided to change her daughter’s name.