Tesla CEO Elon Musk offers to buy Twitter
Musk, the CEO of Tesla Motors, was once at the forefront of electric vehicle advocacy. To trace his continued rise—as an entrepreneurial personality, in addition to businessman—from the early 2000s is to reflect the meteoric growth of the electric vehicle industry.
As recently as 2015, Musk was still considered a wild card who dabbled in the unrealistic: snatching up and founding progressive companies left and right, from Solar City to SpaceX.
But over time, he's proven less of a gambler than a pragmatist. That makes his bid to buy Twitter, the social media company with its own universe, all the more stirring to the public eye. Musk says he wants to privatize the company, which has a troubled corporate history but still commands the attention of billions of users worldwide.
The fact that a guy who began his career on the industrial side—pushing the foundational theories of alternating current (AC), no less—is now posing this decision as viable says a lot about where we are in the world, and about electric vehicles' emerging role.
All this wouldn't matter if the electric vehicle industry hadn't continued to show promise. Plenty of CEOs gallop from their original industry to greater roles and higher earnings; thus is the entrepreneurial spirit. This instance nonetheless provides a greater corollary. Even through the pandemic (where the industry took a significant hit), the global electric vehicle market size was USD 246.70 billion in 2020...a market anticipated to grow from USD 287.36 billion in 2021 to USD 1,318.22 billion in 2028 at a CAGR of 24.3% in the 2021-2028 period. Source: As per research report by Fortune Business Insights.