World’s richest man, Elon Musk says CEOs must reduce the time expended on meetings and PowerPoint presentations.
According to him, most company bosses are too pre-occupied and spent most of their days on discussions in conference rooms and presentations.
This, he said, prevents them from paying enough attention to actually developing ways to make their products better through day-to-day innovations.
Wall Street Journal quoted the Tesla CEO as disclosing this to an online audience Tuesday the Wall Street Journal’s CEO Council annual summit.
Read Also: I won’t attend Biden’s inauguration – Trump
“Are CEOs in corporate America focused enough on product improvement? I think the answer is no,” Musk, who is also the CEO of SpaceX, said.
He advised the CEOs present to “spend less time on finance, spend less time in conference rooms, less time on PowerPoint and more time just trying to make your product as amazing as possible.”
On Thursday, Bloomberg reported that Musk had become the richest man in the world, surpassing Amazon founder, Jeff Bezos on the Bloomberg Billionaire’s Index, which is the ranking of the world’s 500 wealthiest people.
The 49-year-old rallied to first place following a 4.8% rise in the electric carmaker’s share price on Thursday. Tesla shares surged 743% last year on the back of consistent profits.
The Pretoria, South Africa-born tech entrepreneur’s net worth was estimated at $188.5 billion at 10:15 a.m. on Thursday in New York, $1.5 billion more than Bezos’s.