Tesla shares rose more than 20 percent in a week, raising Elon Musk’s personal net worth to $ 195 billion, $ 10 billion more than the world’s richest ex-man, Jeff Bezos, according to with the Bloomberg Billionaires Index on January 8.
When Tesla owns Silicon Valley tweeted Upon hearing the news, Musk’s response was only six words, “How strange”, followed by “Well, back to work …” This may seem like a very annoying reaction to becoming the richest person in the world. But it was a perfect answer and a useful lesson in emotional intelligence for every leader.
See, he knows how random and changeable this good news is, as well as any news related to the stock price of his companies. Tesla’s stock closed at more than $ 880 the day I’m writing this article, but less than two years ago it was worth about $ 38. (Go ahead and kick it if you didn’t buy any at that time, I’m certainly .)
As for Musk, it’s hard to overstate how young he is among the richest people in the world. He made $ 150 billion – more than three quarters of his mega fortune – just last year. It is probably not difficult for him to remember the days he slept in the office – not so that he could spend as much time at work as is often the case today, but because he couldn’t afford an apartment to go home . .
He also knows how quickly fortunes can change, especially when they are tied to the vagaries of financial markets. In recent years, he has protested short sellers (investors betting on a company’s stock price drop) for speaking ill of Tesla, perhaps in a nefarious attempt to make quick money. He has seen legitimate stock analysts question Tesla’s prospects and predict its downfall repeatedly – one of these companies has publicly confessed that it understood things very, very wrong. And Musk also learned how the Securities and Exchange Commission could cut its wings, even when everything was going well.
In other words, he has absorbed a little wisdom that every business leader must remember. Some days you are the hero and some days you are the goat and it is much smarter to ignore the ups and downs in what people (and markets) think of you. Instead, do what Musk says all CEOs should do – focus on making your product “as awesome as it could be”.
If the rising stock price, reaching a business goal or receiving a prize makes you feel at the top of the world, you can collapse when you lose your goals, lose a big customer or face public criticism. The best leaders don’t take any of this very seriously. Instead, they do what Musk says he’s doing – get back to work.