Elon Musk Declares: My Children Will Not Inherit My Empires

In a move that defies the traditional approach to legacy and wealth, Elon Musk—one of the most powerful and controversial business figures of our time—has made it clear: his children will not inherit control of the empires he built.

Speaking in a candid interview with The Wall Street Journal on May 23, Musk said he has already identified successors for the companies he founded—including Tesla, SpaceX, Neuralink, and The Boring Company—should anything unforeseen happen to him. However, none of those names include his children.

“I am firmly of the school that it’s a mistake to give kids voting shares in companies—even if they have interest, aptitude, or talent in running them,” Musk stated. “That’s not the right way.”

The billionaire’s words reignite a long-standing debate among the ultra-wealthy: Should children be handed the keys to multibillion-dollar enterprises just because of their last name?

A Personal Philosophy Against Dynasties

Musk, 53, compared the challenge of succession to one of humanity’s oldest dilemmas. “Succession has always been one of the eternal challenges—it’s been the disease of nations, kings, prime ministers, presidents, and CEOs since the dawn of history,” he explained.

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True to his word, Musk said he has already lined up potential successors who are currently active within his companies. While he did not reveal names, some insiders speculate the list could include Tesla’s top executives, such as Tom Zhu—the Chinese-born executive who has led Tesla’s Gigafactories and played a major role in expanding operations in North America and Europe.

Last year, during a court proceeding related to a shareholder lawsuit against Musk and Tesla’s board, Tesla director James Murdoch—son of media tycoon Rupert Murdoch—revealed that Musk had already identified a candidate to take over the role of CEO. However, Murdoch declined to name the individual.

Meanwhile, Musk has already handed over the CEO position of the platform formerly known as Twitter (now “X”) to Linda Yaccarino, while taking on the role of CTO himself.

Musk and His Nine Children

Elon Musk is publicly known to have nine children from different relationships. His oldest is now 19, while his youngest child, X Æ A-XII—born to musician Claire Boucher (Grimes)—is just three years old.

Although Musk occasionally appears in public with young X Æ A-XII, his relationship with his older children appears strained. In a highly publicized event last year, Musk’s eldest child filed for a legal name change and requested to sever all ties with her father, stating she no longer wished “to be related to my biological father in any way, shape, or form.”

That incident not only drew media attention but also raised questions about Musk’s family life and his views on parenting, especially in the context of his growing fortune and influence.

Inheritance Debates Among Billionaires

Musk is not alone in rejecting the idea of wealth transfer through inheritance. Many prominent billionaires have taken similar stances. Steve Jobs’ widow, Laurene Powell Jobs, has famously said she does not believe in passing on great wealth to children, and neither Bill Gates nor Warren Buffett plans to leave the majority of their fortunes to their offspring.

Buffett, who has pledged to give away 99% of his wealth, once said, “The perfect amount to leave to your kids is enough so that they feel they could do anything, but not so much that they could do nothing.”

Still, not all billionaires agree. French luxury titan Bernard Arnault, chairman of LVMH, has openly groomed his five children to compete for leadership roles in the family empire. Rupert Murdoch, the media baron behind Fox News and News Corp., has already passed down key leadership roles to his sons in a transition marked by family tension and reported internal power struggles.

It’s a dilemma that has haunted dynasties for generations: continuity versus meritocracy.

Musk’s Unconventional Approach to Parenting

Musk has never been a conventional figure—neither in business nor in parenting. In the past, he has discussed how he co-founded a private experimental school called “Ad Astra” for his children and a small group of other students, aiming to “prioritize critical thinking over grades.” The school has since evolved into an organization called Astra Nova, which reportedly emphasizes problem-solving and ethics over standardized testing.

At one point, Musk claimed to have taught his children to code as early as age three. But while he may be interested in shaping their minds, he’s made it abundantly clear that he has no intention of handing them the reins to his empires.

“My companies are not inheritance vehicles,” Musk reportedly told a Tesla shareholder in 2023. “They are missions.”

Who Will Carry the Torch?

Speculation continues to swirl around Musk’s long-term plans, especially as Tesla, SpaceX, and Neuralink move into crucial phases of expansion. Tesla remains one of the most valuable companies in the world, with its AI and robotics divisions receiving increasing attention from investors. SpaceX is gearing up for major Mars and lunar projects with NASA and private contractors. Neuralink has recently entered early-stage human clinical trials, and The Boring Company continues to seek traction in infrastructure projects across North America.

If Musk were to step down unexpectedly, who would take over the helm of these operations? While Musk has hinted that his successor will be someone already working under him, he remains tight-lipped about the details.

What is certain is that the person will not be carrying the Musk surname—at least, not as a matter of birthright.

A New Model for the Next Generation

In a time when generational wealth and privilege remain hot-button issues across America, Musk’s decision to break the cycle of corporate inheritance sends a powerful message. It challenges long-standing traditions and raises new questions about merit, legacy, and the role of family in shaping the future of global business.

His stance may inspire other tech founders to reconsider how they plan for succession—not as a matter of family ties, but as a matter of competence and mission alignment.

While his children may inherit Musk’s name and perhaps even a fraction of his vast fortune, they won’t be inheriting his boardrooms.

And for Elon Musk, that’s exactly how it should be.