From Reuters via Yahoo Finance, April 25:
When Elon Musk announced his surprise bid for Twitter Inc earlier this month, he said the social media company should reach out to his family office with any questions.
Yet very little is known about the Austin, Texas-based family office that manages the assets of Musk, the world's richest person and CEO of both electric car maker Tesla Inc and aerospace company SpaceX.
The office is called Excession and the man who helped build it is Jared Birchall, a former Morgan Stanley banker who has advised Musk on his interactions with Wall Street for several years, according to regulatory filings and legal documents.
Birchall is also the chief executive of Musk's brain chip firm Neuralink, a director at Musk's tunneling firm the Boring Company and a board member at the billionaire's philanthropic private foundation.
Birchall's multiple roles are uncommon for a family office manager and illustrate Musk's faith in him, said Raphael Amit, a management professor at the Wharton School.
"Once you appoint somebody to run the family office, that means that you trust him. And Elon wants to set it up in a way that allows him (Birchall) maximum control."
Birchall and Musk did not respond to requests for comment.
Born in 1974, Birchall was hired by Musk from Morgan Stanley in 2016 to work for his family office. Business registration records with the Texas comptroller of public accounts list Birchall as the manager of Excession as recently as 2021....
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