Forbes surveyed 65 of the world’s richest people and found just over half (52%) believe “hybrid” models that allow employees to mix in-person and remote work will be the way of the future.
Elon Musk touched a nerve last week when he said he would be requiring all Tesla employees to return to the office for at least 40 hours a week—or leave the company. The strong stance from the world’s richest person sparked a firestorm of reactions, including from Australian billionaire Scott Farquhar, the cofounder and CEO of software giant Atlassian, who blasted Musk’s mandate as “something out of the 1950s.
“While it [was] set to only be a temporary phenomenon, its effects on how millions of people work will be with us for good,” said Dixon. “The reasons are easy to find: forces like growing demand for work-life balance, the intensifying need to attract the best people, companies’ growing emphasis on people-first policies, the rising costs of city-centre space and, perhaps above all, the climate imperative, are all persuading employees and employers alike that it’s time for change.
Still, there are many billionaires arguing for a return to the status quo. Jim Thompson, the Hong Kong-based billionaire behind Crown Worldwide, one of the world’s largest privately held relocation companies, said that while the pandemic accelerated the “usefulness” of remote work, he doesn’t see it ever properly replacing “face-to-face” collaboration.
Then there’s those like Tilman Fertitta, the billionaire owner of Fertitta Entertainment, the parent company of the restaurant giant Landry’s and the NBA’s Houston Rockets, who don’t have the same choice.“We are in the hospitality business where our whole purpose is to serve guests and create memorable experiences. It is impossible to do so without being present inside our restaurants, casinos, hotels, and entertainment complexes,” said Fertitta.