Elon Musk, the CEO of Tesla, will host the May 8 premiere of Saturday Night Live, which will feature musical guest Miley Cyrus.

According to Variety, the 49-year-old business mogul is an unusual example of a business titan to be named host of the NBC late-night show. The announcement comes after Musk's SpaceX venture successfully launched its Dragon spacecraft to the International Space Station for the second time on Friday.

According to Variety, George Steinbrenner, the owner of the New York Yankees, helped SNL get started in 1990. NBC programming chief Brandon Tartikoff was the show's host at the time, in 1983, as the network started its storied run of success under his direction.

With his aggressive steps in the electric car arena with Tesla, Musk has been one of the most talked-about business leaders of the last decade. With his SpaceX company, he has also been a driving force behind the plan to finally create a market for space tourism.

Musk remains one of the most visible CEOs and tech entrepreneurs-impresarios of the moment, despite the fact that his various endeavours have had highs and lows, and his stewardship of Tesla has attracted considerable criticism. Forbes estimates his net worth to be $177 billion (roughly Rs. 13,23,400 crores).

Musk has been praised as a visionary for forging ahead in places that some found intimidating. However, investors have chastised him for his excessive compensation from Tesla and his personal conduct.

Musk's Boring Company is working on a loop for car traffic under the Las Vegas Strip around the city's convention centre, among other things, according to Variety.

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