Elon Musk is Now the Technoking of Tesla
Just another dull and dreary day over in the Tesla offices in California where Elon Musk has crowned himself as the ‘Technoking of Tesla’. According to the filing at the Security and Exchange Commission, he will still retain the role of ‘Chief’ within the company. Meanwhile, Zach Kirkhorn, previously the Chief Financial Officer, will now be known as the ‘Master of the Coin’.
This may all be in reference to the company’s purchase of US$1.5 billion worth of BitCoins earlier this year but right now, and for a change, Elon and Zach are not saying anything about the meanings of the new titles. The announcements do come just a few days after a Tesla investor instigated proceedings against Mr Musk for a series of alleged erratic and unlawful Tweets.
Lawyers for Chase Garrity have accused Musk of issuing incorrect and misleading and downright false statements via his Twitter account about Tesla’s finances, Tweets that are read by tens of millions of Elon’s adoring followers, or should that be subjects now? They may have a point as in a Tweet last year, in which Musk complained that the company was overvalued, the company’s market value slipped by US$13 billion.
Tesla stock price is too high imo
— Elon Musk (@elonmusk) May 1, 2020
It wasn’t only investors who suffered after this Tweet. Musk’s title as World’s Richest Man was also lost following the communication. Of course, Musk has been in trouble before concerning his communications as has Tesla, both of which paid a US$20 million fine over the 2018 Tweet in which he claimed to have secured funding of US$72 billion to take the company private. There is still an ongoing lawsuit claiming that he had defrauded shareholders with that message.