In an official SEC filing, Tesla declares Musk its “Technoking”

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In an official SEC filing, Tesla declares Musk its “Technoking”

Tesla CFO Zach Kirkhorn is now "Master of Coin," Tesla says in SEC filing.

TIMOTHY B. LEE - 23 minutes ago

elon_musk-800x509.png

Enlarge / Then-future Technoking Elon Musk enjoying some cannabis on Joe Rogan's podcast.
Joe Rogan

Tesla CEO Elon Musk is now Tesla's Technoking, the company said in an official filing with the Securities and Exchange Commission. Tesla Chief Financial Officer Zach Kirkhorn is now "Master of Coin." The two men will retain their previous titles, the brief regulatory filing states.



The "Master of Coin" title may be a reference to Tesla's recent foray into cryptocurrencies. Tesla announced in Februarythat it had purchased $1.5 billion worth of bitcoin. Tesla also said it was planning to accept bitcoin for its products "in the near future." The announcement pushed bitcoin's value up to record highs.

Musk has a long history of attention-grabbing stunts. Around the same time as Tesla's bitcoin purchase, Musk touted the joke cryptocurrency Dogecoin, contributing to a tenfold increase in Dogecoin's value.

“Occasionally I make jokes about Dogecoin, but they are really meant to be jokes," Musk saidduring a recent Clubhouse interview.

In 2018, Musk announced that his Boring Company would sell branded flamethrowers. Fans snapped up 10,000 of them in 48 hours.

Last year, Tesla sold red "short shorts" with "S3XY" printed in gold across the back. The sale was a way of taunting short sellers—people who bet on a fall in Tesla's stock price—at a time when the company's stock was soaring.
Tesla's stock rose tenfold—from $88 to $880—between January 2020 and January 2021. But it's been on a downward slide over the last month. The stock is up nearly 2 percent in early trading today. Presumably, Wall Street is excited about Musk's new role as Technoking.


SOURCE: Ars Technica



Elon Musk changes job title to 'Technoking of Tesla'

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IMAGE COPYRIGHTGETTY IMAGES
image captionElon Musk will retain his position as chief executive

Elon Musk has dropped his chief executive job title and crowned himself "Technoking of Tesla".

Mr Musk will still retain his position of chief within the company, the US Securities and Exchange Commission (SEC) filing said.

Tesla's chief financial officer, Zach Kirkhorn, has the new title of Master of Coin.
This may refer to the company's $1.5bn (£1.1bn) purchase of Bitcoin this year.
Neither Mr Musk or Mr Kirkhorn have elaborated on the meanings of the new titles.

'Erratic and unlawful'
It comes just days after a Tesla investor sued Mr Musk and the company over a series of "erratic" and "unlawful" tweets.

Lawyers for Chase Gharrity accused Mr Musk of issuing false statements about Tesla's finances to his tens of millions of followers.

In May last year, Mr Musk shared a tweet claiming that Tesla's stock value was "too high".


His comments caused the company's market value to decrease by $13bn at the time.

The BBC is not responsible for the content of external sites.View original tweet on Twitter
It was not the first time Mr Musk's social media persona has landed him in trouble.
Mr Musk and Tesla each paid $20m in fines after he falsely claimed in a tweet in 2018 that he had "secured funding" of $72bn to take Tesla private.
The tweet also sparked an ongoing lawsuit claiming that his claims "defrauded shareholders".

Mr Musk recently lost his title as the richest man in the world after Tesla shares tumbled.

SOURCE: BBC
 

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