Elon Musk is always full of surprises as it has come to our attention that the South African tech-guru recently dropped his chief executive job title for something more eye-popping like, “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 which is believed to be a reference to the company’s $1.5bn purchase of Bitcoin this year.
Neither Mr Musk nor Mr Kirkhorn have elaborated on the meanings of the new titles. None the less, we like the new changes as they’re way more playful and less serious unlike the usual termionlogies we are used to hearing.
The electric automaker announced the changes to his title in a filing with the US Securities and Exchange Commission on Monday, along with chief financial officer Zach Kirkhorn’s new position as “Master of Coin.”
“Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer,” the filing concludes — just in case you were worried that Tesla was officially becoming one of the Seven Kingdoms of Westeros.
The title changes were hilarious. Its like waking up in the morning only to find out that the President of Uganda, Yoweri Kaguta Museveni has changed his title to President of Wakanda.
The changes are said to have come just days after a Tesla investor sued Elon 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. According to BBC, in May last year, Elon 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. It was not the first time Elon’s social media persona has landed him in trouble.
These few past years, Elon Musk has been very active on Twitter, and his tweets have often landed him in trouble with some considered as misleading and a risk to his company stocks.
Elon Musk makes some surprising changes to his job title
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”.
Musk, who recently lost his status as richest person on the planet after Tesla’s stock price dropped in February, could be looking for a way to boost the confidence of his team and company so that it can rise again to the top.
The company had one of the most impressive stock rallies of 2020, surging over 600 percent as the market responded favorably to Musk’s vision of zero-emission vehicles dominating the globe reports The Verge.
But those numbers began to dip in 2021, with Tesla’s shares down nearly 14 percent in the first two months. A fire at the company’s Fremont factory last week also sent share prices down. And reports surfaced of over 450 cases of COVID-19 among Tesla workers through December 2020.
Whether Elon’s new title can change the course of the company is yet to be seen. He is often known to be a prankster and at times goes overboard with his tweets taunting reporters and government regulators respectively.
Author: Allan Bangirana
Allan Bangirana is a freelance writer for Newslibre & Spur Magazine. He is passionate about tech, games and occasionally writes about entertainment, lifestyle and so much more.