Electric carmaker Tesla crowns Elon Musk 'Technoking' in cryptic regulatory filing

WION Web Team
New York, United States Published: Mar 15, 2021, 09:19 PM(IST)

Tesla boss has fulfilled a pledge to "own no home" (file photo). Photograph:( AFP )

Story highlights

The electric-car maker did not elaborate on the reasons for the cryptic new titles in a pair of statements that also said President of Automotive Jerome Guillen had moved to the role of President for Tesla Heavy Trucking, effective March 11

Electric carmaker Tesla added "Technoking of Tesla" to billionaire Chief Executive Elon Musk's list of official titles on Monday in a formal regulatory filing

The company also added the title "Master of Coin" for finance chief Zachary Kirkhorn it said in a filing with the Securities and Exchange Commission (SEC).

The electric-car maker did not elaborate on the reasons for the cryptic new titles in a pair of statements that also said President of Automotive Jerome Guillen had moved to the role of President for Tesla Heavy Trucking, effective March 11.

However, "Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer," the filing stated.

Last month, Tesla revealed it had purchased $1.5 billion of bitcoin and would soon accept it as a form of payment for cars, sending the price of the world's most popular cryptocurrency soaring.

Musk's recent promotion of dogecoin on Twitter has also lifted the price of that cryptocurrency.

Bitcoin hit new highs of near $62,000 over the weekend but retreated around 5% early in the European day on Monday.

Norm-shattering entrepreneur Musk, who has more than 41 million followers on Twitter and a fortune now estimated at more than $180 billion, has had frequent conflicts with regulators at the SEC and is not shy about tweaking them on social media.

In 2018, the SEC charged Musk with fraud, slapped him with a $20 million fine and demanded he step down as Tesla chairman after he tweeted out a plan to take the company private.

Read in App