'Space Karen' Elon Musk Is Now Officially Tesla's 'Technoking'
Well, folks, he did it -- certifiably chaotic entrepreneur, 'Space Karen' Elon Musk has somehow managed to grow even more eccentric. On Monday, the SpaceX CEO took a break from discussing his love of music ...
... continuing on about Dogecoin -- even post-GameStonk ...
... and his long-time hobby of tanking his stocks via Twitter ...
... to embrace a new (and very real) official title fit for an oddball billionaire, the "Technoking of Tesla." In a Monday regulatory filing with to Musk's mortal enemy, the SEC, the electric automaker announced that co-Founder Musk would formally adopt the new King-ly title, with the company's CFO, Zach Kirkhorn, being officially dubbed the "Master of Coin." Both execs will keep their more traditional titles alongside their, erm, Musk-y monikers, according to the document. As CNBC notes, it is currently unclear why, exactly, Tesla decided to make this change, but one clue behind Kirkhorn's new title could be Tesla's recent $1.5 billion investment in Bitcoin, which they announced last month, a move which has led some experts to link the car maker's price to the cryptocurrency's value.
“Musk is now tied to the bitcoin story in the eyes of the Street and although Tesla made a billion paper profit in its first month owning the digital gold, it comes with added risk, as seen this week,” Daniel Ives, an analyst at Wedbush told CNBC in late February, referencing Bitcoin and Tesla's drops towards the end of the month.
Speculation and market performance aside, this is far from the first time Musk's Tesla title has made headlines. During his 2018 battle with the SEC over "deceptive tweets" about taking the publicly-traded company private at $420 a share (nice), Musk was "stripped" of his Chairman title. "He had only had discussions, not a firm agreement, on such funding with a Saudi sovereign wealth fund," CNN explained. Although the SEC also wanted to snatch Musk's CEO title, too, as a punishment, the entrepreneur was able to keep his C-suite label, slipping away with a $20 million fine.
Leave it to Elon!
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