Elon Musk, the CEO of Tesla, has dropped all his titles associated with the electric car company and said that he is now ‘nothing of Tesla.’ Musk made the claims through his Twitter account. The dropping of his titles comes in light of a statement with the Securities and Exchange Commission. Musk promised in a deal to step down as chairman of the company for three years, but he was able to maintain his position as the CEO. Tesla’s website is also backing up with his claims that no titles will be associated with him on Tesla’s investor relations website.
Deleted my Tesla titles last week to see what would happen. I’m now the Nothing of Tesla. Seems fine so far.
— Elon Musk (@elonmusk) October 29, 2018
In a follow-up, Musk said that he would be needed to maintain the title of President to comply with the legal requirement of every company to have one. Musk also suggested keeping the title of ‘product architect.’ Now Tesla will have to choose a new independent chairman and add two new board members before 2018 ends. Musk invited all this upon himself after he posted on Twitter that he was considering taking the car company private and has funding secured. He went as far as to declare a share price for his company. Later on, it was discovered that Musk met with a Saudi Arabian investment firm and left the meeting with the promise that the funding could be secured.
The commission ruled that Musks comments on Twitter had been “false and misleading” and demanded that Musk pay $20 million in fines in addition to a $20 million fine which was to be paid by Tesla. Critics questioned Musk if he had tweeted this under the influence of drugs. Many pointed that the suggested share price of $420 was about marijuana.
First 1000 Boring Company Flamethrowers being picked up today! pic.twitter.com/hBMp5fGzAB
— Elon Musk (@elonmusk) June 9, 2018
Musk is a regular Twitter user, but this is not the first time a comment has blown up. Last year, a joke about Snowballs led to the orientation of the Boring Company’s flamethrower. Earlier this year, Musk tweeted unreasonable claims against a British diver which was involved in the rescue of the Thai soccer team. He also went on a small war on Twitter with rapper Azealia Banks who claimed that Musk appeared stressed and red in the face over a weekend after making the claims about securing funding.