Elon Musk received a new title – “Technoking of Tesla”. The electric car maker formally notified the US Securities and Exchange Commission on Monday of the new position. It also indicated the new title of Zach Kirkhorn’s CFO – Master of Coin. The latter is a clear reference to the fantasy world of A Song of Ice and Fire by George R. R. Martin.
“Elon and Zach also will retain their positions as executive and financial directors, respectively “, – the message says (apparently, so that uninitiated people would not think that Tesla is turning into a fantasy state).
Elon Musk, who recently lost his status as the richest man on the planet after Tesla’s share price plummeted, may hope to bolster public confidence in his company in this extravagant way – investors have recently begun to doubt Tesla’s future.
In 2020, Tesla showed one of the most impressive examples of stock price gains, with its valuation up more than 600% as the market reacted positively to Elon Musk’s vision for zero-emission vehicles. But in 2021, the opposite trend was outlined: in the first two months, Tesla shares fell by almost 14%. A fire at the company’s Fremont plant last week also sent stock prices down. In addition, more and more eminent competitors like Volkswagen are entering the clean electric car market, which are decisively gaining ground.
Mr. Musk has a reputation for being a corporate joker, disagreeing with the traditional image of corporate executives and often shifting the boundaries of decency. He used Twitter to taunt journalists and government regulators, test driver assistance software on regular clients, calling it full autopilot, and so on.
Techno King is not the only new product from Tesla this year. By the end of the year, the company should start production of the angular pickup Cybertruck, although His Majesty Elon I has already said that Tesla will be “lucky” if the launch of this electric car does not have to be postponed.
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