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Tesla reveals zany new job titles as boss Musk basks in crypto highs

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Tesla Inc (NASDAQW:TSLA) chief executive Elon Musk will also now take on the job title of ‘Technoking’, the company said in an regulatory filing on Monday.

The electric car manufacturer’s chief financial officer, Zachary Kirkhorn, will also have ‘Master of Coin’ as an extra titular appendage, the SEC announcement revealed.

READ: Using UK investment trusts to invest in global Big Tech

Seemingly not wanting to be left out, there was also a change for president of automotive Jerome Guillen. He will now be president for Tesla heavy trucking, according to a more banal statement released at the same time.

Tesla did not give details on why the new job titles had been given.

Reading the techno-runes, broker Wedbush said: “We believe this hints at Musk viewing Tesla more as a technology disruptor in the future especially with robotaxis, FSD, and massive battery technology advancements on the horizon at Tesla.”

Analyst Daniel Ives calculated that Tesla has so far made roughly US$1.2bn paper profits on its bitcoin investment.

Tesla shares opened 1% lower at US$686.73 on Monday. This follows a rollercoaster few months in which the stock price more than doubled from just over US$400 in mid-November to over US$880 around the end of January, then lost over a third of its value to below US$570 before bouncing back solidly in the past week. 

READ: Tesla sales in China click up a gear while rivals slip

Multibillionaire Musk has continued to work hard on his zaniness, last year naming his baby son X Æ A-12 and allowing himself to be videod apparently smoking dope on a chat show appearance in 2018.

The chat show was a stressful time for Musk, amid a tussle with the company was losing money hand over fist and he had a high-profile tussle with regulators over a tweet when he suggested that funding had been “secured” to take Tesla private.Over the weekend, however, the company benefited from last month’s purchase of US$1.5bn of bitcoin, as the price of the popular cryptocurrency climbed to a new all-time high above $61,000.

Lately, the technoking’s twitter account has been very much focused on cryptocurrencies, including giving a big boost to ‘meme-currency dogecoin.

Over the weekend, Musk continued to tweet about the dog-faced crypto, saying he was planning to get a Shiba Inu dog, the Japanese mascot of the cryptocurrency.

Story by ProactiveInvestors


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