Elon Musk, CEO and founder of the electric vehicle company, Tesla has revealed in a filing with the US Securities and Exchange Commission (SEC) a new title for himself. Tesla’s CFO also has a new title.
The SEC filing read, “Effective as of March 15, 2021, the titles of Elon Musk and Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively.” However, the new titles do not change Musk and Krkhorn’s recognized positions at the company.
The filling continued that the two individuals will “also maintain their respective positions as Chief Executive Officer and Chief Financial Officer.
The news in itself might have a touch of humor surrounding it, but the fact it was forwarded to the SEC implies the CEO is serious about the new development.
The reason for the move by the CEO is still a mystery as neither the company nor any member of it released any further information on the topic. Therefore the public might have to keep on speculating on the reason pending any relatable announcement from Tesla or Musk himself.
Previously known as Tesla Motors, the company was founded in July 2003 as a tribute to Nikola Tesla, an inventor, and electrical engineer, for majorly the production of electric cars, battery energy storage solar panels and solar roof tiles, or any other related products and services.
Through its years of existence, the company has gathered some feat. For instance, in 2020, Tesla scored a market share of 16% of the plug-in segment and 23% of the battery-electric segment sales for that year earning it the world’s best-selling plug-in and battery electric passenger car manufacturer. That same year, the company also produced over 1 million electric cars.
Although Tesla has passed through tough times like different lawsuits and disputes owing to the behavior of the CEO Elon Musk, it is worth noting the big push the company, led by the CEO, made to the cryptocurrency market.
In February, Tesla completed a $1.5 billion worth bitcoin purchase and revealed it will soon allow customers to pay for its products with Bitcoin. The move significantly boosted Bitcoin’s price and further motivated offshore companies like those in Mexico to become interested in buying Bitcoin.
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