Billionaire Elon Musk is now 'Technoking' of Tesla, new filing shows

Topics Elon Musk | Tesla | Auto sector

Elon Musk | Photo: Bloomberg

Tech billionaire Elon Musk has reportedly changed his official title at Tesla to "Technoking", according to a new filing issued to the US and Securities and Exchange Commission (SEC).

The filing did not specify what Musk's title at the electric car firm was prior to the change, though he is listed as the company's CEO.

Zach Kirkhorn will maintain his position of chief financial officer, but his official title has changed to "Master of Coin," also effective March 15, reports marketwatch.com.

Separately, Tesla disclosed on Monday that Jerome Guillen, president of automotive, has transitioned to the role of President, Tesla Heavy Trucking.

Tesla recently revealed it had purchased $1.5 billion of bitcoin and would soon accept it as a form of payment for cars, sending the price of the world's most popular cryptocurrency soaring.

According to early estimates from analyst Dan Ives at Wedbush Securities, Tesla has already made a profit of about $1 billion over the last month from its investment in Bitcoin.

"Based on our calculations, we estimate that Tesla so far has made roughly $1 billion of profit over the last month to put this in perspective, Tesla is on a trajectory to make more from its Bitcoin investments than profits from selling its (electric vehicle) cars in all of 2020," Ives wrote in a note published recently.

--IANS

wh/rt


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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