March 16, 2021
Tesla officially gave CEO Elon Musk the title of “Techno-King [AKA Technoking] of Tesla,” in a new regulatory filing on Monday, March 15, NBC News reports.
Musk will retain his position as CEO, Tesla said. Zach Kirkhorn, Tesla’s CFO, has also been given a new title: “Master of Coin.”
In a filing with the Securities and Exchange Commission on March 15, the electric vehicle company said: “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. Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer.”
It’s unclear what has prompted the new titles, NBC news says. Last month, the Californian startup announced it had bought $1.5 billion worth of bitcoin.
Tesla shares surged by 600% last year, quadrupling Musk’s personal fortune and briefly putting him ahead of Amazon CEO Jeff Bezos as the world’s richest man. Tesla shares have had a rockier start to 2021, but last week the stock surged 20% in one day after data from the China Passenger Car Association showed Tesla sold 18,318 Model 3s and Model Ys made at its Shanghai vehicle plant in China.
Research contact: @NBCNews