US electric vehicle giant Tesla is known for its quirky and unusual decisions and now the company has added a new name to CEO Elon Musk's list of official titles in a formal regulatory filing with the US Securities and Exchange Commission on Monday. The title added to the list is 'Technoking of Tesla'.
In the same filing, the company also named its Finance Chief Zachary Kirkhorn as 'Master of Coin'. Tesla did not mention any reason behind the cryptic new titles. Both the titles are effective as of March 15, 2021, as per the regulatory filing. Both Musk and Kirkhorn will also retain their current positions. “Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer," the filing said.
This could be a confidence booster for the Tesla CEO who recently lost $6.5 billion in a day, falling from the spot of the world's second richest person. Musk's overall wealth has fallen down dramatically since January when he was valued at around $197 billion and had also become the world's richest person. But he kept swapping the top spot with Bezos as the value of Tesla fluctuated.
In one of the various out of the box things that Tesla does, the company last month revealed that 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. Musk's recent promotion of dogecoin on Twitter also lifted the price of that cryptocurrency. This also led to Bitcoin hitting new highs of near $62,000 over the weekend.
Other significant information revealed in the filing is that Tesla's President of Automotive Jerome Guillen had moved to the role of President for Tesla Heavy Trucking, effective March 11.