Big news today after Tesla founder Elon Musk announced that he is no longer the company’s CEO. But before the shares begin to tumble, fear not, he’s still there, he just changed his title to something altogether more ridiculous. Musk is now Technoking.
The change was announced via a filing with the US Securities and Exchange Commission with Chief financial officer Zach Kirkhorn’s new position listed as “Master of Coin.”
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.
Nothing will actually change behind the pair’s title and, presumably, stationary. “Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer,” the filing says.
The Verge ponders what was behind the move, suggesting that Musk could be looking to rekindle interest in a company that has seen its valuation impacted of late.
Musk, who recently lost his status as richest person on the planet after Tesla’s stock price dropped in February, could be looking for a confidence boost as his company’s once high-flying valuation falters slightly. The company had one of the most impressive stock rallies of 2020, surging over 600 percent as the market responded favorably to Musk’s vision of zero-emission vehicles dominating the globe.
Whatever the reason for the change in titles, we can’t imagine it taking off beyond Tesla. Don’t expect Apple CEO Tim Cook to follow suit, for example.
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