Tesla reportedly searching for a No. 2 executive for Elon Musk

Angelo Anderson
August 18, 2018

The Tesla boss told the New York Times that the year "has been the most hard and painful year of my career".

The day's drop in Tesla's stock shaved $5 billion off its market capitalisation, but still left it about $1 billion above General Motors' $51 billion stock market value. The upcoming meeting with the SEC will reportedly be focused on how Musk announced and handled the aftermath of his tweet last week, when he stated that funding was "secured" for Tesla's possible privatization at $420 per share. He said his reference to having secured funding referred to a potential investment by Saudi Arabia's government investment fund.

A former member of Tesla's internal investigations team, Karl Hansen, filed a tips, complaints and referrals form to the SEC about the Gigafactory on August 9, Mr Hansen's attorney Stuart Meissner said in a news release.

Elon Musk is estranged from his and Kimbal's father Errol, after he had a baby with his own stepdaughter - a woman who is 42 years his junior.

Multiple news outlets reported on Wednesday that the Securities and Exchange Commission had served Tesla with a subpoena following Musk's tweets.

In preparation for the mounting litigation, Musk, Tesla and the board of directors, respectively, have hired lawyers from top firms: Paul, Weiss, Rifkind, Wharton & Garrison; Cahill Gordon & Reindel; and Latham & Watkins.

In the interview, Mr Musk revealed the physical and emotional toll of the past year as he sacrificed family milestones in the race to meet Tesla production targets.

Musk boomeranged from laughter to tears during an interview with the NY Times.


The brash South African-born entrepreneur also sought to explain his tweet earlier this month about taking Tesla private, which has drawn scrutiny from regulators. Tesla's cars are wildly popular and the world would miss them if the shorts prove right.

"While this may be a governance issue it would be a very disappointing company issue because Elon Musk's vision and personality is so intertwined in the company".

However, some board members have said it does not help him sleep but contributes to his late-night Twitter sessions, which often get him in trouble. He said he doesn't regret sending it and has no plans to leave Twitter. I've had friends come by who are really concerned'.

Musk told the newspaper that sometimes he did not leave the Tesla factory for three or four days straight, and that he had not taken off more than a week at a time since he was sick with malaria in 2001.

In a separate report, The Wall Street Journal said securities regulators have been investigating if Tesla misled investors about production problems for its Model 3 auto.

But he cryptically added, "if you have anyone who can do a better job, please let me know".

The Times also quoted Musk as saying that Tesla tried to recruit Facebook executive Sheryl Sandberg a couple of years ago to serve as the company's No. 2 executive under Musk - a role similar to that filled by Gwynne Shotwell as president of SpaceX, Musk's privately held space venture.

The Tesla boss says he's prepared for 'at least a few months of extreme torture from the short-sellers, who are desperately pushing a narrative that will possibly result in Tesla's destruction'.

Other reports by Iphone Fresh

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