Telsa Inc.’s chief executive officer has a new title, as Elon Musk becomes the company’s “Technoking,” according to a filing submitted to the Securities and Exchange Commission.
Alongside Musk’s change in title, the company’s chief financial officer Zach Kirkhorn is now the “Master of Coin” over at Tesla. There’s no explanation for why both Tesla execs have new job titles at the company. However, Musk and Kirkhorn will retain their current positions as chief executive officer and chief financial officer, respectively, according to the filing.
The Wall Street Journal reports that both men’s title changes are a response of sorts to “signs of a bumpier road ahead” in the coming years. Rivaling companies like Chinese electric vehicle maker Nio are starting to cut into the company’s “market-share lead in electric-vehicle sales.”
This alteration comes not long after Tesla invested some $1.5 billion in Bitcoin in February, announcing that the company will accept the cryptocurrency as a form of payment. Musk–who has now surpassed former Amazon CEO Jeff Bezos as the world’s richest person–has also been an advocate for cryptocurrency, often tweeting about Bitcoin, Dogecoin, and NFT.
