My1sttoday: The founder and CEO of Tesla Elon Musk changes his title to ‘Technoking of Tesla’ according to a filing submitted to the Securities and Exchange Commission on Monday.
More to that, the company’s chief financial officer ‘CFO’, Zack Kirkhorn, will now be known as the “Master of Coin.”
Both men will, however, maintain their respective current positions as CEO and CFO, the filing says.
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Although the company did not explain the meaning of the names in the filing.
The change in Kirkhorn’s title comes after Tesla purchased $1.5 billion worth of Bitcoin in February, and announced plans to accept the cryptocurrency as payment. At the time of the purchase, the company said its investment in “other reserve assets” may grow, The Associated Press reported.
According to The Wall Street Journal, these name changes come as the company is seeing “signs of a bumpier road ahead than in 2020,” as rivals are showing early signs of cutting into its “market-share lead in electric-vehicle sales.”