Tesla has informed the U.S. Securities and Exchange Commission (SEC) that Elon Musk has officially changed his title to “Technoking of Tesla” and CFO Zach Kirkhorn has changed his title to “Master of Coin.” Musk is not stepping down as the CEO of Tesla, as the filing confirms that he will maintain his current position.
Tesla’s SEC Filing Shows New Titles: Technoking of Tesla and Master of Coin
Elon Musk’s electric car company, Tesla Inc., filed Form 8-K with the U.S. Securities and Exchange Commission (SEC) on Monday stating that effective as of March 15:
The titles of Elon Musk and Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively.
While his title may have changed, Elon Musk is not stepping down as the CEO of Tesla. The filing clarifies, “Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer.”
The SEC filing does not provide an explanation of why the two executives’ titles have been changed and Musk has not explained as of press time. The only recent tweet referencing “techno” by the new Technoking of Tesla prior to the title change was made on Saturday when he wrote: “Homo sapiens techno: Loves raves & technology.” The Technoking subsequently tweeted about techno music Monday when he posted a video set to techno music and wrote: “I’m selling this song about NFTs as an NFT.”
The crypto community greatly welcomes the Tesla executives’ new titles. “As cash and cash equivalents go digital, even C-Suite titles go sci-fi,” the pro-bitcoin U.S. Senator Cynthia Lummis tweeted in response to the title change announcement. She elaborated:
Ready to work with ‘Masters of Coin’ to support financial innovation that protects value and offers opportunities for the unbanked to find their financial footing.
Lummis has been a bitcoin hodler for many years. She recently said that she is determined to convince Congress members that bitcoin is a great store of value. She will also try to educate the new Treasury Secretary Janet Yellen about bitcoin. Yellen currently thinks that cryptocurrencies are mostly used for illicit financing.
Tesla revealed in an earlier SEC filing that it had invested $1.5 billion in bitcoin. The company also informed the regulator of its plan to soon accept BTC as a means of payment for its products. In January, the price of BTC ranged between $32,221 and $40,784, based on data from markets.Bitcoin.com. At the time of writing, bitcoin’s price stands at $56,444.
What do you think about Elon Musk as Technoking of Tesla and Zach Kirkhorn as Master of Coin? Let us know in the comments section below.