Tesla stock sinks after Musk gives tearful NYT interview

Roman Schwartz
August 19, 2018

Musk described the past year as "excruciating" and the "most hard and most painful year of his career".

In an emotional interview with The New York Times, Musk also revealed that the pressures of work had caused him to spend his birthday stuck in the Tesla factory and nearly miss his brother's wedding. Musk also said that recently he has been working 120 hours per week, adding, "There were times when I didn't leave the factory for three or four days-days when I didn't go outside".

Anyone can see that Elon Musk has been having a rough year. They can force Musk to step down, take a leave of absence, or delegate some responsibilities to other executives.

But the one that's caused a recent firestorm among investors - about taking Tesla private, was posted in the middle of the day. When asked if he regretted his Twitter post, Musk replied: "Why would I?"

The Times went on to claim some board members believed Musk occasionally used recreational drugs.

The New York Times reported that Tesla executives had launched a search for a deputy to ease the burden on its South African-born founder.

A couple of years ago, Tesla approached Facebook executive Sheryl Sandberg about that job, Mr Musk told the newspaper, but he added that no active search is taking place now "to the best of my knowledge".

Bringing the depravity of the situation to the surface, Musk said that he has not taken leaves of more than a week from work since 2001.

He is chair and CEO of Tesla, CEO and lead designer at SpaceX and that's to say nothing of his side projects like The Boring Company and Neuralink.

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The latest tremor sent shudders through residents. "We are still monitoring", he told TVOne television. Sign-up now and enjoy one (1) week free access! There are no immediate reports of damage or injuries.

The company is the subject of a widening probe by the Securities and Exchange Commission.

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.

Whether it is his dreams on sending reusable rockets in Space or plans for building new electric vehicles, Musk's endeavours attract a huge fan following, and reporters all over the globe are always on their toes ready to write about him and his companies.

The regulator is already looking into Musk's tweet saying his plan for privatisation had "funding secured", amid concerns he misled investors.

In the interview with The New York Times, Musk said he fired off the tweet while on his way to the airport.

In one freaky moment in July, Musk labeled a British caver a "pedo" - or pedophile - after the rescuer dismissed the Tesla chief's idea for bringing 12 trapped Thai boys to safety in a miniature submarine.

But even if Tesla's board wanted to remove Musk as CEO, it would be unsafe to do it abruptly given how much faith investors have in Musk, said David Whiston, equity strategist at Morningstar. They can have the job.

The interview and other actions, Gordon said, are signs that Musk no longer can handle the CEO job. "They can have the reins right now", Musk tells the Times.

"If you have anyone who can do a better job, please let me know", he told The Times. Is there someone who can do the job better? He flew directly from the Gigafactory to his brother Kimbal's wedding in Catalonia, where was to be best man, arriving two hours before the ceremony, and returned immediately to Tesla headquarters afterward.

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