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Home >Companies >People >Elon Musk's new official title: 'Technoking of Tesla'

Tesla Inc has added "Technoking of Tesla" to billionaire Chief Executive Elon Musk's list of official titles in a formal regulatory filing. Finance chief Zachary Kirkhorn has been named "Master of Coin".

"Effective as of March 15, 2021, the titles of Elon Musk and Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively. Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer," the electric carmaker said in a filing.

The electric-car maker did not elaborate on the reasons for the cryptic new titles.

Last month, Tesla revealed it had purchased $1.5 billion of bitcoin and would soon accept it as a form of payment for cars, sending the price of the world's most popular cryptocurrency soaring. Musk's recent promotion of dogecoin on Twitter has also lifted the price of that cryptocurrency.

Bitcoin hit new highs of near $62,000 over the weekend but retreated around 5% today. Bitcoin's new high also came as ten-year U.S. Treasury yields hit a 13-month high of 1.64% on Friday. Bitcoin has more than doubled in 2021, after quadrupling last year.

Elon Musk's net worth is currently pegged at $179 billion making him the second richest in the world.

Musk recently hit a new milestone: He made a record $25 billion in one day. Tesla Inc.’s 20% jump on Tuesday had pushed the billionaire founder’s fortune to $174 billion, closing the gap with Jeff Bezos, the world’s richest person, according to the Bloomberg Billionaires Index.

Musk and Bezos have been battling for the top spot on the Bloomberg wealth index since the Tesla founder took over in January, the month his fortune hit $210 billion. Now the two tycoons are less than $2 billion apart. (With Agency Inputs)

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