Donald J. Trump is known throughout the world as the “King of Tweets” for his controversial use of Twitter, both to boast seemingly unending successes about himself and to disparage his enemies in uncivil tones… Now, to the dismay of Tesla’s Board of Directors, CEO Elon Musk is becoming too loose with the statements he makes on in social media. I have a great deal of respect for Elon Musk, but was disappointed to see his response to criticism by a British diver for sending a submarine device to aid in the rescue of a Thai youth soccer team from an underwater cave.
He has apparently already been requested to stick with the company goals and avoid further controversy. However, recently, he tweeted that he had plans on taking the company private and had secured the funds to do so. Naturally, Tesla shares soared. The Board was caught completely unaware and immediately stated that investment bankers and venture capitalists didn’t have any written agreements. They then hired law firms. The SEC has even launched an inquiry into a series of tweets about privatizing Tesla, because no agreement has been signed or even reached. There is added scrutiny because of the enormous importance of Tesla Model 3 reaching its production goals on time. The company has still yet to turn a profit, and equity holders are hoping the production model will be the winner that will finally make the company profitable. Tesla was founded in 2003, in San Carlos, California. NYTimes