Elon Musk Opens Up About 'Excruciating' Year

Joe Skipper  Reuters

In a recent interview with the New York Times, Tesla CEO Elon Musk discussed the issues surrounding his electric auto company in recent months.

Meanwhile, Tesla Chief Executive Officer Elon Musk last week said he wants to take the company private, creating a whirlwind in the market, drawing lawsuits and attention from US regulators for the unorthodox disclosure of critical company news.

The news sent Tesla shares soaring so much that trading was suspended in NY. It would seem his insane 120-hour work weeks are taking their toll. 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". He spent his entire 47th birthday in June at work. The upcoming meeting with the SEC will reportedly be focused on how Musk announced and handled the aftermath of his tweet last week, when he stated that funding was "secured" for Tesla's possible privatization at $420 per share.

Short selling involves borrowing shares in a company and selling them in the hope of buying them back later at a lower price when the firm's fortunes falter. An analysis this week by Bernstein's Toni Sacconaghi concludes that Tesla is fairly valued at around its current stock price.

He attributed a lot of his stress to short-sellers who bet against Tesla's stock, saying he's preparing himself for "at least a few months of extreme torture from the short-sellers, who are desperately pushing a narrative that will possibly result in Tesla's destruction". But he told the newspaper that he wrote the tweet inside a Tesla Model S while he was driving to the airport, and that no one else reviewed it.

The Times said that sources told the newspaper some Tesla board members have expressed concern about both Musk's workload and his use of Ambien, a sedative.

"I thought the worst of it was over", he told The New York Times.

Zinedine Zidane Sets Sights On Premier League Move
United were never keen on signing Toby Alderweireld as their scouting reports indicated he operates better in a three-man defence. He told me that United was a huge club. "Manchester City, PSG, but I chose United".

Musk also revealed he needed to take prescription medication to sleep during the latest ordeals, and disclosed he had approached Facebook's chief operating officer about becoming a number two executive at Tesla. He also denied to the Times any search happening right now "to the best of [his] knowledge".

He said in the interview that he had wanted to offer a roughly 20% premium over where the stock had been trading, which would have been about 419 dollars. He made a decision to round up to $420 - a number that has become code for marijuana in counterculture lore, the report said.

He said: 'It seemed like better karma at $420 than at $419.

"I was not on weed, to be clear. Weed is not helpful for productivity", he told the Times. There's a reason for the word "stoned". The figure $420 in the tweet made it more cryptic. In recent months, he has lashed out wildly on social media - at investment analysts, critics, and journalists who published stories about Tesla that he didn't like.

Normally known for his brash and unorthodox leadership style, Musk was, at points, penitent and self-reflective, acknowledging the headaches that some of his more recent public behaviour has caused for his company, its board members, and its shareholders.

In other news, a report from the University of California, Irvine, may settle the dispute about whether electric cars or fuel cells are cleaner.

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