Tesla has officially given CEO Elon Musk the title of “Technoking of Tesla,” in a new regulatory filing on Monday.
Musk will retain his position as chief executive officer, Tesla said. Zach Kirkhorn, Tesla’s chief financial officer, has also been given a new title: “Master of Coin.”
In a filing with the Securities and Exchange Commission on Monday, the car company said: “Effective as of March 15, 2021, the titles of Elon Musk and Zach Kirkhorn and Master of Coin, respectively.”
It’s unclear what has prompted the new titles. Last month, the Californian startup announced it had bought $1.5 billion worth of bitcoin.
Tesla shares surged by 600 percent last year, quadrupling Musk's personal fortune and briefly putting him ahead of Amazon CEO Jeff Bezos as the world's richest man. Tesla shares have had a rockier start to 2021, but last week the stock surged 20 percent in one day after data from the China Passenger Car Association showed Tesla sold 18,318 Model 3s and Model Ys made at its Shanghai vehicle plant in China.