Elon Musk smokes pot on live podcast
- Author: Kara Saunders Sep 08, 2018,
Sep 08, 2018, 6:13
Tesla is under extreme pressure to turn a sustained net profit starting this quarter, as promised by Mr Musk, but in the second quarter it burned through $739.5 million (€648m) in cash and lost a quarterly record $717.5 million (€620m). Tesla noted in a statement to Reuters that Morton opted to depart from the company due to his discomfort with the level of public attention and Tesla's overall pace of work.
Some people speculated that he was high when he tweeted last month that he was considering taking Tesla private, citing his proposal of $US420 a share - "420" is a reference to weed.
Even before the announcement of Morton's departure, the company's shares were already seeing a slight decline in Friday's pre-market trading as reports of Elon Musk's behavior in a podcast with comedian Joe Rogan emerged.
When The New York Times asked Musk if he was smoking when he made the tweet, Musk replied, "Weed is not helpful for productivity".
The company disclosed the departure in a regulatory filing.
CAO David Morton joined the team August 6 and provided notice of his immediate resignation September 4, according to a company 8-K filing. The stock has plunged 31 percent since Musk floated the idea of taking the auto maker off the public market, lopping billions of dollars off the company's market value. "This caused me to reconsider my future". It said Morton had no disagreements with Tesla's leadership or financial reporting. The Model 3 starts at $35,000, although the cheapest one that can be purchased at present costs $49,000. The report, which was published by electric car-themed news site InsideEVs, estimated that the Tesla Model 3, Model S, and Model X, were the Top 3 electric cars in the USA in August.
Morton joined the company as chief accounting officer with the expectation he would eventually take over for Deepak Ahuja as CFO, the person said. Morton couldn't immediately be reached for comment.