James Murdoch could take chairman role at Tesla

Kathy Hutchins  Shutterstock

Kathy Hutchins Shutterstock

He also stepped down as chairman of Sky after its takeover by Comcast. Because if Murdoch does take the board, part of his duties include succession planning for senior executives. And as an incumbent director on Tesla's much-maligned board, Murdoch would likely face criticism for his role on a board viewed by many being far too cosy with Musk.

Setting up manufacturing in China would see Tesla avoid import duties as high as 40 per cent and it would also mean cheaper electric cars for the Chinese market - the world's biggest market for electric vehicles. Filing to trademark a name would be a pretty intense strategy for furthering a prank, so it seems possible that this might be a real endeavor for Musk.

In spite of his Tweet, the word is that Elon Musk will have to step down from his position as the Chairman of Tesla, for a period of 3 years. Musk, who has been Tesla's chairman nearly since its inception, must give up that job as part of a deal with the SEC to resolve securities fraud charges the agency brought against him.

The settlement requires Tesla to install an independent chairman, among other penalties. Tesla's revenue for the quarter was up 43.5% compared to the same quarter a year ago.

The SEC sued Musk on September 27, alleging that a series of "false and misleading" tweets he made in August about potentially taking Tesla private constituted securities fraud.

The billionaire entrepreneur, whose behavior has grown increasingly erratic in recent months, is said to favor his friend Antonio Gracias, a long-time Tesla board member, as his replacement, according to the report.

Musk showed how will look the product. It was impossible to locate the creators of the website. Elon Musk was quick to deny the claims on twitter, however. Mr. Musk was stating this in response to a post as to why he was being impersonated by Twitter bots, to promote cryptocurrency.

The eccentric Tesla CEO - who is in the midst of settling fraud charges with the SEC that nearly cost him control of the electric-car maker - appears to be getting into the liquor business. He joined the board of Tesla in 2017 acting as a non-executive but has since expressed his desire for the chairman role.

He previously also sold 50,000 base ball caps for $20 each.

Clyde Evans is the lead editor for White Pine Tribune.

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