Elon Musk resigns as Tesla CEO with a USD 40 Million Fine

Elon Musk or simply the real-life Iron man is one of the notable new school Technology investors. From Space X which recently unveiled its Falcon 9 rocket, To SolarCity, Neuralink, the boring company and Tesla which is the latest company giving the slain billionaire sleepless nights. Elon Musk’s plans of colonizing Mars are on a standstill as electric cars might not pass the test after his resignation as Tesla CEO.

According to several Online reports making Jokes out of Elon Musk’s step down as Tesla CEO. The US securities and exchange commission (SEC) has fined the Tesla co-founder a tune of $40 million after a fraud like tweet (Fooling investors to losses) of taking the company private.

- Advertisement -
elon musk private tweet
The Elon Musk that triggered problems with SEC

While the Elon Musk tweet boosted the Letric car company stock for some good time, It’s by no doubt that the temporary rise negatively impacted the market. By the time Tesla’s board of directors thought about summoning the CEO to a disciplinary session, the securities commission was already diving into investigations of the slain tweet. Well, Its a bad time for Elon, But how about Tesla?

The future of Tesla without Elon Musk

Elon who has for the past 10 years witnessed Tesla in both its good and hard times will no longer foresee all actions by the electric car company as he is no longer the Chief Executive officer. Well, what’s the future of America’s fastest rising electric car company without the lead product architect present in the company?

- Advertisement -

The Tesla board of directors which consists of Elon’s brother Kimbal Musk and the 24-century films CEO will have to select a new boss for the Silicon Valley-based car company after Musk’s resignation. However, the new CEO may fail to take develop better plans or even fulfill the model 3 sales target dream since Musk was a product architect and the main head in production processes of all car models.

Although Elon In return to his SEC clearance had to pay a fine of $20 million and another $20 million fine imposed on Tesla also to be paid by Musk. Tesla will receive gradual growth as the former CEO will still remain a member on the board of directors even when he’s no longer the chairman. Nonetheless, Elon seems more focused on Space X of late and we may soon receive a big announcement for another Falcon ROcket hitting the skies as we shall unveil all progress to you.

- Advertisement -

The Latest