Markets

Tesla's Musk says stress, overwork taking heavy toll

Tesla's Musk says stress, overwork taking heavy toll

Taking Tesla private would finally put an end to short-sellers - you can't freely sell and buy private company stock - and allow Musk to finally get some much needed sleep.

He admitted he had rounded up from $419 to set the possible price, offering an approximate 20 per cent premium over the market value, but said: 'Weed is not helpful for productivity.

Musk said that in late July, he met Saudi Arabian sovereign fund representatives to discuss the electric carmaker's possible exit from the stock market. When asked if he regretted his Twitter post, Musk replied: "Why would I?"

In a separate report, The Wall Street Journal said securities regulators have been investigating if Tesla misled investors about production problems for its Model 3 vehicle.

Musk said: 'This past year has been the most hard and painful year of my career.

"There were times when I didn't leave he factory for three or four days - days when I didn't go outside", he said. "They can have the job", Musk was quoted as saying.

It is still unclear whether Musk has "secured funding", as his August 7 tweet suggests. His professional reputation has been in a bit of a tailspin since the whole Thai submarine situation, and it all came to a head last week with the seemingly insane announcement he was taking Tesla private at the inherently humorous price of $420 a share.

'This has really come at the expense of seeing my kids. He said stress and exhaustion had taken a heavy toll as he lurched from one headline-making feud or feat to another.

The Tesla boss says he's prepared 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'.

The interview claims Tesla board members are anxious the drug does not help him sleep, but results in him spending all night on Twitter. That morning Musk left his house and drove to the airport, while on his way to the airport he wrote up the now infamous tweet.

Musk has argued that taking Tesla private would relieve the company of the "enormous pressure" of Wall Street's expectations.

Tesla CEO Elon Musk presided over the company's SolarCity merger in 2016.

The problem is, unlike Papa John's who will afforded the chance to improve their brand without their hapless founder, Tesla needs Musk at his best to compete at the World stage.

The news Friday was nearly all Tesla, all the time.

The newspaper reported that during an hour-long telephone interview Mr Musk alternated between laughter and tears, acknowledging he was working up to 120 hours a week and sometimes took Ambien to get to sleep. "They can have the reins right now", he told the paper.

At a normal company, Musk would have been replaced already, Elson said.

The Tesla board also briefly sought out a strong No. 2 to Musk - but has given up on that endeavor, according to the Times report.

"It's clear that Musk can not continue to run four companies at a time", said Stephen Diamond, an associate professor of law at Santa Clara University who specializes in corporate governance.

Musk said he occasionally takes Ambien to help him sleep.

Musk also explained in the interview that he has no plans to relinquish his dual role as chairman and chief executive officer. As far as the SEC is concerned, the question is whether Musk and others from the company's management misled shareholders about the cause of the delays or their extent.


  • Former Indian Prime Minister Atal Bihari Vajpayee Dies

    Former Indian Prime Minister Atal Bihari Vajpayee Dies

    He retired from politics in 2005 and suffered a stroke in 2009. He had quoted Vajpayee in the context of peace in Kashmir. State mourning for seven days till 22 August.
    Genoa bridge collapse: Search for bodies continues as Italy seeks answers

    Genoa bridge collapse: Search for bodies continues as Italy seeks answers

    They have been identified in Italian media as Roberto Robbiano, Ersilia Piccinino, and their seven-year-old son Samuel. It is 90 metres high, just over a kilometre long, with the longest section between supports measuring 200 metres.
    Parker Solar Probe to make second launch attempt Sunday

    Parker Solar Probe to make second launch attempt Sunday

    In just a few hours, United Launch Alliance will try a second time to launch NASA's highly anticipated Parker Solar Probe . The spacecraft is protected by a heat shield that will keep it closer to room temperature, about 85 degrees Fahrenheit.
  • Liverpool 4, West Ham 0: Mane grabs brace in big win

    Liverpool 4, West Ham 0: Mane grabs brace in big win

    West Ham manager Manuel Pellegrini has ruled out making a move for former Manchester City midfielder Yaya Toure . During pre-season I played alongside a variety of different players and we blended really well.
    United States  and China meet for trade talks

    United States and China meet for trade talks

    Previous rounds of talks between the two sides failed to make much progress, resulting in the outbreak of a trade war . Beijing retaliated by imposing the same percentage of retaliatory tariffs on 545 US items, also worth $34 billion.
    Fight for Afghan city rages despite Kabul's claim of upper hand

    Fight for Afghan city rages despite Kabul's claim of upper hand

    Mr Danish said at least 25 security forces had died in the fighting along with 150 Taliban fighters. They said they "liberated" the central prison in Ghazni and freed all Taliban prisoners.
  • U.S.  threatens ‘second wave’ of Turkey sanctions over detained pastor

    U.S. threatens ‘second wave’ of Turkey sanctions over detained pastor

    Erdogan has remained defiant in the face of the crisis with Washington, saying Turkey could turn to new alternative markets. The influential Protestant evangelical church in the U.S. is a major support base for Mr Trump.
    US Warns Turkey of Sanctions if it Does Not Release Pastor

    US Warns Turkey of Sanctions if it Does Not Release Pastor

    The US-Turkish economic war has led to unforgiving retaliations from both ends. Last week, the USA doubled its tariffs on metal imports from Turkey.
    Solar Eclipse August 11: where to watch

    Solar Eclipse August 11: where to watch

    A complete solar eclipse, then again, happens when the disk of the white sphere squares 100 percent of the sunlight-based circle. This morning the partial eclipse began at 8.02am UT (9.02am BST) with the Moon beginning to encroach on the Sun.
  • Unsafe levels of weed killer chemical found in cereals marketed to children

    Unsafe levels of weed killer chemical found in cereals marketed to children

    Environmental Protection Agency has a risk assessment that "concludes that glyphosate is not likely to be carcinogenic to humans". A General Mills spokeswoman told The Times, "Our products are safe and without question they meet regulatory safety levels".
    Halep outlasts Stephens in 3 to win Rogers Cup

    Halep outlasts Stephens in 3 to win Rogers Cup

    Stephens again looked to be on the brink of the first set after surging into a 5-1 lead which soon became 6-4 in the tiebreak. Making the finals here is incredible. "I couldn't believe that it's over, " Halep said. "Leading up to the U.S.
    Turkey says it will boycott US electronic goods

    Turkey says it will boycott US electronic goods

    Erdogan last week ruled out the possibility of higher interest rates, which economists say are needed to stabilize the currency. She added that it was too early to comment on the exposure of German companies to the economic situation in Turkey .