Tesla shares down 8 percent after Musk's freakish interview


The Times did not press Musk over his many ventures and trips not directly tied to Tesla's production and sales efforts.

He went on to say he's constantly exhausted because of his workload and it's compromised his health.

In the interview, Musk stood by the tweet.

The Times went on to claim some board members believed Musk occasionally used recreational drugs.

Mr Musk added he had agreed not to tweet again about taking the firm private unless he had discussed it with the board. But Tesla isn't quite normal, with the identity and success of the company tied directly to Musk's intelligence and personality.

Musk himself said there was "no active search" and said he was not planning to resign his positions.

Musk said he did not intend to give up his roles as chairman and CEO but that if there was someone who could do the job better, "They can have the reins right now".

If Tesla directors are anxious about Musk - and they should be - here is advice for them: Do your jobs. Is there someone who can do the job better?

"We would like to make clear that Elon's commitment and dedication to Tesla is obvious", Tesla said in a statement. The newspaper reported that during an hour-long telephone interview on Thursday, Musk alternated between laughter and tears, acknowledging that he was working up to 120 hours a week and sometimes takes Ambien to get to sleep.

"It is often a choice of no sleep or Ambien", he said, referring to an insomnia medication.

Musk told the Times that board members had not complained to him about his tweet.

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Of the physical toll his job is taking, he said: "It's not been great, actually". I've had friends come by who are really concerned'. He wanted to offer a 20 percent premium over the stock price, which came out to $419, so he rounded it up to $420, which confused a lot of people who got the marijuana reference. There's a reason for the word "stoned". Musk said he flew directly from the Tesla Gigafactory and arrived just two hours before the ceremony, after the ceremony he returned immediately to work.

Musk branded the 72-year-old "evil" and "a awful human being" saying his father had done "almost every evil thing you can possibly think of". Shares are now more than 25% below the $420 price that Musk said he was aiming to take the electric-car maker private at. But I was not on weed, to be clear.' He admitted no one had seen the post in advance.

Earlier this month, Musk floated the idea of frustrating the stock's short-sellers by taking the company private.

Tesla's board has since created a committee of independent directors to evaluate the plan.

He explained that the Aug 7 tweet claiming assurance that funding for going private was secured was an attempt to be transparent, even though it provoked questions from analysts about whether it violated stock market regulations.

So far, these damaging allegations have resulted in Tesla being subpoenaed by government regulators and hit with two class-action lawsuits from investors who contend that the tweets violated federal securities laws.

The company could face sanctions if regulators find it did not accurately portray production delays to investors.

He's also the CEO and lead designer at SpaceX.

Musk has been known to taunt short-sellers, but he seems to be coming around to feeling a level of respect for their effectiveness.

But Gordon said a CEO wouldn't live at the factory.