Palo Alto, California – Some board members of Tesla, the electric vehicle company led by Elon Musk, reportedly expressed private concerns that Musk may have been under the influence of drugs when he tweeted about taking the company private in 2018. According to sources familiar with the discussions, these concerns were revealed in a recent report by The Wall Street Journal.
Musk, who was still serving as Tesla’s chairman at the time, surprised shareholders with a tweet in August 2018 stating that he was considering taking the company private at $420 per share. The tweet raised eyebrows and led to speculation about Musk’s state of mind. Board members were caught off guard by the announcement despite previous reports that Musk had mentioned the idea to the board a week earlier.
The Wall Street Journal report also suggested that some board members privately discussed asking Musk to take a leave of absence due to concerns about his tweets and potential drug use. During an interview with The New York Times following the tweet, Musk described his leadership at Tesla as “excruciating” and acknowledged that the past year had been the most difficult and painful of his career.
The report further mentioned that Tesla’s communications team was unaware of Musk’s plans to sit down with a reporter for the interview with The New York Times. It is worth noting that although Musk has claimed to dislike taking illegal drugs, he has been open about using recreational drugs like marijuana and small doses of ketamine to treat depression. The Wall Street Journal report even stated that Musk allegedly consumed multiple tabs of acid at a party in Los Angeles and psychedelic mushrooms in Mexico in 2019.
While drug use may be prevalent among Silicon Valley power players, illegal drug use could have implications for Musk and his company SpaceX. SpaceX relies on billions of dollars in government contracts, and companies receiving these contracts are required to comply with the Drug-Free Workplace Act.
In addition to the concerns raised by board members, Musk’s tweet about taking Tesla private also resulted in consequences. The Securities and Exchange Commission (SEC) launched an investigation into his statement and subsequently filed a lawsuit that led to $40 million in penalties. Musk agreed to step down as Tesla chairman while the company appointed two independent directors to its board.
It is important to note that Musk’s attorney did not provide immediate comment on the matter.
In summary, board members of Tesla reportedly expressed private concerns about Elon Musk’s possible drug use when he tweeted about taking the company private in 2018. The concerns were revealed in a recent report by The Wall Street Journal. Musk’s tweet led to an SEC investigation and legal consequences, including a $40 million penalty. Musk has openly discussed his use of recreational drugs for medical purposes, but the implications of illegal drug use could be significant for his company SpaceX, which relies on government contracts.