Elon Musk

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Elon Musk does not respect the SEC

Elon Musk
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Talk about poking the bear.

Elon Musk, boss of the electric car maker Tesla, told US news programme 60 Minutes: "I want to be clear. I do not respect the SEC - I do not respect them."

It isn't the first time the tweet-happy Mr Musk has taken aim at SEC.

In September, the Securities and Exchange Commission (SEC) fined Mr Musk $20m and forced him to step down as chairman to settle charges of securities fraud after he tweeted that he planned to take the company private.

In the interview, Mr Musk said that that no-one is pre-approving his tweets.

"The only tweets that would have to be, say, reviewed would be if a tweet had a probability of causing a movement in the stock," he said. "Otherwise it's 'Hello, First Amendment'."

SpaceX launches reusable rocket

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SpaceX, the business founded and lead by Elon Musk has launched a Falcon 9 rocket launch from the Vandenberg Air Force Base in California.

It is the third time the Falcon 9 rocket has been used and it is launching 64 satellites.

Tesla hits 1,000 a day

Tesla charging
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Tesla has met its production target of 1,000 Model 3 cars per day.

That's according to website Electrex.

It quotes an email from founder Elon Musk, indicating that production levels needed to be maintained: “If you are able to help in any way with getting Model 3 production to a steady 1,000 per day at excellent quality, everyone at the company should please consider this their top priority. Body production currently appears to be our limiting factor, so it needs the most support right now. Please focus on simplification and reducing cycle time first and then uptime.”

Tesla's head of global security out after 11 months

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Jeff Jones, Tesla's head of global security, has been given the boot after just 11 months on the job - that's according to a sources-only story by CNBC.

Mr Jones had reported directly to Tesla's former head Elon Musk.

One current and one former Tesla employee told CNBC that Mr Jones was dismissed from the electric vehicle maker in mid-November.

The circumstances around his departure were not publicised however and employees were told only that Mr Jones' position was no longer needed, CNBC reports.

Earlier this month, Mr Musk was forced to give up his role as Tesla's chairman amid claims of fraud brought by US financial regulators.

Tesla has since named an Australian executive as his replacement..

Life on Mars for Elon Musk?

Elon Musk
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Elon Musk says there's a good chance he'll visit Mars.

In an interview with Axios on HBO, the billionaire said there's a 70% chance he'll take one of his SpaceX rockets to Mars.

"I know exactly what to do. I’m talking about moving there," he told the US news website.

"It’s gonna be hard. There’s a good chance of death."

Standing up to Elon

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Robyn Denholm
Tesla

The new chairwoman of Tesla is in for an interesting time, according to Stephanie Butcher, European equity income manager at Invesco Perpetual.

Robyn Denholm was named as the replacement for Elon Musk after he fell foul of US regulators.

"She certainly can't be any more volatile than Mr Musk, so it has to be an improvement," Ms Butcher tells Wake up to Money.

"There are those who are arguing that it would have been good to have a complete outsider because she has been an independent board member on the Tesla board for a while. The reality is that we'll just have to see but it is clear that the corporate governance of Tesla needed to change and needed to change quite dramatically.

She adds: "The key is can she stand up to Mr Musk when he is going through his more volatile stages."