Elon Musk of Tesla, the electric car manufacturing company, has changed his job title from CEO to ‘technoking’. Also, henceforth, Zach Kirkhorn, financial chief, Tesla, will be known as the ‘master of coin’.
These changes in titles have been implemented after Tesla attained a new record of earning a profit of approx. $25 billion in just a single day. No other organisation has ever set such a record before. The shares of Tesla went up by 20 per cent on March 9, making Musk worth $174 billion, pushing him close to Bezos.
Bezos is the richest CEO presently, with a total net worth of $180 billion, followed by Musk in second position with a net work of $173 billion.
By the second month of 2021, Tesla had earned more money through its Bitcoin holdings than from actual car sales. When the cryptocurrency hit $60,000 last week, Tesla made over $1 billion!
Meanwhile, in India, investors are worried about the country’s proposed regulation to criminalise the possession of and dealings in digital currencies, such as Bitcoin. Such a law at a time when crypto assets are attracting more attention and interest is causing investors to be concerned.
The Government of India is working on a bill that will ban all forms of cryptocurrencies and launch a new digital asset that will state the risks to financial stability.