Published: Sun, October 14, 2018
Money | By Wilma Wheeler

Murdoch under consideration for new Tesla chairman

Murdoch under consideration for new Tesla chairman

Murdoch is a non-executive director of Tesla and has reportedly signaled that he wants to take over as chairman according to sources familiar with the situation, according to Reuters. Finally, Barclays set a $210.00 target price on shares of Tesla and gave the company a "sell" rating in a research report on Monday, August 27th.

The new factory would also likely be the birthplace for all Australian Teslas once it is up and running with costs and delivery times slashed thanks to lower operating costs and the plant's relative closeness to our shores.

James Murdoch is the favourite to take over the chairmanship of volatile electric-carmaker Tesla from its embattled founder, Elon Musk, according to reports.

Mr. Musk also "liked" a response on Twitter that said in part: "Judge should dismiss this frivolous attack and shame the SEC".

"This is incorrect", the Tesla CEO tweeted, without elaborating. Of course, that does not mean that Murdoch is out of the race altogether, merely that he is not a Musk favorite.

San Francisco: An April Fool's Day prank may soon see the light of day as billionaire entrepreneur Elon Musk has confirmed that a Tesla-branded tequila, called "Teslaquila", is "coming soon".

A bibliophile and a business enthusiast. In addition, he stepped down as chairman of United Kingdom -based satellite TV operator Sky following its sale to Comcast. Rupert Murdoch's son has reached a point of divergence from the family business in recent months.

A subsidiary of T. Rowe that manages the company's mutual funds boosted its investment in Tesla to 10.2 percent during a tumultuous quarter for the Palo Alto, California-based auto maker, shown by controversial tweets by Musk about taking the company private. The terms of that agreement included Tesla appointing a new independent chairman by the middle of November.

The news comes after Musk agreed that he would relinquish his position as chairman but continue on as CEO after reaching a $20m settlement with the Securities and Exchange Commission (SEC), a USA financial regulatory agency. He and Tesla each agreed to pay $20 million fines. Contributions of 200 words or more will be considered for publication. Board members include his brother Kimbal Musk and long-term friend and investor Antonio Gracias.

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