Tesla Stock Drops As Elon Musk Unloads On 'Excruciating' Year

Elon Musk in Chicago

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The CEO of the electric auto company Tesla and the private aerospace company SpaceX recently conducted an hourlong phone interview with journalists at the New York Times, and he talked about his August 7 tweet in which he declared that he was "considering taking Tesla private".

The newspaper reported that during an hour-long telephone interview Mr Musk alternated between laughter and tears, acknowledging he was working up to 120 hours a week and sometimes took Ambien to get to sleep.

Musk told The New York Times how he spent his birthday holed up in Tesla's offices as the company raced to meet production deadlines, and almost missed his brother's wedding in the summer. Members of the Tesla Board of Directors have anxious Elon doesn't sleep after taking Ambien. he tweets, and it has caused the company problems. most recently when he tweeted he wanted to take the company private.

Investors must have gotten unnerved.

Though Musk says that his tweeted ultimatum was definitely intentional, and that he has secured to funding to make it a reality, he understood that the 420 reference might make people assume the billionaire - who is known for being a bit of a troll - was joking.

The Times report said board members had raised concerns over his "workload but also about his use of Ambien", a sleeping drug.

Hamish Chamberlayne of Global Sustainable Equity, a Tesla investor, said it would be hard to imagine the company without Musk running things, but backed the hiring of an operations chief.

Tesla didn't respond to requests for comment from The Associated Press early today. "They can have the reins right now". "I$3 f you have anyone who can do a better job, please let me know", he told the Times.

Most of the company's board members have ties and relationships with Musk, but Elson and Gordon say they also have a fiduciary duty to all the other shareholders.

"I thought the worst of it was over - I thought it was", he said. "I definitely did not get calls from irate directors".

The board also said it hasn't even fully explored whether to go private.

Musk claims he has secured funding to take Tesla private.

Tesla shares were down 0.6 percent at US$336.41 in morning trade on the Nasdaq.

Tesla's board showed no sign of taking any action Friday.

Electric auto maker Tesla's CEO Elon Musk gave the opening keynote, in March 2013, at the SXSW Interactive Festival in Austin, Texas.

Analysts at UBS this week questioned the profitability the Model 3, in a report that said Tesla could lose $6,000 on every base model.

Elson said most of the company's directors have relationships with Musk, who owns about 20 percent of the company.

Amid mounting questions about such a deal, Musk said that Saudi Arabia's Public Investment Fund had expressed interest in participating. He may have been referring to short-sellers, investors betting against Tesla whom he has openly wrangled with in the past.

Musk accurately predicted the pinch from Tesla's shorts isn't over yet.

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