Tesla-branded tequila ‘Teslaquila’ coming soon: Elon Musk

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At a recent Goldman Sachs conference, Murdoch called his experience at Tesla "fascinating" and praised Musk for setting "some really audacious goals" for the maker of electric vehicles.

Though the board has until mid-November to name a new chairman, as part of the SEC agreement, that deadline can be extended if Elon asks for it to be. He is also contemplating starting a technology investment fund.

The SEC sued Musk on September 27, alleging that a series of "false and misleading" tweets he made in August about potentially taking Tesla private constituted securities fraud.

It will also be a bright spot for the company, which has been battered with poor publicity over Musk's erratic behaviour of late - setting up what is likely to be his replacement as chairman with James Murdoch. If Musk truly wants to outwit Murdoch, he'd better abandon the Gracias plan and pick a new independent board member to serve as chair instead. According to the SEC's complaint related to his tweet about Tesla going private, Musk calculated a 20% premium on Tesla's share price at $419 but rounded it up to the $420 figure because he thought the marijuana reference would amuse his girlfriend.

"Ilona found without creating a near Tesla Model 3, surrounded by bottles of "Teslaquilla", traces of dried tears still visible on his cheeks", wrote then Musk.

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Post his spat with the Securities and Exchange Commission, Elon Musk ended up paying tens of millions of dollars in fine. Royal Bank of Canada lifted their price target on Tesla to $315.00 and gave the stock a "positive" rating in a research note on Thursday, August 2nd.

Another source told the Financial Times that finding someone from outside Tesla was also an option.

In May, proxy advisers Glass Lewis & Co and Institutional Shareholder Services and activist investor CtW Investment opposed the re-election of Murdoch to Tesla's board. Either way, the clock is ticking.

Murdoch's availability to take on the Tesla chairman job has improved as the youngest son of media mogul Rupert Murdoch is leaving his current role with Fox owing to the sale of much of the company to Disney and a reorganization of its remaining units. The diver has since filed suit in both Los Angeles and London. In the years since the filing, Musk has used Twitter to go on rants against short sellers, the media, and celebrities.

The tech entrepreneur described the SEC as the "Shortseller Enrichment Commission" in a tweet and sarcastically praised the agency's work.

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