February 29, 2024

Certain board members at Tesla and SpaceX are said to be aware of Elon Musk’s alleged use of illegal drugs and even partake in drug use themselves. The reason behind their involvement is believed to be their fear of upsetting the billionaire, who has been instrumental in their financial success.

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According to a report by The Wall Street Journal (WSJ), the board members are reluctant to risk losing the social status and benefits that come from their close association with Musk, which some liken to being in the presence of royalty.

Despite their participation in drug use, these board members have still managed to amass significant wealth through stock awards and separate investments.

According to the report, individuals close to Musk and his friends expressed concerns about his escalating drug use, and “some even urged him to seek rehabilitation.”

In response, Musk stated on Monday that he has never been approached about rehab by anyone. “Firstly, I have never been approached about rehab at any point,” the billionaire shared on X.

“Secondly, if these individuals are implying that I have successfully led Tesla to become the most valuable carmaker and SpaceX to become the most valuable space company simultaneously, then that is the highest form of praise I have ever received,” he added.

Recently, a judge in Delaware, USA invalidated Musk’s $56 billion compensation package at Tesla, deeming it “unfair” and requested the board members to devise a new remuneration plan.

Musk later declared that Tesla will promptly initiate a shareholder vote to relocate its legal headquarters from Delaware, a US state, to Texas.

Numerous other directors of Musk’s companies are said to have “strong personal and financial connections to the billionaire-entrepreneur, and have gained immense profits from this association.”

The report further alleged that “several present or former directors at Tesla and SpaceX socialize with him, embark on extravagant vacations, and participate in Burning Man, the arts and music festival held in Nevada.”

As of now, Musk has not yet responded to these accusations.

The report highlighted that “most members of Tesla’s current eight-person board have accumulated shares worth hundreds of millions of dollars throughout their tenure, surpassing the compensation received by board members of other companies for their services.”

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