San Francisco, Feb 5 (IANS) Some Tesla and SpaceX board members are aware of Elon Musk’s “illegal drug use” and regularly consume with him, “because they think abstaining- could upset the billionaire, who has made them a lot of money,” the media reported.
“They don’t want to risk losing the social capital that comes from being close to Musk, which for some is akin to being close to a king,” reports The Wall Street Journal (WSJ).
“Board members have raked in hundreds of millions in stock awards and separate investments, even as some have done drugs with Musk,” the report said.
According to the WSJ, friends and others close to Musk were concerned that his drug use was worsening, and “some urged him to go to rehab.”
Musk responded Monday that no one has ever mentioned rehab to him.
“First off, no one ever mentioned rehab to me,” the billionaire posted to X.
“Secondly, if they say that I was able to take Tesla to be by far the most valuable automaker and SpaceX to be by far the most valuable space company at the same time, that’s the biggest compliment I’ve ever received “, he wrote.
Last week, a judge in Delaware in the United States struck down Musk’s $56 billion Tesla pay package, saying it was “unfair” and asked board members to come up with a new pay proposal.
An angry Musk later announced that Tesla would immediately move to hold a shareholder vote to change its legal home from the US state of Delaware to Texas.
The WSJ report also claimed that many other directors of Musk’s companies have “deep personal and financial ties to the billionaire entrepreneur and have benefited greatly from the relationship.”
“Several current or former Tesla and SpaceX executives attend parties with him, go on exotic vacations and hang out at Burning Man, Nevada’s arts and music festival,” the report alleges.
Musk has yet to respond to these allegations.
“Most members of Tesla’s current eight-person board have amassed hundreds of millions of dollars worth of stock from their seats over the years, far more than board members at other companies make for their service “, the report notes.
Some current and former Tesla and SpaceX executives are aware of Musk’s illegal drug use but have taken no public action, he alleged.
“The volume of drug use by Musk and board members has become concerning,” the report said, citing sources.
Reports previously surfaced that Musk had taken drugs including cocaine, ecstasy, LSD and magic mushrooms.
Tesla and SpaceX leaders were concerned about his drug use, “particularly his recreational use of ketamine, for which Musk has said he has a prescription.”