• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

Meet a 71-year-old who retired as a radiologist and professor, and now runs a banana-skewer business: ‘I never want to retire. Why would you do that?’

3

China suffers another setback in effort to de-dollarize global finance as anchor in the greenback's dominance quietly exits Beijing's payment scheme

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

Meet a 71-year-old who retired as a radiologist and professor, and now runs a banana-skewer business: ‘I never want to retire. Why would you do that?’

3

China suffers another setback in effort to de-dollarize global finance as anchor in the greenback's dominance quietly exits Beijing's payment scheme
Tech

Tesla Shares Tumble 9% After Worrisome Elon Musk Interview

By
Jonathan Vanian
Jonathan Vanian
Down Arrow Button Icon
By
Jonathan Vanian
Jonathan Vanian
Down Arrow Button Icon
August 17, 2018, 3:10 PM ET
Google source logo
Add Fortune on Google for similar content.

Tesla shares plummeted a day after an interview with CEO Elon Musk painted a picture of an exhausted leader struggling to handle one of the company’s most difficult periods.

Tesla shares fell nearly 9% in midday trading on Friday to $305.61 after the New York Times story published Thursday evening. In the interview, Musk said he has been working 120 hours a week as Tesla tries to fix production problems with its much-anticipated Model 3, a car that is intended for the mass market and is critical for the electric car company’s future.

But the personal cost appears to have taken a toil on Musk. In the interview, he calls the past year “excruciating” and “the most difficult and painful year of my career” while also acknowledging that he often relies on Ambien to help him sleep. The Times reported that some Tesla board members are concerned about his use of sleeping pills.

Musk also said that no one reviewed his infamous Aug. 7 tweet in which he said: “considering taking Tesla private at $420. Funding secured,” which sent the company’s stock soaring. The Twitter comment reportedly prompted the Securities and Exchange Commission to seek more information from Tesla about the veracity of Musk’s claim and his decision to reveal a potential blockbuster deal on the social network instead of more formally through the SEC.

Other recent actions that have concerned investors include Musk calling a diver who helped rescue Thai children trapped in a cave a “pedo” and berating analysts during a conference call.

Get Data Sheet, Fortune’s technology newsletter.

In a tweet on Friday, CNBC news anchor Jim Cramer called the latest interview “devastating” and said “the safest thing for Musk right now is a medical leave.”

Devasting New York Times piece filled with new facts. We know that the safest thing for Musk right now is a medical leave.. I would insist on it. https://t.co/kRm9Ye3i6l

— Jim Cramer (@jimcramer) August 17, 2018

Update: Friday at 1:10 PM PST.

Tesla shares were down 8.93% to 305.50 at end-of-day trading on Friday.

About the Author
By Jonathan Vanian
LinkedIn iconTwitter icon

Jonathan Vanian is a former Fortune reporter. He covered business technology, cybersecurity, artificial intelligence, data privacy, and other topics.

See full bioRight Arrow Button Icon

Latest in Tech


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Tech


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.