James Murdoch may replace Musk as Tesla chairman

James Murdoch is said to have expressed interest in the role of chairman

It looks like James Murdoch, the chief executive of 21st Century Fox and the son of media tycoon Rupert Murdoch, is the favored candidate to replace Elon Musk as chairman of Tesla.

Mr Musk agreed to give up the chairmanship last month to resolve claims of fraud brought by U.S. financial regulators. He stepped down from the board of Sky Plc on Tuesday following the completion of Comcast's takeover.

This news comes on the heels of word that James is stepping down after the sale of 21st Century Fox's assets to Disney wraps up. According to reports, James Murdoch had indicated that he would be very interested in the job.

Setting up manufacturing in China would see Tesla avoid import duties as high as 40 per cent and it would also mean cheaper electric cars for the Chinese market - the world's biggest market for electric vehicles.

Musk is the public face of Tesla, and any chairman would have to contend with his powerful personality. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

On Aug. 2, Musk shared his desire to take the company private with the Tesla's Board of Directors, chief financial officer and general counsel. Tesla's quarterly revenue was up 43.5% compared to the same quarter previous year.

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However, Mr Musk said on Twitter that the FT report was "incorrect" without providing any further detail. But spokesman for Tesla, Kamran Mumtaz, said that these reports were false.

If developed, the drink would not be the first time Mr Musk has sold a gimmick product alongside his more serious business ventures. It was impossible to locate the creators of the website. When Musk originally joked about the Teslaquila, it was part of a larger joke about Tesla claiming bankruptcy.

For his Boring Company tunneling venture, Musk raised $1 million and drew media attention last year for selling 50,000 branded hats, and earlier this year, he raised $10 million by selling 20,000 branded flamethrowers. Elon Musk then published in the network on which it sits kind of passed out, leaning on the side of the electric vehicle, and on the chest hangs a Board with the inscription "Bankrupt".

According to the official complaint from the SEC, "In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source". "Just want to [say] that the Shortseller Enrichment Commission is doing incredible work", Mr. Musk tweeted on October 4.

Clyde Evans is the lead editor for White Pine Tribune.

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