ADVERTISEMENT

Elon Musk's $420 target for Tesla stock probably wasn't a reference to weed (TSLA)

Elon Musk said in an interview with the New York Times that his planned $420 stock price wasn't a weed reference. He went on to say that weed is bad for productivity and $420 seemed the right choice for better karma. He also spoke about his frantic life, including Ambien and his 120 hour weeks.

  • Elon Musk recently tweeted that he wanted to take Tesla private at a price of $420 per share — which many thought was a reference to weed.
  • 420 is widely recognised as a coded reference to marijuana.
  • But in an interview with the New York Times, Musk said he is no fan of weed, and denied being high while tweeting.
  • Musk said he got the figure by sticking a 20% premium on Telsa's trading price, which came out at $419.
  • He said he then added $1 for "better karma."
ADVERTISEMENT

Elon Musk has implied that the $420 stock price he floated for taking Tesla private was not a covert reference to weed, contrary to widespread speculation.

In an interview with The New York Times, Musk also said that he was not high at the time he first mentioned the go-private plan in a tweet that quickly landed him in hot water.

Am considering taking Tesla... @ Elon Musk

ADVERTISEMENT

From the Times:

"He said in the interview that he wanted to offer a roughly 20 percent premium over where the stock had been recently trading, which would have been about $419. He decided to round up to $420 — a number that has become code for marijuana in counterculture lore.

"'It seemed like better karma at $420 than at $419,' he said in the interview. 'But I was not on weed, to be clear. Weed is not helpful for productivity. There’s a reason for the word "stoned." You just sit there like a stone on weed.'"

Although not a total denial, Musk's response steered the conversation definitively away from making a weed connection.

People had been wondering about the weed link because the number 420 is widely understood as a reference to marijuana, a figure born of California drug culture which has since taken on a life of its own. April 20, or 4/20, has a special resonance for many people who use marijuana.

ADVERTISEMENT

Media outlets like Gizmodo, New York Magazine and CNBC wondered whether Musk's tweet was a weed reference, or a joke, especially as Tesla initially couldn't explain whether Musk's idea was backed up by a serious plan.

In wall-to-wall coverage of... @ Ben Collins

In the interview he also talked about the stress he had been experiencing from overwork, and what he called "the most difficult and painful year of my career."

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

10 African countries with the lowest life expectancy according to the World Bank

10 African countries with the lowest life expectancy according to the World Bank

Kenyan women are more obese than their men - here’s why

Kenyan women are more obese than their men - here’s why

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

10 most dangerous African countries in 2024

10 most dangerous African countries in 2024

Russia’s nuclear influence expands further north of Africa

Russia’s nuclear influence expands further north of Africa

Navigating the future: How AI transforms selling on Amazon

Navigating the future: How AI transforms selling on Amazon

Wall decor tips: Transforming your space with style and creativity

Wall decor tips: Transforming your space with style and creativity

ADVERTISEMENT