Elon Musk, CEO of Tesla Inc. and SpaceX, was thrust into the spotlight after his appearance on "The Joe Rogan Experience" podcast in 2018, where he was seen smoking marijuana. The incident led to significant fallout because marijuana is illegal at the federal level, despite the podcast being recorded in California where cannabis use is legal.
The federal government’s response necessitated Musk and his SpaceX team to undergo a year of random drug testing, a consequence of SpaceX’s federal contracts. Musk recounted the experience on the “Full Send” podcast, highlighting the broader implications for the company.
“The consequences for me and for SpaceX were actually not good because it’s federally illegal and SpaceX has federal contracts … so unfortunately it wasn’t just me, but the whole company [had] to have random drug tests,” he said.
Check out:
- Elon Musk has reportedly bought 6,000 acres of land just outside of Austin. Here’s how to invest in the city’s growth before he floods it with new tech workers.
- Investing in real estate just got a whole lot simpler. This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.
In January, The Wall Street Journal published a report alleging Musk’s use of a variety of illegal drugs, including cocaine, ecstasy, LSD, ketamine and psilocybin. Musk quickly denied these allegations, emphasizing his disinterest in illegal drugs. His lawyer Alex Spiro previously told WSJ that Musk was regularly subjected to random drug tests at SpaceX and “never failed a test.”
Musk has openly expressed his lack of interest in street drugs many times over the years. “Fortunately, I really don’t like doing illegal drugs,” Musk said in conversations with biographer Walter Isaacson as revealed in his 2023 biography.
Musk took to his social media platform X to address The Wall Street Journal’s claims and critique the publication’s integrity. He labeled the report as “comedy gold” and shared his commitment to transparency by revealing his agreement to “three years of random drug testing” following the Rogan podcast incident, which yielded no evidence of drug or alcohol use. Musk’s defense extended to a critique of the Journal’s journalistic standards, comparing them unfavorably to those of TMZ, a celebrity gossip outlet.
Amid these controversies, Musk maintained his focus on his companies’ achievements, pointing out his leadership in making Tesla the world’s most valuable car company and SpaceX the most valuable space company. He entertained the idea of drug use for productivity enhancement but concluded, “If drugs actually helped improve my net productivity over time, I would definitely take them!”
The Security and Exchange Commission's (SEC) investigation into Musk’s post about taking Tesla private at $420 a share added another layer to the public scrutiny Musk faced. The settlement with the SEC required Musk to step down as Tesla’s chairman and implement safeguards around his public communications. Despite these challenges, Musk has continued to be transparent about his experiences, sharing the personal and professional impacts of his public persona and regulatory scrutiny.
Through these episodes, Musk’s narrative reflects a complex interplay between personal actions, public perception and the operational realities of leading innovative companies under the watchful eye of federal regulations and media scrutiny.
Read next:
- Elon Musk may be adding “landlord” to his list of titles. Here’s how you can join him in his latest venture with as little as $500.
- Ken Griffin says Miami will take New York's place as the U.S. Financial Capital. Here's how you can invest in the city with as little as $500 before that happens.
Elon Musk Photo by Frederic Legrand – COMEO on Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.