Friday September 20, 2019
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James Murdoch Isn’t Taking Over Tesla: Elon Musk

Musk is still the CEO of Tesla.

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Elon Musk, CEO of SpaceX and Tesla. Wikimedia Commons

Tesla CEO Elon Musk has denied that James Murdoch, the younger son of media mogul Rupert Murdoch, is going to replace him at electric car maker Tesla.

Reacting to a Financial Times report that claimed James Murdoch was going to join Tesla as Chairman, Musk tweeted on Thursday that this was not true.

Tesla CEO Elon musk
Elon Musk agrees to step down as Chairman (VOA)

“This is incorrect,” tweeted Musk, reacting to the report.

James Murdoch, who serves as a director on Tesla’s board, is set to end his innings as 21st Century Fox’s CEO.

Media reports have also thrown names like former Vice President Al Gore and Jim McNerney of Boeing as potential candidates to lead Tesla.

tesla, maezawa, elon musk
Tesla has become the most valuable American carmaker, with its stock worth more than $50 billion. Pixabay

Coming under pressure from his lawyers and investors of Tesla, the tech billionaire on September 29 agreed to step down as Tesla Chairman for three years and paid a $20 million fine, in a deal with the US stock market regulatory authority, the Securities and Exchange Commission (SEC), to resolve securities fraud charges.

Also Read: Tesla Launches a New Programme That Lets You Send Images Into Space

Tesla paid another $20 million to the SEC, despite not being charged with fraud.

Musk is still the CEO of Tesla. (IANS)

Next Story

Paytm To Invest Rs.250 Crores For Its Travel Business

Digital payments firm Paytm on Thursday announced to invest Rs 250 crore in its travel business over the next six months to scale up product and technology team for new business

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Paytm, Business, Travel, innovation, money
The company has chosen Bengaluru as the base of operations for its travel Business with a teame of over 300 members. Pixabay

Digital payments firm Paytm on Thursday announced to invest Rs 250 crore in its travel business over the next six months to scale up product and technology team and set up new business verticals.

According to the company, owned by One97 Communications, it has sold over 100 million tickets within just three years of operations.

“We continue to witness strong growth in tier 2 and 3 cities, which accounts for over 65 per cent of our new customers. This investment will help us further bolster our position as a dominant player in the travel booking space,” said Abhishek Rajan, Senior Vice President at Paytm Travel.

The company claimed that it sells more than six million travel tickets every month and is targeting to grow by 100 per cent in the current financial year.

Paytm, Business, Travel, innovation, money
Paytm Travel has launched several product innovations like free cancellation that starts as low as Rs 99 for flights and Rs 9 for bus. Wikimedia Commons

With a customer base of more than 15 million and annual GMV of $1 billion, Paytm has quickly risen to become a leading online travel booking destination in India.

Since its inception, Paytm Travel has launched several product innovations like free cancellation that starts as low as Rs 99 for flights and Rs 9 for bus, zero cancellation-processing fee on flight tickets and instant refunds among others.

ALSO READ: Google Announces a Slew of Products- AI Lab, BSNL Partnership

“Our users have saved more than 60 crore from our free cancellation feature on flight and bus ticket bookings,” added Rajan.

The company has chosen Bengaluru as the base of operations for its travel Business with a teame of over 300 members. (IANS)