Elon Musk Announces Tesla is Bankrupt in April Fools' Day Tweet

CEO of Tesla, Elon Musk took to Twitter announcing the electric vehicle manufacturer had gone bankrupt.
Jessica Miley

Elon Musk’s April Fools' Day joke of pretending Tesla has gone bankrupt is a little close to the bone. This morning the Tesla CEO sent a tweet saying, “Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally bankrupt.” 

A follow-up post included a photo of Musk and a message that he “was found passed out against a Tesla Model 3, surrounded by ‘Teslaquilla’ bottles, the tracks of dried tears still visible on his cheeks.” The joke may have fooled some as Tesla is experiencing some fairly serious financial trouble. 

Tesla sheds value in March

Tesla shares shed value in March, despite the popularity of Tesla electric vehicles, the company has not managed to create a model for sustainable profit.


In other rough news for the company, they have confirmed that the vehicle involved in a fatal crash last week was in autopilot mode at the moment of collision. 

“The driver had received several visual and one audible hands-on warning earlier in the drive and the driver’s hands were not detected on the wheel for six seconds prior to the collision,” the company said in a statement. This is the second fatal crash that has occurred with the feature turned on, leasing some experts to questions the car makers ability to maintain customer confidence. 

123,000 Model S vehicles recalled

That’s not all the bad news for Tesla. Earlier this week the experimental car company announced its biggest recall to date. Issuing a statement that it was taking preemptive measures on 123,000 Model S vehicles built before April 2016 and recalling the cars due to a power steering problem. 

Elon Musk Announces Tesla is Bankrupt in April Fools' Day Tweet
Source: Tesla

Tesla says that no crashes caused by the fault have been reported. In an email to customers, Tesla said it had “observed excessive corrosion in the power steering bolts.” It went on to say the problem was more common in cold climates where salt is used on roads to melt snow. 

The recalled vehicles will be given a parts retrofit. The upgrade is expected to take just an hour to complete. 

Owners of the affected cars were told by Tesla they do not need to stop driving their car if they haven’t already experienced problems. But that is not the end of the misery for Tesla. 

Class action given green light

In another blow, a Delaware judge has refused to dismiss a class action by Tesla shareholders against chief executive officer Elon Musk about the purchase of solar-energy firm, SolarCity.

The plaintiffs argue that Musk used his influence and reputation to make the conditions of the sale occur. 

They claim the board breached its duties to shareholders in approving the SolarCity deal. SolarCity was founded by Musk’s cousins and he was the biggest shareholder at the time of the sale. Despite all the trouble Tesla and Musk are experiencing if his Twitter is to be believed, he is maintaining his sense of humor.

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