Elon Musk’s reported use of illicit substances at parties, including LSD, cocaine, ecstasy, and magic mushrooms, has raised concerns among executives and board members of his various companies, as detailed in a recent report by The Wall Street Journal.
These alleged incidents, often accompanied by strict nondisclosure agreements or phone surrenders for attendees, have prompted worries about the impact on Musk’s leadership at Tesla and SpaceX. Despite Musk’s public admission of marijuana and ketamine use for depression, the potential implications of such drug use on key decision-making in publicly traded companies and SpaceX’s federal contracts are highlighted.
Musk is purportedly jeopardizing approximately $1 trillion in investor assets and tens of thousands of jobs, according to reports.
While Musk did not personally respond to the Journal’s inquiries, his spokesman, Alex Spiro, asserted that Musk undergoes regular drug tests and has never failed. Spiro acknowledged discrepancies in the story but did not specify them.
Despite Musk’s known eccentricities, a notable shift in behavior was observed in 2017 when he delivered a slurred and perplexing speech at a SpaceX event. Though there is no concrete evidence of substance use, concerns about Musk’s conduct arose. SpaceX President Gwynne Shotwell intervened to take over the address, described as “nonsensical,” “unhinged,” and “cringeworthy.”
Spiro contested the reported event’s accuracy, stating it was “false,” backed by numerous attendees, yet offering no specific details to the Journal.
In 2018, Musk faced repercussions for smoking marijuana on camera with podcaster Joe Rogan, causing a brief 9% drop in Tesla’s stock and a multi-billion-dollar company devaluation.
Executives were alarmed when Musk, amid concerns of potential drug influence, tweeted his intention to take Tesla private in 2018, triggering an SEC investigation into the statement’s accuracy.
Some close to Musk suggested he was on drugs during a subsequent emotional media interview, where he discussed the challenges of the past year. Musk has attributed his unconventional behavior to mental illness and sleep deprivation from overseeing his companies obsessively. While confirming his bipolar disorder in 2017, he mentioned not having an official diagnosis.
Musk openly shared on social media that he uses ketamine for depression and disclosed his Asperger’s diagnosis while hosting Saturday Night Live. His authorized biography described “demon-like” work outbursts, acknowledging his aversion to illegal drugs.
