‘Varney & Co.’ host Stuart Varney reacts to a Wall Street Journal report detailing the Tesla CEOs drug habit.
Following allegations of illegal drug use, Tesla CEO Elon Musk defended his ketamine prescription as beneficial for investors in an interview with former CNN host Don Lemon.
In the video, which was posted Monday on X, Musk said the drug helps him manage a “negative chemical state” similar to depression. He argued that investors should not worry about his drug use so long as his companies continue to perform.
“From the standpoint of Wall Street, what matters is execution,” said Musk, who helms three corporations including the electric vehicle maker, the rocket company SpaceX and the social media company X. Musk stated that Tesla was worth as much as the rest of the car industry combined.
“For investors, if there’s something I’m taking, I should keep taking it,” he added.
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Musk is speaking out about his ketamine prescription. (REUTERS/Aude Guerrucci / Reuters Photos)
The wide-ranging interview also discussed politics, social media censorship and Tesla.
The Wall Street Journal published an in-depth report on Musk’s alleged drug use in January, detailing allegations that the billionaire had used drugs including LSD, cocaine, ectasy and psychedelic mushrooms at private parties around the world.
Attendees signed nondisclosure agreements or gave up their phones to enter, the Journal reported, citing sources who said they witnessed Musk using drugs or had knowledge of it.
The report raised concerns that Musk’s alleged use of illegal drugs could jeopardize billions of dollars worth of SpaceX contracts with the federal government. “Musk is intrinsic to the value of his companies, potentially putting at risk around $1 trillion in assets held by investors, tens of thousands of jobs and big parts of the U.S. space program,” the report said.
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Ketamine is a prescription drug issued to some patients to help with their depression. ( RJ Sangosti/MediaNews Group/The Denver Post via Getty Images / Getty Images)
One former Tesla investor, Linda Johnson Rice, reportedly became so frustrated with Musk’s volatile behavior and drug use that she did not stand for re-election to Tesla’s board in 2019, the Journal reported, citing sources familiar.
Musk responded to the Journal report on X in January, saying that he agreed to three years of random drug testing at the request of the National Aeronautics and Space Administration, which partners with SpaceX. “Not even trace quantities were found of any drugs or alcohol,” Musk said.
When Lemon asked Musk about his ketamine use, the billionaire said he had a doctor’s prescription and that the drug “is useful for getting one out of a negative frame of mind.”
Musk denied that he abuses the drug.
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Elon Musk, owner of Tesla and the X (formerly Twitter) platform, said he has a doctor’s prescription for ketamine and that he does not abuse the drug. (Beata Zawrzel/NurPhoto via Getty Images / Getty Images)
“If you use too much ketamine, you can’t really get work done, and I have a lot of work,” he said.
Ketamine, a hallucinogenic anesthetic drug, was first approved in 1970 as an anesthetic for use by medical doctors and veterinarians.
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The drug has been used to treat people suffering from depression who have not responded to other treatments.
The drug can be administered in multiple ways, but the primary methods are by nasal spray (esketamine) or IV infusions (ketamine).
Fox News Digital’s Melissa Rudy and Reuters contributed to this report.
