"This past year has been the most hard and painful of my career", Musk told the Times, which cited people briefed on the matter as saying Tesla is working to recruit an executive to take some of the heat off of Musk.
Musk is also the founder of the infrastructure startup the Boring Co. and Neuralink, which is developing brain-machine interfaces to connect humans and computers.
Most of the company's board members have ties and relationships with Musk, but Elson and Gordon say they also have a fiduciary duty to all the other shareholders.
"The only way I could have meaningful discussions with our largest shareholders was to be completely forthcoming with them about my desire to take the company private", read his statement.
Entrepreneur Elon Musk has acknowledged exhaustion from overwork, as he deals with a reported probe by regulators into a plan divulged on Twitter to take his auto company Tesla private. The tweet said: "Am considering taking Tesla private at $420". But I was not on weed, to be clear'.
Musk himself said there was "no active search" and said he was not planning to resign his positions.
"There were times when I didn't leave the factory for three or four days - days when I didn't go outside", Musk said.
"They can have the job".
'Is there someone who can do the job better? "They can have the reins right now", he told the paper.More news: Rescuers help people in flooded Kerala
The report cited people familiar with the situation as saying Tesla has been trying to find another top level executive to help relieve some of the pressure on Musk.
In an interview with The New York Times, Musk said 2018 has been "excruciating for him", acknowledging efforts to ensure Tesla is meeting its production targets have taken a physical toll. I've had friends come by who are really concerned'. The figure was $419 and he rounded up. "There's a reason for the word 'stoned.' You just sit there like a stone on weed", he said.
Musk has also said on multiple occasions that Tesla would become profitable by the end of this year and would not need to raise additional funds, despite its increased cash-burn rate in recent quarters.
Kimbal officially married Christiana, the daughter of billionaire Sam Wyly, on April 7, but celebrated the event with around 300 guests at Greco-Roman ruins near Girona.
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Musk wrote the controversial tweet while on his way to the airport on August 7, according to the newspaper, which conducted an hour-long interview with the Tesla CEO.
He chose to round up to $US420 - a number that is code for marijuana. But his out-of-the-blue go-private announcement raised a huge ruckus and pushed Tesla's shares up 11 percent in a day, raising the company's value by $6 billion.
Taken unawares, the firm's board said this week that it has formed a special committee to consider going private.
The SEC reportedly served Tesla with a subpoena this week. In one recent Twitter tirade, Musk lashed out at a cave diver who participated in the dramatic rescue of 12 trapped boys in Thailand, levying unsubstantiated claims that the man was a "pedophile". Amidst all of this, he says he lives at the Tesla factory and misses his kids.