Mr Musk make the astonishing announcement via his Twitter account.
He said: “Deleted my Tesla titles last week to see what would happen.
“I’m now the nothing of Tesla. Seems fine so far.”
However, he later clarified that for legal reasons he is unable to give-up the title of company ‘President’.
Mr Musk added: “Legally required officers of a corporation are president, treasurer and secretary.
“Guess I have to keep the first one or it will confuse authorities.”
Despite the entrepeneur’s claim, Tesla’s investor relations page continue to list Mr Musk as chief executive.
The company didn’t respond to a request for comment.
Mr Musk was forced to step down as Tesla chairman and pay a $20million (£15.2million) fine to settle a fraud charge with the Securities and Exchange Commission (SEC), a US government agency.
It followed an August tweet in which Mr Musk suggested he had secured funding to take Tesla private.
Mr Musk replied “worth it” when asked about the Tweet, and its associated $20million cost, by another Twitter user.
Tesla is required to appoint an independent chairman by 13 November as part of the deal.
Last week, Tesla announced a $312million profit in July, August and September of this year.
Mr Musk claimed that during this period Tesla sold more cars than the entire of 2016.
After the announcement Tesla shared shot up by 12 percent to $324.50.
However Mr Musk has been involved in a number of controversies in recent months.
In September he was criticised after being filmed smoking cannabis whilst appearing on a the podcast of US comedian Joe Rogan.
Mr Musk is also being sued by a British diver involved in the Thailand Tham Luang cave rescue, after he was labelled “pedo guy” during a public spat with the Tesla boss.