He's well on his way to being the world's first trillion dollar loser CEO. And he's going to do it in about 1 year.
What was Tesla's market value when he took over?
No clue, but it was $1.3 trillion in November 2021, which is $970 billion more than it is today with chief twit in charge of the company. They should go back to that old CEO, who wasn't a right wing nutjob.
A Tesla sedan with four people plunged nearly 250 feet off a cliff along Highway 1 at Devil's Slide in Pacifica, Calif. on Monday morning, injuring two adult...
DETROIT (AP) — With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit t...
Guinness World Record holder for losing almost $200 bil (and counting).
Guinness noted that although “the exact figure [of Musk’s loss] is almost impossible to ascertain,” with some outlets estimating that he lost more than $200 billion, the Twitter owner demolished the previous record: a $58.6 billion loss by Japanese investor Masayoshi Son in 2000.
Guinness World Record holder for losing almost $200 bil (and counting).
Guinness noted that although “the exact figure [of Musk’s loss] is almost impossible to ascertain,” with some outlets estimating that he lost more than $200 billion, the Twitter owner demolished the previous record: a $58.6 billion loss by Japanese investor Masayoshi Son in 2000.
Musk caught in another humiliating lie. So much in common with Trump. Apparently I'm a new user so I can't post links:
Davos organizers: Musk wasn’t invited despite what he says
DAVOS, Switzerland (AP) — The World Economic Forum says billionaire Elon Musk wasn’t on the guest list for the annual meeting of business executives, global leaders and cultural trend-setters in Davos, Switzerland — despite what the Twitter owner claims. Notables from European Union chief Ursula von der Leyen to actor Idris Elba are gathering in the ritzy Alpine town this week to talk about global issues ranging from war to climate change and technology’s effects on security. Musk wasn’t there, though he says he was invited. Forum spokesman Yann Zopf knocked that down Tuesday, saying the last time the Tesla CEO got an invitation was “not this year and not recently — last time in 2015.” Musk said in a tweet Dec. 22: “My reason for declining the Davos invitation was not because I thought they were engaged in diabolical scheming, but because it sounded boring af lol.” He didn’t specify when he got the invitation, but the tweet’s timing suggested it was for this year. Musk did not immediately respond to requests from The Associated Press for comment Tuesday.
Such a sad, pathetic desperation to be loved and admired.
Elon is a money-grubbing dork from South Africa who got lucky in Silicon Valley and knows which c*cks to suck. USA is sooooo lucky to have him. Don't forget: He is a "free speech absolutist." -- so long as he agrees with what you have to say. Funny how American Culture keeps producing these sociopaths, almost like they are on some sort of Federal Schedule. Next will be Elizabeth Holmes 2.0. She will figure out a way to become a billionaire by crowd-sourcing $$ enabling teenage girls to take a Greyhound to states where they can have a legal abortion.
Musk caught in another humiliating lie. So much in common with Trump. Apparently I'm a new user so I can't post links:
Davos organizers: Musk wasn’t invited despite what he says
DAVOS, Switzerland (AP) — The World Economic Forum says billionaire Elon Musk wasn’t on the guest list for the annual meeting of business executives, global leaders and cultural trend-setters in Davos, Switzerland — despite what the Twitter owner claims. Notables from European Union chief Ursula von der Leyen to actor Idris Elba are gathering in the ritzy Alpine town this week to talk about global issues ranging from war to climate change and technology’s effects on security. Musk wasn’t there, though he says he was invited. Forum spokesman Yann Zopf knocked that down Tuesday, saying the last time the Tesla CEO got an invitation was “not this year and not recently — last time in 2015.” Musk said in a tweet Dec. 22: “My reason for declining the Davos invitation was not because I thought they were engaged in diabolical scheming, but because it sounded boring af lol.” He didn’t specify when he got the invitation, but the tweet’s timing suggested it was for this year. Musk did not immediately respond to requests from The Associated Press for comment Tuesday.
Such a sad, pathetic desperation to be loved and admired.
It seems Twitter is only a few days away from total collapse, less than a month since Musk has been in charge. Is he the world's worst CEO? DISCUS
I know a guy who thought he was a businessman. He started and failed at more businesses than Donald Trump. This guy wasn't given a fortune to live off of, he was just a regular guy, but he absolutely sucked.
Tesla's' biggest problem is that yes, Elon is distracted, but the market is becoming aware that Tesla is a car company, is cyclical,,subject to interest rates, and must constantly refresh new models. Tesla has not had a new model in three years while competitors of all sorts are trying to catch up, particularly in China, as BYD makes more cars than Tesla and in many cases is 2/3's cheaper.
TSLA, along with BYD, cut prices to stimulate weakening demand, particularly in Covid lockdown China. TSLAs $7500 price cut angered recent buyers as used car values immediately dropped. The used car market in general is bad, so this event is unwelcome.
Despite the price drop, volumes still fell short.
TSLA is 24x earnings and its earnings quality has improved, as its warranty expenses are now recognized up front instead of smoothing these expenses. TSLA has benefited from numerous equity raises so its balance sheet is good, but the new shareholders must be disappointed. The current multiple is still a lot to for a car company. The drop in the stock is not all Elon's fault, as companies with very high price to sales ratios are often bad investments. Near zero interest rates before and during Covid allow big growth companies to get expensive.
Elon is lucky. He is lucky to get wealthy in the first place. He is also lucky that he broke SEC disclosure rules and paid little penalty.
And regardless of the political changes at Twitter, it was never a good internet business.
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