Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
3rd largest shareholder in Tesla has called for Musk to step down as CEO.
He's making numerous controversial moves at Twitter, which doesn't help - CEOs usually try to avoid controversy. Plus Twitter does seem to be in some real trouble - difficult to sort out how much is due to Musk's drastic changes and how much trouble he just bought into when he acquired it.
Then of course there's the fact that he's already sold over $40 Billion in Tesla stock this year, with no end in sight. And the Twitter crusade seems to be consuming a lot of his time and attention.
Of course at Tesla, you would think that after Musk being there for over 10 years, they've got periodically updated strategic plans in place and other senior officers to do most of the week to week decision-making to carry out the annual plan; so I at least question if Musk is really needed there all day, every day.
Four companies have passed Tesla in Market Cap in recent months, and Visa is very close for a 5th company.
Tesla is now the 10th largest company in the world by market Cap.
LVMH $365.40B is worth $70B less than Tesla, but it's CEO has surpassed Elon Musk as the world's richest man. Bernard Arnault (age 73) & family is now worth $23 Billion more than Elon Musk. Arnault founded LVMH on 3 June 1987 and it looks like he kept his stock in the company for all these decades.
The Arnault Family Group, owns nearly 50% of LVHM shares and more than half of its voting stock.
well a couple months ago I laid out where tesla will be in the future - I think I laid it out to 10 years and the only thing wrong with what I said is might not have been aggressive enough with the downfall. the rapidly declining market share, emergence of (good) competition and lack of exorbitant price supports are gonna drag it down. Like we aint never seen this before (hello IBM PC?)
TWITter is just a side biz that I dont participate in so if it fails - so be it. it will fail for the same reason facebook is - as the kids move on the adults lose interest and the NBT (next big thing) gets hot. Ever since we (yes we) invented 'online' it has moved un falteringly to liberal swill and I never see that ending.
Electrek is reporting that Tesla is imposing a hiring freeze and planning layoffs for the first quarter of next year. Apparently, even Tesla is running into some headwinds.
well a couple months ago I laid out where tesla will be in the future - I think I laid it out to 10 years and the only thing wrong with what I said is might not have been aggressive enough with the downfall. the rapidly declining market share, emergence of (good) competition and lack of exorbitant price supports are gonna drag it down. Like we aint never seen this before (hello IBM PC?)
Tesla is now out of the top 10 companies in the world by Market Cap having been surpassed by Exxon and Visa.
It is very likely to fall another five positions by next week.
Market Cap
$391.90 B Tesla
$391.61 B Tencent - China
$388.77 B TSMC - Taiwan
$385.23 B Walmart
$379.73 B JPMorgan Chase
$375.20 B NVIDIA
Toyota has a market cap under $200B and the other 57 companies around the world classified as automakers all have a market cap under $100B.
Elon Musk's personal weath as one of the world's centi-billionaires seems secure although the list could be reduced to 3 people by the end of the year.
Bernard Arnault & family $179.3B LVMH France
Elon Musk $147.2 B Tesla, SpaceX
Gautam Adani $126.9 B infrastructure, commodities - India
Jeff Bezos $106.0 B Amazon
Warren Buffett $104.1 B Berkshire Hathaway
Bill Gates $102.6 B Microsoft
Larry Ellison $100.3 B Oracle
Last edited by PacoMartin; 12-22-2022 at 01:12 PM..
I bought more TSLA stock today. I still view it as a sale on future growth.
*smiles* you may well be right. I think it's hard to predict the future very far out in this rapidly evolving segment. That said, Tesla has some very good fundamentals relative to most competitors - with their batteries, their motors, their manufacturing technology, and their charging network. No telling how long this will remain true, but for the time being, I don't see Tesla falling very far. Even if BYD continues coming on strong, you've got a rapidly expanding market, so there's room for more than one winner, i.e. for a few more years at least, they can both expand sales rapidly.
On the one hand in the first 10 mos of 2022, new Tesla registrations in the USA are up 50% versus the same period in 2021 - there's certainly nothing wrong with that.
On the other hand, Tesla's stock is down this year, and Musk is talking about layoffs next quarter. It's a little difficult to make sense of it all, as Musk is not one for transparency in corporate communications.
There are some rumblings that BYD is making inroads in sales versus Tesla in China - outpacing them in unit sales, though I doubt in revenues. China is actually a more important EV market than the USA.
"China EV sales surged 71% in November to a record high, with Tesla (TSLA) reportedly delivering a record 100,291 China-made electric vehicles while trailing BYD (BYDDF)... Some 113,915 vehicles of BYD's November total were all-electric vehicles, up 147% vs. November 2021."
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
