Tesla Shorts’ $8 Billion Loss Supercharges Elon Musk With $4 Billion – CCN.com

Tesla Shorts’ $8 Billion Loss Supercharges Elon Musk With $4 Billion – CCN.com

Elon Musk
Since mid-last year, Tesla’s stock is up by nearly three times raising the market cap to close to $100 billion.In 2020 the stock is up nearly 30%, boosting Elon Musk’s wealth by over $4 billion.New models and expansion into China could boost Tesla even further.Since his musician girlfriend Grimes teased a baby bump, Elon Musk has another bump to report too – a wealth bump.Fifteen days into 2020, the Tesla (NASDAQ:TSLA) CEO’s stake in the electric car maker has swelled by an average of $250 million per day to $2.5 billion! Consequently, Musk is now a member of the Bloomberg Billionaires Index’s top 30 club. He now sits in the 27th position up six places from the 35th position that he held at the close of 2019.For a good part of 2019, Elon Musk was the world’s 35th richest person but has now moved up eight places up.How big is Elon Musk’s stake in Tesla?Elon Musk currently holds 34, 085, 560 shares in Tesla. After a bumpy first half, the electric car maker closed 2019 at $418. Since the year started, the stock is up nearly 30%.Tesla stock price chart | Source: TradingViewFifteen days into 2020, Musk’s stake has grown ....


Over the same period, Tesla has added over $50 billion to its market capitalization.Why does the Tesla stock keep accelerating?Since mid-last year when the stock of the electric car maker hit a two-year low of $177, Tesla has rebounded strongly to settle above $490 as of Wednesday’s close. This is gain of over $170% in about seven months.Tesla’s massive stock growth has come amidst a variety of positive developments for the electric car maker. Chief among these include Tesla’s successful expansion in China.
After breaking ground early last year, Tesla recently delivered the first vehicles made at the Shanghai factory.As the plant readies for full production, this is expected to boost sales significantly as the Chinese made vehicles will be significantly cheaper in the world’s largest EV market. For instance, tax breaks and subsidies offered domestically-produced EVs reduce the price of a Model 3 by nearly $20, 000.Source: TwitterNew markets, new modelsThough the Shanghai factory is Tesla’s first plant outside the US, the electric car maker is also planning on opening others including in Berlin.Since mid last year, Tesla has also announced new products including the Cybertruck. .

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