Tesla’s Musk becomes world’s second richest person: report

[Teh One Who Knocks]

By Edmund DeMarche | FOXBusiness


https://i.imgur.com/LyT4i16l.jpg

Elon Musk’s personal wealth seems like it’s flying higher than a SpaceX rocket.

Bloomberg reported Monday that Musk, the CEO of Telsa, surpassed Bill Gates to become the world’s second richest person behind Jeff Bezos.

The report said a rally by Tesla on Monday earned Musk about $7.2 billion, bringing his new net worth to $127.9 billion.

The report said that Gates’ net worth would be higher but he has donated vast sums of money to charities over the year, including $27 billion to his Gates Foundation.

Last week, it was reported that Tesla will be added to the S&P 500 index on Dec. 21. Tesla shares jumped nearly 14% in after-hours trading after the announcement.

Tesla shares have soared 387.8% this year as the company is finally making money on a consistent basis after years of losses and continues to hit milestones for deliveries of its vehicles. Tesla earned $331 million in the third quarter on revenue of $8.77 billion.

Tesla shares could double as global electric vehicle demand ramps up over the next five years, according to one Wall Street analyst.

The Associated Press contributed to this report

[lost in melb.]

For now :meh:

[Muddy]

For now :meh:

Who you got? :hand:

[PorkChopSandwiches]

So crazy, Tesla cant really have the value out on it

[DemonGeminiX]

:-k

Maybe he'll give me a million dollars if I ask really nice and say please.

[Godfather]

So crazy, Tesla cant really have the value out on it

I'm kinda waiting for the entire electric car industry to have it's .com bubble burst, it's getting so stupid. Not to say I don't think electric cars are the future, but the stock prices are grossly inflated, and not just Tesla's. I might like like an idiot in 5 years for saying that, but I doubt it.

[DemonGeminiX]

I'm kinda waiting for the entire electric car industry to have it's .com bubble burst, it's getting so stupid. Not to say I don't think electric cars are the future, but the stock prices are grossly inflated, and not just Tesla's. I might like like an idiot in 5 years for saying that, but I doubt it.

Maybe, maybe not. I don't think the tech is entirely there to make it a viable alternative to gas vehicles right now, especially when talking about long road trips, but who knows what'll happen in 5 to 10 years?

[Godfather]

Maybe, maybe not. I don't think the tech is entirely there to make it a viable alternative to gas vehicles right now, especially when talking about long road trips, but who knows what'll happen in 5 to 10 years?

I agree on the tech, I have a friend or two with Tesla's and they love them, neat vehicles and as a daily commuter they seem solid.

I'm more just talking about these EV stocks though. The valuations are insane. Tesla profoundly overvalued, their price to sales ratio is something like 13.5x. Toyota, GM and BWM are all under 0.75. Maybe, as they claim, they shouldn't be compared to other auto companies and should be compared to techs like Zoom and NVIDIA where those numbers make more sense, but I don't really see why.

Nikola stock and Nio also both look overvalued, as does a local company in Vancouver people are hyped about, ticker $SOLO.

I think a reality check must be coming to EV stocks, they're just sexy with idiots trading on Robinhood right now.

[DemonGeminiX]

I agree on the tech, I have a friend or two with Tesla's and they love them, neat vehicles and as a daily commuter they seem solid.

I'm more just talking about these EV stocks though. The valuations are insane. Tesla profoundly overvalued, their price to sales ratio is something like 13.5x. Toyota, GM and BWM are all under 0.75. Maybe, as they claim, they shouldn't be compared to other auto companies and should be compared to techs like Zoom and NVIDIA where those numbers make more sense, but I don't really see why.

Nikola stock and Nio also both look overvalued, as does a local company in Vancouver people are hyped about, ticker $SOLO.

I think a reality check must be coming to EV stocks, they're just sexy with idiots trading on Robinhood right now.

*Takes notes and fires up Robin Hood*

8-[

[FBD]

I agree on the tech, I have a friend or two with Tesla's and they love them, neat vehicles and as a daily commuter they seem solid.

I'm more just talking about these EV stocks though. The valuations are insane. Tesla profoundly overvalued, their price to sales ratio is something like 13.5x. Toyota, GM and BWM are all under 0.75. Maybe, as they claim, they shouldn't be compared to other auto companies and should be compared to techs like Zoom and NVIDIA where those numbers make more sense, but I don't really see why.

Nikola stock and Nio also both look overvalued, as does a local company in Vancouver people are hyped about, ticker $SOLO.

I think a reality check must be coming to EV stocks, they're just sexy with idiots trading on Robinhood right now.

its one of those things where if they lost any significant % of subsidies then they'd actually be in trouble....funny money has been the only thing that made this industry exist