Tesla
Tech billionaire Elon Musk says he's off Twitter 'for a while'
Elon Musk overtook Amazon boss Jeff Bezos to become the world's wealthiest person last month, with a fortune estimated at $185 billion following a nine-fold...
New options on display at the all-digital 2021 Consumer Electronics Show underscore the changes in mobility during the global health crisis, with more personal vehicle use and less emphasis on sharing.
The brash Tesla CEO, now the world's wealthiest person following the electric automaker's meteoric rise, was the quintessential Silicon Valley disruptor - except he no longer lives in California.
A large chunk of his wealth comes from the 21% stake in Tesla, according to Forbes. Tesla shares, which went public at $17 a piece in 2010, rose as much as 3.5% in morning trade to a record high of $2,318.49.
Elon Musk, who is also the majority owner and CEO of the SpaceX rocket maker, receives no salary, only the options in his pay package. A full payoff of all tranches would surpass anything previously granted to US executives.
Musk has discussed opening a second US factory outside California in the past. In a tweet in February, he solicited comments on potentially opening a factory in Texas.
Shares in Tesla rose some six percent in early trade to lift the value of the fast-growing maker of electric vehicles to around $105 billion.
With a starting price of $39,900 (£30,892), the Cyber truck is less expensive than initially flagged but its polarising design could limit sales in a segment symbolic of a rugged, practical American lifestyle.
The actor star believed his brand new Model 3 crashed into a tree because the vehicle had manufacturing and design defects that he wasn't aware of when he bought it.
A number of new vehicles were unveiled at the 2019 London Motor Show, including two new Aston Martins, a special edition Rolls-Royce and Bentley models.
Musk had until the end of the day Monday to respond to an accusation by the Securities and Exchange Commission that he violated terms of a court-endorsed deal between him and the regulatory agency stating that he should avoid sending any tweet that could affect the price of Tesla shares.
Elon Musk announced the shift in the final moments of an earnings conference call on Wednesday night, saying Deepak Ahuja would be replaced by Zach Kirkhorn.
The billionaire behind Tesla and SpaceX late Tuesday put the spotlight on the a 1.8 kilometre tunnel created by his Boring Company for about $10 million.
Tesla did not immediately respond to a request for more details about the acquisition.
Elon Musk has agreed to pay a $20 million fine and step aside as Tesla’s chairman for three years to settle charges that could have forced his exit from Tesla.
The US Securities and Exchange Commission had charged Musk with securities fraud, alleging that he misled investors when he tweeted on 7 August.
The securities fraud agreement will come as a relief to investors, who had worried that a lengthy legal fight would only further hurt the loss-making electric car company.
Tesla expressed support for Musk on Thursday, saying the company and the board of directors ‘are fully confident in Elon, his integrity, and his leadership’.
Shares of the electric carmaker tumbled more than 6 percent on Friday to $263.24, with investors on edge after a tumultuous August during which Musk proposed.