The would need to crash another order of magnitude for anything to happen. Tesla’s stock is crazy overvalued even now and the only justification for the over-valuation is the track record and insane over-promises of Musk. That’s the reality as investors see it. They will still bet on him until they’re thoroughly convinced that he’s not the golden child anymore.
Yeah, so i drove my brothers brand new, fully loaded model X. That shit was sweet
With overvaluation its meant that they are the most valuable car manufacturer while having made the fewest cars (at least among the large ones and this is before tesla stock tanked)
Most of the stockvalue tessla has is made from musk generated hype, not from the company making cars.
I am not arguing about the car quality
I actually like Teslas, I just hate Elon more. Fuck that narcissistic piece of shit.
Removed by mod
until you hit a speed bump with the wrong vibe then it’s more fire than sweet, in a more literal than metaphoric way.
At what point will Tesla be ripe for a hostile takeover? We could rename it ‘woke’
My prediction is that musk will eventually step down blaming the terrorist left. He’ll use it for Twitter fodder for a while, then he will completely defeat the purpose by admitting on Rogan that he’s still getting all the money via a pass through person.
Why would he need a “pass through person”? Man, the ignorance of lemmings is incredible…
He’ll still own *the largest share of Tesla so it won’t change anything.
*Corrected my post but the point remains: he controls the company and their image to such a degree he has to be asked to step away, all in an effort to improve his fortunes primarily.
He doesn’t own Tesla. “Elon Musk Tesla CEO Elon Musk is the largest shareholder in Tesla. With over 410 million shares, Musk holds 12.8% of all Tesla shares.” https://www.investopedia.com/articles/insights/052616/top-4-tesla-shareholders-tsla.asp#%3A~%3Atext=and+State+Street.-%2CElon+Musk%2Cover+410+million+shares%2C+Musk+holds+12.8%25+of+all+Tesla+shares.%2C-4
Musk gets his money from Tesla, and somehow manages to control the company with his minority stake.
The stock holder confirmation of the insane bonus to Musk is evidence of that.
The other investors may be collateral damage. But that’s OK IMO, they support Elon Musk, otherwise they should have gotten out long ago.The wealth from Tesla is what gives Musk power.
I should have included this but yes, there is a whole court case about this: https://corpgov.law.harvard.edu/2018/04/23/elon-musk-and-the-control-of-tesla/
But he doesn’t own Tesla. I was mainly trying to focus on that point.
Though as others have mentioned he gets his wealth from many other sources. Small sourceless point but capital accumulation rarely occurs from ownership in a single company.
All true.
somehow manages to control the company with his minority stake.
… maybe his job as CEO at Tesla has something to do with that?
No I mean he controls the board too.
Yes. They all bought into the same bubble. Even if they want to fire him as CEO, they’re afraid of the loss in case Musk sells off his stock. The next board meeting will be interesting.
… I don’t think Musk is relying on tesla alone. He has money coming in from everywhere. Hence, all of his inspired businesses.
The problem is that he also has debt, a large part of which is secured by Tesla stock. If that stock took a nosedive to 10% of its previous value, the owners of said debt might come calling.
Lol yall love saying this about rich people you don’t like.
" BuT but aLl oF HiS DeBt!"
Yeah… it takes money to make money.
Tesla is a public company. The public owns it.
Wall Street has achieved communism. Wow. Never thought I’d see the day.
It’s a “publicly traded company”, not a “public company” - so a company where anybody who has the money to do so can buy shares in it, not a company owned by the state (which can be States, Regions, Municipalities, the Central Government and so on).
Since a “public company” is one oned by the state, in a Democracy that means every citizen owns part of it and all have an equal share of ownership (via their electoral vote they chose directly or indirectly who manages the companies owned by the state), whilst a “publicly traded company” is only owned by some amongst the public (those who bought shares in it, which can only happen if they had the money to do so) and the sizes of each owner’s stakes are highly uneven with a few owning far, far, FAR larger fractions of the company than the vast majority (so, not at all a democratic system).
Tesla must go down. So long as Musk’s wealth is tied to the company his influence will persist.
His real value is in SpaceX, unfortunately Tesla falling doesn’t hurt him much, he only owns 13% of Tesla, but has 42% in SpaceX with much greater voting power. He could take a golden parachute from Tesla, forget about it and use corruption to funnel US funds into SpaceX.
But one thing it does hurt severely… his ego.
fine, I won’t buy his rockets anymore, jeez.
All the bullshit he’s causing makes me really want to move to the middle of nowhere and become Sasquatch, but then I would have to subscribe to Starlink to receive memes :(
I think that Tesla stock was very heavily tied into the purchase of Twitter. I’m having trouble finding a source right now after Lutnik just encouraged Americans to buy Tesla stock.
So Tesla stock plummeting could have a huge influence on his ownership of Shitter.
SpaceX and Starlink next. I’m tired of funding his bullshit with my tax dollars.
Won’t someone please think of the investors?!
Why would Elon want to do that, just to prevent someone else of loosing money?
If he resigned, kept his stock, and it was led by someone who actually increased the share prices, he’d make a lot of money.
He is clearly someone who wants power more than money. Money is just a way to get more power.
