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Being the world’s richest person means having your every move scrutinised.
Then again, it’s not like Elon Musk shies away from the limelight and he often courts it via his odd Twitter posts.
He wants to know what your favourite cheese is, by the way, and is generally amazed by the “sheer variety” that exists.
Dairy-based musings aside, Musk enjoyed a very profitable Tuesday, with his personal fortune soaring by $14,5 billion thanks to a 9,4% rise in Tesla’s share price.
Forbes reports:
Analysts attributed Tesla’s outperformance to both comments by Musk and broader market factors…
In [an interview Musk granted to Bloomberg], he reiterated his concerns about a recession and the need to downsize Tesla’s workforce, but investors appear to have zeroed in on his comments downplaying the threat of competition, and identifying supply constraints as the main obstacle to fulfilling the company’s robust demand.
“As anyone knows who has tried to order a Tesla, the demand for our cars is extremely high and the wait list is long,” Musk told Bloomberg. “This is not intentional and we’re increasing production capacity as fast as humanly possible.”
Perhaps Musk could wait for some Tesla employees to write an open letter critical of his leadership and then fire them all. It worked at SpaceX.
As of earlier today, via the Forbes real-time billionaire tracker, Musk’s personal fortune sits at just over $228 billion:
That’s still quite a way down from late last year when he cracked the mythical $300 billion mark, making him the first person on the planet to reach that milestone, but he remains well clear of the chasing pack.
While it’s good news, for now, there is the chance that Tesla shares suffer a little down the line. GLJ Research CEO Gordon Johnson elaborates:
…he expects the company’s Q2 deliveries and earnings to disappoint. “Thus, with Tesla trading at a ~50x forward P/E multiple vs. 4.6x for its peer group, we see any fundamental disappointments as likely sending the shares lower.”
I’m sure that makes sense to some of you out there.
Musk’s children may also be buoyed by the fact that they’ll be sharing their inheritance with one less sibling, after his 18-year-old daughter applied to legally change her name and gender, saying she no longer wants to “be related to my biological father in any way, shape or form”.
[source:forbes]
