Elon Musk has once again become the world's wealthiest person, surpassing luxury tycoon Bernard Arnault. The shift occurred after shares of Arnault's LVMH dropped in Paris trading. Musk and Arnault have been in a close race for the top spot on the Bloomberg Billionaires Index this year. Recently, Musk slipped from the top wealthy man spot, but with Tesla's success his fortune is now $192.3 billion and regained the status.
Courtesy: The Free Press Journal
World's largest automobile company, owned by Elon Musk Tesla is making plans to hold a crucial meeting in India. As per sources, the company is scheduled to meet Indian government officials in Delhi and discuss to source materials for electric vehicles in India. Usually, the components for the electric vehicles of Tesla are taken from China, however, the plans look different this time. However, no official announcement has been made.
Courtesy: Hindustan Times Auto
Elon Musk, the CEO of electric vehicle manufacturer Tesla, sold 7.92 million shares of the business for around $6.88 billion. After Tesla's 2022 annual shareholder conference on August 4 in Austin, Texas, Musk's transactions took place between August 5 and August 9, according to US Securities and Exchange… read-more
Courtesy: Free Press Journal
In order to reduce 10% salaries of Elon Musk-run Tesla, the company laid off 229 annotation employees from its Autopilot team and closed one of its offices in the US. On July 13, Tesla laid off workers from its San Mateo office, which has over 276 workers. The remaining 47 employees may be sent to work in Tesla's Buffalo Autopilot office, yet to be confirmed.
Courtesy: Ahmedabad Mirror
In order to prevent damage to the vehicles, Tesla has verified that its vehicles can detect rough roads, such as potholes, and modify the suspension using the Tesla Adaptive Suspension technology. This is the first verification of Tesla vehicles scanning the roadways to assess their condition. This function will only be accessible in Tesla vehicles with adjustable suspensions, such as the latest Model S and Model X.
Courtesy: DNA India
Worldwide chip shortages and supply chain concerns have harmed EV quality across the industry. JD Power, a consumer research and analytics firm, ranks Polestar lowest, while Elon Musk's Tesla ranks seventh from the bottom. General Motors defies the trend by improving initial quality, bringing the company to the top of the automotive industry. Buick's quality improves, driving it to first position overall in 2022, while Genesis leads the… read-more
Elon Musk's transgender daughter has applied for a name change. In April, she petitioned the Los Angeles County Superior Court in Santa Monica for a name change and a new birth certificate indicating her new gender identification. "I no longer live with or wish to be related to my biological father in any way, shape, or form," she wrote. There was no rationale for Musk's daughter's estrangement from her father.
Tesla suggested a three-to-one stock split on June 10 to make its shares more accessible after previous sell-offs of the world's most expensive automaker. Tesla's stock increased more than 1% in extended trading on June 10. On August 4, shareholders will vote on Tesla's suggested stock split. The split would provide Tesla employees "have more flexibility in managing their equity" and make its shares "more accessible to our retail shareholders… read-more
Elon Musk hinted that a manufacturing plant will not be set up in India unless Indian government gives permission to sell and service imported Tesla cars in the country. Earlier, minister Nitin Gadkari had stated, Tesla is welcome to manufacture and sell Tesla cars in India, however, importing Chinese-made cars and selling locally is not a good "proposition". Musk also raised concerns about "high duties" for imported vehicles in India.
Following the big decrease in Tesla shares on May 24, Elon Musk's net worth suffered a setback. Following Tesla's downfall, the tech tycoon lost $12 billion from his net worth last week. In the midst of a 7% decrease in Tesla share prices, Elon Musk fell outside the exclusive $200 billion club, reducing his net worth to $192.7 billion as per the Bloomberg Billionaires Index.
Courtesy: Zee news