Tesla shares News

Tesla New CEO: Billionaire Elon Musk has been put in charge of the Department of Government Efficiency (DOGE), a team focused on cutting federal spending and making sure all US government departments work more efficiently. 

Tesla shares are at their lowest in two years. Musk loses Rs 2,500 crores each day between 2017 and 2022. As of today, November 22, Musk has $170 billion in net worth.

Much of Musk's wealth is held in shares of Tesla, which does not pay him a cash salary. "I only have stock, thus the only way for me to pay taxes personally is to sell stock," Musk tweeted.

Tesla said it delivered 184,800 vehicles globally during the first quarter of 2021, above estimates of 177,822 vehicles, according to Refinitiv data. Tesla`s $668 billion market capitalization makes the company by far the most valuable carmaker, even though its production is a fraction of rivals such as Toyota Motor Corp, Volkswagen AG and General Motors Co.

Amazon's founder Jeff Bezos has regained his numero uno position after losing it to Musk, as per the Bloomberg Billionaires Index. Shares in Tesla were set to plunge into the red for the year on Tuesday, hit by a broad selloff of high-flying technology stocks and the fall of bitcoin. Musk had also tweeted that the company's Model Y Standard Range SUV would still be available "off the menu," backing up reports from electric vehicle news site Electrek that the model had been removed from its online configurator.

Tesla shares stumbled after its eccentric CEO Elon Musk tweeted on Friday that the company’s stock price was “too high”, triggering a free fall in stock prices.