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.
Would people stop actions against Tesla in that case though? I am hoping we can destroy his wealth, so while him being CEO is a relevant factor, it’s far from the only one.
My attitude is that putting money in Elon’s bank account in any way is funding evil, corrupt, and stupid people getting into office all over the world.
If he resigned and divested, maybe. He won’t, but maybe.
Give it 3 months.
Once it blows over they’ll recover. There’s too many examples of other industries doing exactly that… Hell, even Activision Blizzard, famous for Bill Cosby suite, breast milk thiefs, CEO threatening to have his secretary assassinated, sucking up to China etc etc.
People swore off to never touch them again, but they’re one cinematic away from being back in the game.
With cars, not everyone can afford new one, so your sample size is much much smaller, easy to “boycott” something you weren’t going to buy.
We’re under no illusion, people online just want to be part of a movement. But statistically, 80% of people were never going to get one to begin with. And I’m being generous with their marketshare.
With Activision Blizzard, anyone can say “Yeah, fuck those guys!” then buy the latest game when it releases, and nobody is the wiser.
With Tesla, they’re getting vandalized on the streets. Insurance rates are hiking. It has social stigma attached. You can’t buy a Tesla and hide the fact that you have it. It comes with social backlash.
Even the folks who had no intention of buying one can contribute to that public sentiment, and as long as that social backlash remains, it’ll be effective at dissuading people from buying them.
Tesla’s problem is that it fundamentally isn’t in a good place even without Musk’s recent infamy. It’s no longer the only game in town and it’s become common enough that it’s unable to just rely on glowing reviews from true believers to gloss over manufacturing flaws, bad design, and frequent recalls. Musk and the negative consumer sentiment (particularly among their core market) have really accelerated the fall, but clouds started gathering when they missed earnings projections well before any boycotts were organized.
Tesla must go down. So long as Musk’s wealth is tied to the company his influence will persist.
SpaceX and Starlink next. I’m tired of funding his bullshit with my tax dollars.
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.
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…
I know, right? Such ignorance. Arrogance, too, I’d say
It’s a meme coin. Whether or not they sell cars is irrelevant (don’t invest in Tesla).
Edit: The share price was 407 5th of November 2021.
Tesla stock underwent a total of 2 stock splits.
The most recent stock split occurred on August 25th, 2022.
One TSLA share bought prior to August 31st, 2020 would equal to 15 TSLA shares today.
$27.13 a share then?
Edit: . To ?
Seems like the opposite, on August 11, 2020, Tesla’s share price was trading at over $1,450 per share in pre-market trading, the company executed a five-for-one stock split on August 31, 2020. This means that for every share an investor owned before the split, they would own five shares after the split
Thanks for clearing that up for me.
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
I actually like Teslas, I just hate Elon more. Fuck that narcissistic piece of shit.
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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
until you hit a speed bump with the wrong vibe then it’s more fire than sweet, in a more literal than metaphoric way.
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.
Sure it would.
Tesla is a public company. The public owns it.
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).
Wall Street has achieved communism. Wow. Never thought I’d see the day.
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You’re on a roll, braniac
At what point will Tesla be ripe for a hostile takeover? We could rename it ‘woke’
“Chainsaw!”
No. Don’t step down you Nazi pig. Ride this wage right down to bankruptcy. I do not want you to resign, keep your shares and earn more from it. You deserve nothing.
Please stay on as CEO. I suggest everyone sell their Tesla shares. Not financial advice, but fuck f’elon, sell your stock.
Won’t someone please think of the investors?!
Please
Give a month will yah? I got puts at 170
