News

Billionaire Elon Musk: “Tesla will become the most valuable company in the world”

CEO Elon Musk expressed strong confidence in Tesla’s future when he declared that the company will become the world’s most valuable enterprise.

Billionaire Elon Musk , currently the world’s richest person, added $34 billion to his fortune in just one day on October 24, further cementing his position at the top of the 2024 billionaires list. His net worth skyrocketed after Tesla posted impressive earnings, sending the company’s stock price up 22%, marking its biggest gain since 2013.

Tesla’s latest quarterly report delivered a key piece of news investors have been waiting for: profits. The electric car giant posted its highest quarterly profit since mid-2023, rebounding from four straight quarters of disappointing results.

Despite the revenue miss, optimism was fueled by Mr. Musk’s confident forecasts that Tesla could record 20% to 30% growth in vehicle sales next year.

Tesla CEO Elon Musk’s fortune increased by $34 billion in just one day (Photo: AFP)

The real surprise, however, came from Mr Musk’s announcement that Tesla’s long-awaited Cybertruck electric pickup truck had finally turned a profit for the first time in quarterly sales, a milestone that investors saw as evidence of the company’s ability to innovate in overcoming manufacturing challenges.

With a net worth of $270.3 billion, Musk has widened the gap with the second-richest person, Jeff Bezos, by $61 billion. Tesla stock, which accounts for three-quarters of Musk’s net worth, is the main driver behind this extraordinary increase, although his investments in SpaceX, social media platform X, and AI project xAI have also contributed.

During a meeting with analysts, Musk laid out his vision for Tesla’s future: Dominating the electric vehicle market and beyond.

“My prediction is that Tesla will become the most valuable company in the world and will likely lead by a large margin,” Mr. Musk said.

 

Related Posts

Chase Anela Rolison T-Boz’s Daughter: A Glimpse Into The Life Of A Star Kid

T-Boz, one of the iconic members of the girl group TLC, has made a significant impact in the music industry. However, her personal life, particularly her role as…

Elon Musk: ”James Webb Telescope JUST DETECTED Planet With TERRIFYING City Lights!”

In a groundbreaking observation, the James Webb Space Telescope has detected an unusual glow on the dark side of Proxima B, sparking speculation that the faint light could…

Elon Musk: ”I Am Releasing Tesla’s FIRST Airplane & End All Competition ”

Tesla has taken a bold step into aviation, unveiling its first electric airplane, a pioneering vehicle that promises to transform air travel with zero emissions, supersonic speed, and…

Elon Musk: “The $299 Tesla Phone Will Be The End Of iPhone!”

Tesla has unveiled its latest innovation, the $299 PI Phone, a device poised to redefine the smartphone landscape with its affordability and cutting-edge features. Offering a strikingly lower…

Elon Musk: “I Confronted Oprah & Noticed Something Disturbing About Her!”

At a high-profile event, Elon Musk and Oprah Winfrey found themselves in a tense exchange that quickly became the evening’s focus. Musk, known for his straightforward and sometimes…

YouTuber tests Tesla Cybertruck’s wading ability: turns out Elon Musk’s claims are true….😱🤩

Although it can’t go underwater like a submarine, the Tesla Cybertruck’s ability to overcome flooded areas is truly impressive. The Tesla Cybertruck is very different from your average…

Leave a Reply

Your email address will not be published. Required fields are marked *