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

Beulah Elizabeth Richardson – known professionally as Beah Richards, was an American actress and writer.

Beulah Elizabeth Richardson was 𝐛𝐨𝐫𝐧 in Vicksburg, Mississippi, on 12 July 1920. Her father, Wesley R. Richardson, was a Baptist minister; her mother, Beulah Molton Richardson, was a…

Alberta Hunter – This music biography portrays the life of the legendary blues singer and songwriter.

Alberta Hunter (April 1, 1895 – October 17, 1984) was an American singer-songwriter. She sang blues and jazz music. She was especially popular in the 1920s and 1930s….

“One of the Most Beautiful Women in America” ​​- Ethel Moses: The Black Jean Harlow

Ethel Moses was an American stage and film actress and dancer. She was known as the “Black Jean Harlow”. Moses is best known for her work in Oscar…

Nichelle Nichols: The Life and Legacy of a Pioneer

The woman who captivated the world with her portrayal of Lieutenant Nyota Uhura on Star Trek’s original series was 𝐛𝐨𝐫𝐧 to Lishia and Samuel Nichols in Robbins, Illinois, on December…

Jester Joseph Hairston was an African American composer, songwriter, arranger, choral conductor and actor.

Jester Joseph Hairston (July 9, 1901 – January 18, 2000) was an American composer, songwriter, arranger, choral conductor and actor. He was regarded as a leading expert on black spirituals and choral music. His…

The Brothers Johnson – A funk and R&B band that achieved fame from the mid-1970s to early 1980s.

The Brothers Johnson were an American funk and R&B band consisting of the American brothers George (“Lightnin’ Licks”) and Louis E. Johnson (“Thunder Thumbs”).[1] They achieved their greatest success from the mid-1970s to early 1980s,…

Leave a Reply

Your email address will not be published.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