Tesla Sales Boosted by Subsidy Expiration, Musk's Wealth Hits $500B
Tesla's sales dynamics have been influenced by various factors, including the expiration of state subsidies and Elon Musk's political associations. Meanwhile, Musk's wealth has soared, with his net worth recently surpassing $500 billion.
Tesla's sales may have received a boost after state subsidies for electric car purchases expired in late 2021. However, Musk's proximity to former US President Donald Trump in his early days in office was rumoured to have positively impacted Tesla's sales. This relationship soured later, with threats of cutting government funds for Musk's companies.
Musk's wealth, primarily from Tesla and SpaceX shares, is estimated at around $150 billion more than Oracle co-founder Larry Ellison. His net worth reached an unprecedented $500 billion, making him the first person to do so. Musk's wealth is estimated more strongly than others due to many of his companies not being listed on the stock exchange.
Musk's right-wing political views and role in Trump's government actions may have deterred potential buyers, leading to weakened Tesla sales. Despite this, Musk convinced investors that Tesla can find new growth with robotaxis and robots, driving up the company's stock value.
Tesla's sales have been influenced by a mix of external factors and Musk's political associations. Despite challenges, Musk's wealth continues to grow, with his net worth recently reaching a historic milestone. The upcoming shareholders' meeting in November will discuss a proposal that could see Musk receive up to 423 million shares, contingent on Tesla achieving specific business milestones and market capitalization targets.
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