But Musk’s April announcement of a $44 billion takeover bid for microblogging website Twitter (TWTR ) - ໄດ້ຮັບລາຍງານ Twitter Inc and the ensuing saga raised concerns. Many of Tesla’s fans and investors fear that Musk will focus less on the automaker.
Added to this are now glaring economic recession due to the rise in rates by the Federal Reserve to fight against inflation. Musk himself said recently that we were already in a recession even though technically that is not the case yet.
The billionaire also reiterated that recessions weren’t necessarily a bad thing.
“I think we probably are in a recession and that recession will get worse,” the billionaire ກ່າວວ່າ on May 16 during a virtual appearance at the recent All-In Conference held in Miami. “But you know, these things pass and then there will be boom times again.”
Tesla CEO added that the recession will “probably” last 12 to 18 months.
“It is usually the amount of time that it takes for a correction to happen.”
‘Zuck’ Is Only 17th “Recessions are not necessarily a bad thing. I’ve now been through a few of them. And what tends to happen is if you have a boom that goes on for too long, you get misallocation of capital. It starts raining money on fools. Basically, it’s like any damn thing gets money and I’m sure you’ve seen a few of those,” Musk said.
“So somebody gets just out of control. And you just have a misallocation of human capital where people are doing things that are silly and not useful to their fellow human beings,” he continued. “Watch your cash flow and get positive cash flow as soon as you can.”
Musk’s wealth peaked at $340.4 billion on Nov. 4, when Tesla shares reached a record high, according to Fortune .
A few days later, Tesla shares slumped after Musk ຊີ້ບອກ he could sell around 10% of his stake in the clean-energy carmaker.
He ບໍລິຈາກ more than $5 billion of Tesla stock to charity in November when the stock was well above $1,100, according to regulatory filings.
Musk remains by far the richest man in the world. There is a rift between him and Jeff Bezos, the founder of Amazon (AMZN ) - ຮັບລາຍງານ Amazon.com Inc , who is the second richest man in the world with a net wealth of $127 billion as of June 13.
Bernard Arnault, chairman and CEO of LVMH (LVMHF ) Moet Hennessy, whose net worth totals $121 billion, comes third.
Bill Gates is 4th with an estimated fortune of $114 billion, and Warren Buffett is 5th with a fortune of $103 billion.
Mark Zuckerberg, the CEO of Meta Platforms (META ) - ເອົາບົດລາຍງານ Meta Platforms Inc , the parent company of Facebook, whose fortune has shrunk by $64.4 billion since January, is only 17th with a net worth of $61.1 billion.