The automaker is on track to meet its goal of selling 500,000 units this year, analysts say, with increased demand in China and the US helping spur the continued trend. What's almost certain to continue, though, is Tesla and SpaceX's growth. In moving to Texas, he'll be joining a growing cohort of former Californians and Silicon Valley expats in a long-running exodus to the Lone Star State that's only been intensified by pandemic-induced work-from-home orders. It's not clear where, exactly, in Texas Musk may be calling home.
and then we've got big factory developments just outside of Austin for Giga Texas."īeyond the symbolism following a spat with local health regulators, the move could save Musk a pretty penny on income taxes. "We've got the Starship development here in South Texas where I am right now. "For myself, yes, I have moved to Texas," Musk continued. There used to be over a dozen car plants in California, and California used to be the center of aerospace manufacturing. Space X is the last aerospace company still doing significant manufacturing in California. "In fact, it's worth noting that Tesla is the last car company still manufacturing cars in California. "Tesla and SpaceX obviously have mass operations in California," Musk said at a conference hosted by The Wall Street Journal in early December. Yet despite the small salary, Musk was still the world's highest-paid executive last year thanks to a highly complex compensation package that awards him tranches of stock options when Tesla achieves increasingly difficult stock, revenue, and profitability performance metrics.Īnd by the end of the year, Musk made good on earlier threats - at least in part - by moving himself and his charitable organization from California to Texas.
"Some people think I have a lot of cash," Musk told a major investor, Cathie Wood, on a podcast last year. That's a 689% increase since January 1, and a massive tailwind for Musk, who, with an 18% stake, is easily its largest shareholder.īut his small salary, at least on paper, left Musk, in his own words, "cash poor." Like plenty of other well-to-do C-suiters, he still relies on mortgages and credit for daily life.
Already the world's most valuable automaker, Tesla was worth nearly $645 billion with only one trading day left in the year. Tesla's stock price, the biggest source of 2020 gains for Musk, soared to new heights this year. This is particularly salient for Musk, whose coffers swell and shrink virtually in-step with Tesla's equity value, while he takes the minimum legally allowed salary from Tesla. We monitored bimonthly dates in an effort to avoid exaggerating the extreme peaks and drops in estimations of Musk's wealth, as many billionaires gain or lose billions of dollars in a single day thanks to fluctuations in stock prices.
0 kommentar(er)
