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News on Medial
Meet the Tesla diehards sticking with the stock despite its disastrous year
Livemint
·
1y ago
Medial
Individual investors have remained committed to Tesla despite recent stock market declines. Many are drawn to the company's technology and CEO Elon Musk's vision, even though Tesla shares have fallen nearly 40% this year. Estimates suggest that individual investors have invested a net $5.9 billion into Tesla in 2024. While some investors are considering selling their shares due to frustration with stock declines and design choices, others are sticking with their investments and taking advantage of the lower valuation. Tesla remains a controversial stock among analysts, with varying opinions about its future prospects.
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Tesla’s boss Elon Musk is biggest billionaire loser in 2024, remains the richest in the world with net worth of…
Livemint
·
1y ago
Medial
Elon Musk, the CEO of Tesla, has experienced the largest decline in net worth among billionaires worldwide in the first half of the year, despite a booming stock market. According to Forbes' estimates, Musk's net worth dropped from $251.3 billion to $221.4 billion. This decrease is attributed to a decrease in the value of Musk's Tesla stock, as the company's shares fell 20% due to declining profits and car deliveries. Despite this decline, Musk remains the richest person in the world.
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Tesla’s first-quarter vehicle sales fell as EV market cools
Livemint
·
1y ago
Medial
Tesla reported its first year-over-year decline in quarterly deliveries since 2020, delivering 386,810 vehicles globally in Q1 2024, down 8.5% from the previous year. This is the lowest quarterly performance for Tesla since Q3 2022. Despite the decline, Tesla regained its position as the world's top EV seller on a quarterly basis. However, the result highlights concerns about the broader electric-vehicle market, as growth slows and consumer enthusiasm for electric vehicles wanes. Tesla's stock fell about 6% in premarket trading and is down nearly 30% this year. The decline is partly attributed to production setbacks, including supply chain disruptions and an arson attack on the grid supplying power to the factory.
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Demand for Nvidia's chips is so high that Jensen Huang had to assure analysts the company is allocating them 'fairly'
Business Insider
·
1y ago
Medial
Nvidia, a prominent chip stock, is struggling to meet the high demand for its AI chips. CEO Jensen Huang reassured analysts that the company is allocating fairly and avoiding unnecessary distribution of chips. With various industries embracing AI technology, Huang emphasized the importance of avoiding waste and connecting partners and end-users. Despite concerns of potential overvaluation, Nvidia reported exceptional financial results, with revenue reaching $22.1 billion. The company's stock has more than doubled in the past year, increasing 9.1% after-hours following the announcement.
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Tesla skips employees' yearly merit-based stock compensations
Economic Times
·
1y ago
Medial
Tesla skipped employees' yearly merit-based stock compensations. It appears that Tesla has decided not to offer stock-based compensation to its employees this year. The decision is said to have been made due to the company's desire to focus on other matters, and it is unclear whether this decision will impact future years as well.
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Dream11 CEO slams Tesla for refunding $1,000 fee; says, 'Tesla is turning all its fans in India into haters'
IndianStartupNews
·
1m ago
Medial
Dream11 CEO Harsh Jain criticized Tesla for refunding the $1,000 reservation fee he paid in 2017 for a Model 3 in anticipation of its India launch. Jain expressed disappointment on social media, highlighting the lost opportunity had he invested that amount in Tesla stock instead. Despite his frustration over the refund and cancellation after eight years, Jain remains a Tesla enthusiast, hoping for an option to purchase the first Tesla available in India.
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Tesla's India Investment: Key ministries collaborate for swift entry of EV maker
Livemint
·
1y ago
Medial
The Indian government is fast-tracking the approval process to welcome Tesla to India by January 2024. The Prime Minister's Office has held a meeting to discuss Tesla's investment proposal and prioritized expediting approvals. Key ministries including commerce and industry, heavy industry, and electronics and IT have been collaborating on Tesla's plans. Tesla executives have engaged with the Indian government to establish manufacturing facilities and bring their supply chain ecosystem to India. Sticking points include import duty reductions, but a new proposal may introduce lower taxation for clean energy-driven vehicles.
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Elon Musk and Tesla’s $30 trillion AI supersonic tsunami
Livemint
·
11d ago
Medial
Tesla CEO Elon Musk highlighted the company's massive AI investments, focusing on robotics and self-driving car technology, during a virtual appearance at the Tesla Owners of Silicon Valley 2025 event. Despite recent stock volatility, Musk shared ambitious AI-driven visions for Tesla's future, aiming at significant industry impacts.
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Mark Zuckerberg moves ahead of Elon Musk on richest person list as Tesla falters
Business Insider
·
1y ago
Medial
Mark Zuckerberg has climbed to become the third richest person on the Bloomberg Billionaires Index with a reported net worth of $187 billion. Meanwhile, Elon Musk, the Tesla CEO, has fallen to fourth place with a fortune of $181 billion. This comes as Tesla reported its first year-over-year sales drop in nearly four years and its stock is down more than 34% since the start of 2024. Zuckerberg, who has an additional $30 billion in the bank, is nearing the wealth of Amazon founder Jeff Bezos, who is currently in second place on the index.
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Now, Rajasthan Joins The Race To Attract Tesla India Plant
Inc42
·
1y ago
Medial
Tesla executives have reportedly met with the government of Rajasthan, India, as they search for a suitable location to set up manufacturing facilities in the country. Other states, including Gujarat, Tamil Nadu, and Maharashtra, are also in the running. Tesla CEO Elon Musk is visiting India on 21-22 April, where he is expected to meet with Prime Minister Narendra Modi and make major announcements regarding Tesla and Starlink. Additionally, Musk will meet with spacetech startups during his visit. India recently introduced a policy to incentivize EV manufacturers to establish manufacturing plants in the country.
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Tesla CEO Elon Musk donates shares worth $100 million to charities | Company Business News
Livemint
·
7m ago
Medial
Tesla CEO Elon Musk donated 268,000 Tesla shares, valued at approximately $108.2 million, to undisclosed charities as part of "year-end tax planning." This continues his trend of significant year-end donations, including $1.95 billion in 2022 and $5.74 billion in 2021. The Musk Foundation supports causes like renewable energy and AI. Following the donation, Tesla stock fell, impacted by the company's first annual sales decline in a decade, amid rising competition and slowing demand.
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