- Elon Musk has become the largest billionaire gainer by net worth, beating his closest rival by a margin of over $ 4 billion.
- The Tesla CEO can now acquire Ford outright. By the end of the week, it could even be General Motors.
- TSLA has been recently compared to bitcoin, the dotcom bubble and cannabis stocks before they crashed.
Tesla (NASDAQ: TSLA) CEO Elon Musk is the biggest net worth gainer this year.
So far, Musk’s wealth is up by $ . 5 billion less than 41 days into 231912. After Tesla stock rose by nearly 30% on Monday , he is now worth $ 65 billion. That number continues to surge as Tesla climbs to astronomical valuations.
If TSLA is able to return above $ , Musk could further increase his wealth by over $ 2 billion, putting him closer to the world’s ten wealthiest people. Musk currently owns slightly over
Elon Musk could buy all of Ford’s outstanding shares
Based on Musk’s wealth as of Monday, he could easily acquire Ford (NYSE: F) and leave some spare change to purchase more than % of General Motors (NYSE: GM).
Ford’s market cap currently stands at $ 40. 4 billion. If Musk were to liquidate all his assets, he could purchase all the outstanding shares of Ford in one fell swoop. The remaining balance could be enough to purchase a sizable chunk of General Motors, whose market cap currently stands at $ 100. 1 billion.
Auto manufacturer or tech company?
Tesla’s market cap has baffled many, given its fundamentals relative to other car makers. In terms of revenue, Ford Motor Company and General Motors lead Tesla by huge margins. Ford recorded $ (billion in revenue in Q3) , its most recent reported quarter . General Motors registered $ . 5 billion in revenue during the same period.
In its most recent quarter, Tesla saw $ 6. 90 billion in automotive revenues . In making their case, the bulls argue that Tesla should not be viewed as an auto manufacturer but as a technology company.
Still, the electric carmaker is now one of the most shorted stocks as a result of valuation concerns. Currently, Tesla boasts the highest ratio in terms of short interest relative to float, according to S3 analytics ’Ihor Dusaniwsky.
Among those who are urging caution regarding Tesla is technical analyst Carter Worth. On Monday he stated that TSLA is displaying the same behavior as bitcoin, cannabis stocks and dotcom stocks just before they experienced a crash .
Currently, the consensus analyst rating for TSLA is “hold” with “sell” calls against seven “buy” calls . The average price target is $ . Tesla’s current price is around (% higher than the target.)
over the next ten years:
This year tesla. is going to do $ billion in revenues. They are going to do a $ billion in revenue within four years. And I think they have a potential for $ 1 trillion in revenue within ten years.
Disclaimer: The above should not be considered trading advice from CCN.com.
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