News
Elon Musk’s Tesla Now Worth $630 Billion After Making $1.1billion Between April-June
Elon Musk company, Tesla earned a staggering $630billion after its quarterly profit surpassed $1billion for the first time..
One of the richest men in the world, Elon Musk is smiling to the bank.
This comes after his company, Tesla earned a staggering $630billion after its quarterly profit surpassed $1billion for the first time.
The financial milestone was announced on Monday, July 26. The Palo Alto, California, company earned $1.1billion, or $1.02 per share, in the April-June period.
Tesla earned $1.45 a share in the latest quarter, easily topping the 94 cents expected by Wall Street analysts, according to FactSet.
Tesla now boasts a market value of roughly $630billion, far more than any other automaker and 14 times more than what the company was worth just two years ago.
The company’s CEO, Elon Musk, is now sitting on the world’s third-largest fortune at an estimated $163billion, according to Forbes magazine’s calculations.
In a Monday conference call, Musk said Tesla keeps its manufacturing lines running largely by finding chips from alternate suppliers and then scrambling to rewrite some of the software in its cars to ensure all the technology remained compatible. Although he said things appear to be slightly approving, describing the chip shortage as still being “quite serious,” making it difficult to plan for the second half of the year.
“The chip supply is a governing factor on our output,” Musk said. “It is out of our hands.”
“The quality of a woman isn’t measured by the hair on her head but by her brain” – Yul Edochie cautions ladies against killing themselves over expensive hair this Christmas
President Tinubu cancels Lagos engagements in honor of food stampede victims
Moment stage collapses on Odumodublvck during concert performance (Video)
Goods worth millions of naira destroyed as fire guts spare parts market in Ibadan
Farmer k!lled, three siblings and one other severely injured as bomb explosions rock Niger state community
Video trends as Nigerian lady transforms face into Jesus Christ with makeup (Watch)
Lady swaps old woman’s ATM card while pretending to help, steals N2M
“The money wey dem pay me don expire” – Moment Burna Boy stops his performance at the Oando PLC end of the year party (Video)
-
Celebrity Gossip & Gist1 day ago“The money wey dem pay me don expire” – Moment Burna Boy stops his performance at the Oando PLC end of the year party (Video)
-
Economy1 day agoGoods worth millions of naira destroyed as fire guts spare parts market in Ibadan
-
Celebrity Gossip & Gist4 hours agoMoment stage collapses on Odumodublvck during concert performance (Video)
-
Economy4 hours agoPresident Tinubu cancels Lagos engagements in honor of food stampede victims