Tesla has now become the most powerful automotive brand in the world.
see photosElon Musk is pulling out a significant portion of his Tesla stock
Elon Musk recently sold nearly $8 billion worth of Tesla stock, and now the automaker has further revealed that he has exercised another tranche of 2.1 million stock options, of which he has sold nearly half. Despite these sales, Tesla holds onto its trillion-dollar-plus market cap, which also underscores the fact that it’s the most valuable automaker on the planet by nearly 4x. Next best is Toyota at $262 billion, followed by new EV startup Rivian, which was revealed to be worth more than $151 billion.
Musk revealed his intention to sell about 10 percent of his Tesla stock, which has reached an all-time valuation of more than a trillion dollars, but did so after Tesla stock soared. Musk also revealed that the stock price rose after news of the Tesla-Hertz deal for 100,000 vehicles, the CEO downplayed the report.
Tesla has a bunch of vehicles coming out like a Cybertruck
When Musk began selling the stock, Tesla’s valuation fell below the trillion-dollar mark, but then it rose above the trillion-dollar mark and has settled there. Musk revealed that he intends to sell about 10 percent of his entire holding. Tesla has now become the most powerful automotive brand in the world. It recently opened its third factory in Berlin and its Model Y rolled off production lines.
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It has also revealed new 4680 battery technology that promises to improve range, reduce production costs and be safer for its users. It has its own ADAS technology it calls Autopilot whose opinion is polarized and it also makes its own autonomous driving silicon and its algorithms to one of the world’s fastest supercomputers called Dojo.
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