Elon Musk becomes first person in history to see their wealth fall by $200 billion

OneSpeed

Posts: 448   +244
He lost "$200 billion in asset value" and had not lost anything until he realized a taxable event (cashing in on said stocks). He would have been down $200 billion if he were to cash everything in - not a bad predicament to be in.
 

scavengerspc

Posts: 2,903   +3,210
TechSpot Elite
He lost "$200 billion in asset value" and had not lost anything until he realized a taxable event (cashing in on said stocks). He would have been down $200 billion if he were to cash everything in - not a bad predicament to be in.
Yeah, why not ask Musk about that? I sense that he would strongly disagree.
 

scavengerspc

Posts: 2,903   +3,210
TechSpot Elite
No need to ask him; any first-year accountant would know this. It is just book value, btw do you own any stocks?
I own many stocks (through a broker). And I know how asset's worth effects many aspects of credit and how it looks to the investment community. Now, do you deny that kind of loss can have a devastating effect on how the public looks at them for potential investment?
Because one thing Tesla could desperately use right now is new investors.
 
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Nobina

Posts: 4,044   +4,710
He has $200B to lose. An amount of money you can't even dream of. But since you guys say he's a loser I guess I'll just take your word for it.
 

NumberSix

Posts: 191   +304
Because all those other cars you mentioned are still in the compliance car territory. They are not real EVs. Their battery chemistry is old and what was available at the time of their rushed development. Tesla made their own battery now which last times longer than the battery of any of those.
Also none of the competition has autopilot, decent app for remote control and the power. Tesla is still the fastest EV with the Plaid models.

And this shows. Tesla model Y is now the best selling car in Europe and is trending to be come the best selling car in the world.

Tesla might be making its own cells but LFP isn't anything new, it has been around for decades and although it lasts longer it is also heaver and has a lower energy density.
 

DaveBG

Posts: 639   +299
Maybe; but then all of the manufacturers I listed know how to put a vehicle together plus they probably won’t burst into flames with me inside.

Tesla always ranks pretty much dead last in customer satisfaction surveys, the build quality is shoddy and the service is woeful.

Personally, I’d rather have the Taycan or an i8
Currently the biggest torch is the Chevy Bolt. They even recomended not to park the car inside your house and all have been recalled. Not Tesla. As a mater of fact Tesla had not had any fires for a long time now and all of few fires have become national news and were investigated troughly and none were caused by defect in the battery or the car. It is alwas external factors like crash or something else.

Lets not forget that EVs are much much less probable to catch fire than gas cars though. No one calls gas cars about that and people still drive them and there is not much scare. So we are talking about something very very remote here.
 

Avro Arrow

Posts: 3,363   +4,363
Windows-Is-Attempting-To-Give-a-Damn-Gif.gif
 

maxxcool7421

Posts: 209   +395
Currently the biggest torch is the Chevy Bolt. They even recomended not to park the car inside your house and all have been recalled. Not Tesla. As a mater of fact Tesla had not had any fires for a long time now and all of few fires have become national news and were investigated troughly and none were caused by defect in the battery or the car. It is alwas external factors like crash or something else.

Lets not forget that EVs are much much less probable to catch fire than gas cars though. No one calls gas cars about that and people still drive them and there is not much scare. So we are talking about something very very remote here.
And yet, still has a worse long term satisfaction and quality rating than ... /ahem/ Dodge ram pickups...
 

DaveBG

Posts: 639   +299
And yet, still has a worse long term satisfaction and quality rating than ... /ahem/ Dodge ram pickups...
Any proof of that? Everyone I know that has Tesla sais that this is the best car by far and will never go back to any gas car ever again.
 

scavengerspc

Posts: 2,903   +3,210
TechSpot Elite
And yet, still has a worse long term satisfaction and quality rating than ... /ahem/ Dodge ram pickups...
Long term stats are not a big thing for pickups.
It's quite a different scenario when judging the Ram, F-Series and Silverado trucks.

With few exceptions, heavy construction sites are dominated by Rams and F-Series trucks, and as such, get beat on their entire life.

The Silverado is mostly delivering Avon, Tupperware, and Mary Kay. :joy:
 
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Scott Barnes

Posts: 35   +48
And yet, still has a worse long term satisfaction and quality rating than ... /ahem/ Dodge ram pickups...
Tesla topped Consumer reports customer satisfaction survey every year from 2013-2019 when there was a bit of a questionable removal of them from the top spot. This was widely reported by many well established publications including CR themselves.

https://www.forbes.com/sites/larrym...t-about-tesla-tesla-responds/?sh=548e058c31b6

If you have a subscription to CR you can look up the archived awards for yourself, they appear to have paywalled all of their content in recent times.

This appears to be yet another arena where present fashion sense is pushing aside the historical facts of the matter. You don't have to agree with every stance taken by another individual to be able to accept the factual reality of past events. A quick search on your preferred browser will turn up hundreds of articles on every platform from the LA Times to Fox news regarding just how much of an American success story Tesla has been. Choose your favorite references from steel to straw as they are nearly unanimous regarding how customers feel about their purchase of a modern American EV. There are plenty of valid critiques of Tesla from subscription modeled accessories to the true impact of their manufacture on poorer areas of the planet.

Anecdotally; Ferrari, Porsche, Lamborghini and McLaren are much more likely to pop up in your searches regarding automotive fires than Tesla.
 

Olivia Simmons

Posts: 13   +1
Every step that is taken and not appreciated by everybody has a valuable reason. It is only known to the person taking that step. Maybe Elon Musk had his own reason. He has been suffering and had to bare a lot of things that we never know.
 

Hodor

Posts: 418   +302
Unbelievable. What a loser. I've never lost 200 million dollars, let alone 200 billion.
 

Avro Arrow

Posts: 3,363   +4,363
Long term stats are not a big thing for pickups.
It's quite a different scenario when judging the Ram, F-Series and Silverado trucks.

With few exceptions, heavy construction sites are dominated by Rams and F-Series trucks, and as such, get beat on their entire life.

The Silverado is mostly delivering Avon, Tupperware, and Mary Kay. :joy:
And then of course, there's the legend, the indestructible Toyota Hilux:
Dodge trucks are only popular on construction sites because they're relatively cheaper to buy. They're like the Freightliner of the pickup world in that regard. Ford trucks are more rugged than Dodge or GMC but they have weird crap going on with them (remember the Triton spark plugs?). In any case, all American and European vehicles get humbled when compared to the durability of Toyotas (and Hondas for that matter). ;)
 

scavengerspc

Posts: 2,903   +3,210
TechSpot Elite
Dodge trucks are only popular on construction sites because they're relatively cheaper to buy. They're like the Freightliner of the pickup world in that regard. Ford trucks are more rugged than Dodge or GMC but they have weird crap going on with them (remember the Triton spark plugs?). In any case, all American and European vehicles get humbled when compared to the durability of Toyotas (and Hondas for that matter)
Sorry my friend, but if price had ANYTHING to do with it, every site in America would have nothing but GM vehicles. They are the least expensive full size, followed by the 2nd cheapest.... the Toyota Tacoma. Honestly, price has little to do with choosing an HD work truck.
Mind you, this does not include 1\2 ton trucks which are very light duty, and mostly for Mommies and flower shops. :poop:

Plus, I guess they can drop Toyota's into the Grand Canyon if they like, but their history is far less impressive when doing heavy site work.

EDIT - To add link:

https://www.motortrend.com/features/cheapest-new-pickup-trucks?slide=10
 
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Avro Arrow

Posts: 3,363   +4,363
Sorry my friend, but if price had ANYTHING to do with it, every site in America would have nothing but GM vehicles. They are the least expensive full size, followed by the 2nd cheapest.... the Toyota Tacoma.
Actually, you're right. I forgot how barebones a setup you can get in a Silverado. However, the Tacoma isn't a full-size, the Tundra is. :laughing:
Honestly, price has little to do with choosing an HD work truck.
Mind you, this does not include 1\2 ton trucks which are very light duty, and mostly for Mommies and flower shops. :poop:

Plus, I guess they can drop Toyota's into the Grand Canyon if they like, but their history is far less impressive when doing heavy site work.
That's only true in North America. Do you honestly believe that they don't make heavy trucks in Japan? They do but Toyotas have a different name when it comes to heavier trucks and that name is Hino. We only see the small Hino trucks over here though. In Japan, the big truck names are Hino and Fuso (Mitsubishi).
I don't need to check, I believe you. It's good that you put it there though. :D