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Tesla boss Elon Musk wants to leave California - everyone understands the reason

2020-12-08T15:11:52.278Z


Tesla boss Elon Musk has had a fairytale ascent. The multi-entrepreneur is now the second richest person on the planet. But the treasury is already lurking.


Tesla boss Elon Musk has had a fairytale ascent.

The multi-entrepreneur is now the second richest person on the planet.

But the treasury is already lurking.

  • Elon Musk is

    causing a sensation worldwide.

  • The e-car pioneer

    Tesla

    is worth almost three times as much as

    BMW

    ,

    Daimler

    and

    VW

    combined.

  • But the sharp rise in the share price could

    now become a problem

    for the

    Tesla

    boss.

Update from December 7, 2020, 2:51

p.m.:

Tesla

boss

Elon Musk

is the economic

climber of

the year.

Since the beginning of the year alone, the share of the electric car pioneer has risen 540 percent.

The rally gave Musk a staggering increase in wealth.

The multi-entrepreneur's fortune is now estimated at $ 139 billion.

In the ranking of the super-duper-rich, only

Amazon

boss

Jeff

Bezos is

ahead of the physicist and economist.

But the unexpected bull market could still become a real problem for Musk.

Should he decide to redeem his stock options, up to $ 18 billion in income tax would be due overnight under California law.

This is what the Bloomberg news agency has calculated.

Science is discovering the essential truths about what exists in the universe, engineering is about creating things that never existedhttps: //t.co/aIEUtHoPxM

- Elon Musk (@elonmusk) December 2, 2020

The prospect of a possible billions in the tax bill seems to worry Musk.

Musk is said to have confided in friends that he will be moving to Texas with his family soon, reports CNBC.

Musk is a regular in Texas anyway.

Musk's space company

Space X

sends

rockets into space

from the launch pad in the Texan coastal town of Boca Chica

.

In addition,

Tesla

has been building another

GigaFactory

in the Texas capital

Austin

since July

.

In addition to the shorter distances, there is another argument in favor of Texas.

In the conservative state on the border with Mexico, the tax authorities are unusually frugal.

This also applies to stock options.

They're completely tax-free in Texas.

Tesla boss: "Our shares can be crushed like a soufflé by a sledgehammer"

First report from December 2, 4:36 p.m.

-

Tesla

* boss

Elon Musk

has urgently warned the employees of the Californian electric car pioneer of decreasing cost discipline.

“In times like these, when our stock keeps making new highs, it seems like spending care isn't that important.

That is definitely not true, "wrote Musk in an email to the

Tesla

employees, which is available on the US website

Elektrek

.

With a margin of one percent, Tesla's profitability was recently "very low".

Investors would trust in significantly increasing profits in the future, wrote Musk in his circular.

Should the shareholders at some point come to the conclusion that "this does not happen, our shares will be crushed like a soufflé under a sledgehammer!"

Tesla: Car maker with strong development

Tesla

had reported losses for years and was now close to bankruptcy.

In the past five quarters, however, the automaker has been profitable.

The group owes this primarily to the sale of CO2 certificates.

It was only in the third quarter that

Tesla made

a significant operational step forward.



The bottom line was that the Californians earned $ 331 million from July to September, almost twice as much as the previous year.

In terms of deliveries, too, there was an unexpectedly strong * increase of 43 percent to 139,000 vehicles, as the company announced on Friday.

Analysts 

 , however, had only expected

Tesla

to have 129,500 cars for July to September.

Tesla: The e-car pioneer’s market value dwarfs German carmakers

The development recently caused euphoria on the stock market.

Since the beginning of the year alone, the

Tesla share

* has risen a good 520 percent.

With a market value of almost 440 billion euros,

Tesla is

now worth almost 2.5 times as much as the German car

manufacturers BMW

*,

Daimler

and

Volkswagen

* combined.



The course rally also made Elon Musk a super rich man.

With an estimated fortune of around 128 billion dollars, the multi-entrepreneur has just

overtaken

Microsoft

founder

Bill Gates

and is now the second richest person in the world behind

Amazon

boss

Jeff Bezos

.

* Merkur.de is part of the Ippen Digital editorial network.

Source: merkur

All news articles on 2020-12-08

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