|From: kidl||11/24/2020 8:30:57 AM|
| Tesla valuation nears half a trillion |
Driven by another surge in Tesla's (NASDAQ: TSLA) share price, Elon Musk's net worth soared $7.2B to $127.9B on Monday, passing Bill Gates to become the world's second-richest person. Not looking to take any cheap shots at Ford (NYSE: F), but yesterday's market cap gain for Tesla isn't all that far off from the total market cap for the Blue Oval of about $35B. There is plenty of general enthusiasm over the impact of a Biden administration for the EV sector and hopes that EV sales in China will accelerate with the support of Beijing. On the latter note, Wedbush Securities analyst Dan Ives thinks China presents eight to nine times the opportunity for EVs in the near term as sales in the U.S. TSLA +4.6% premarket.
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|From: Julius Wong||11/24/2020 8:40:47 AM|
Elon Musk surpasses Bill Gates as the world's second-richest person as Tesla's market value nears $500 billion
Asa Mathat | D: All Things Digital
Elon Musk has overtaken Bill Gates as the world's second-richest person. His net worth is now $128 billion.Musk's wealth has been on a steady climb this month: Tesla's market cap soared as high as $498 billion Monday as it is set to join the S&P 500 in December.The jump in Musk's net worth places him second to Jeff Bezos, whose net worth stands at $182 billion.He predicted last year that self-driving Teslas, which are still being refined, would boost the company's market cap to $500 billion. Visit Business Insider's homepage for more stories.Elon Musk has officially overtaken Bill Gates to become the world's second-richest person.
Musk saw his net worth rise by about $7 billion to $128 billion on Monday, according to the Bloomberg Billionaires Index, as Tesla's market value nears $500 billion.
He predicted last year that self-driving Teslas, which are still a work in progress, would boost the automaker's market cap to $500 billion. At the time of Musk's prediction, its market cap was under $45 billion.
The increase in Musk's wealth places him second to Jeff Bezos, who is currently the world's richest person with a net worth of $182 billion.
Musk and Gates have already had a conflicting year as they have repeatedly disagreed over everything from the coronavirus to electric cars. The public differences began when Gates said even though he thought Tesla has helped drive electric-car innovation, he bought one from Porsche. Separately, Musk even called Gates a "knucklehead" for criticizing his efforts on conducting coronavirus antibody studies.
Tesla's surge in value has been driven by a series of good news recently, from its inclusion in the exclusive S&P 500 index and Morgan Stanley upgrading its stock to "overweight" for the first time since 2017.
Goldman Sachs expects a tidal wave of large-cap mutual funds tracking the S&P 500 to fuel another rally for the automaker next month, when it will join the index as one of the 10 most valuable members on December 21.
Tesla shares were up 2% in pre-market trading on Tuesday, and its stock is up almost 730% this year.
Musk's net worth is not solely down to a large stake in Tesla, but also to his other companies, space exploration group SpaceX and infrastructure and construction firm The Boring Company. He previously said he wouldn't take any cash salary from Tesla until it hits $100 billion in market cap. His immense fortune does not mean he is a lavish spender: he's said he wouldn't like to own physical possessions or "own a house." He even sold two of his California mansions.
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|From: Eric||11/24/2020 9:09:24 AM|
| Tesla boosts Model S range again, now beating Lucid Air |
Nov. 21st 2020 5:06 pm ET
Tesla has again increased the range of the Model S electric sedan to a new record high.
It is again taking the lead in its range and price rivalry with Lucid.
Earlier this year, Tesla managed to increase the range of the Model S to 402 miles on a single charge – a new record for all-electric vehicles.
A few months later, Lucid unveiled the base version of its Air electric sedan with a range of 406 miles and a price competitive with Tesla’s Model S, which is expected to be its top competitor in the luxury sedan segment.
In response to the announcement, Tesla CEO Elon Musk said that Tesla will reduce Model S price to $69,420 – trolling Lucid in the process:
It officialized the rivalry between the two electric vehicle companies even though Lucid has yet to deliver its first vehicle.
Now Tesla is upping the ante again.
An Electrek reader found a brand new Tesla Model S produced this month and the Monroney sticker shows an updated EPA range of 409 miles on a single charge:
The Model S Long Range Plus had a build date in November 2020.
It’s unclear what is pushing the range to 409 miles or if it is based on software, hardware improvements, or both.
The EPA has yet to update its website with the new rating, but if it made it to the Monroney sticker, it is a good indication that it is official. Tesla also hasn’t updated the range on its website.
Last month, Tesla gave Model S Performance a big increase in range, but the Long Range Plus wasn’t updated.
Interestingly, the previous Model S Long Range with 402 miles of range had a combined 117 MPGe rating (City MPGe:121 – Highway MPGe:112) and the new Monroney sticker shows that the efficiency went down.
It now shows a combined 116 MPGe rating (City MPGe:119 – Highway MPGe:113).
Tesla improved the efficiency on the highway, but it went down for city driving.
Normally, if the efficiency goes down, but the range goes up, it means that Tesla increased the energy capacity of the battery – though we can’t confirm that for now.
Recently, we learned that Tesla upgraded the energy capacity of its Model 3 Long Range battery pack, but Model 3 doesn’t use the same battery cells as Model S.
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