Tesla sales plunging worldwide amid Musk’s new role in Trump White House
Tesla sales plunging worldwide amid Musk’s new role in Trump White House
Stock price is down from December high
Summary
Tesla is facing a steep global sales decline, with drops of 63% in France, 59.5% in Germany, and 11.5% in China.
Analysts attribute this to growing competition, economic concerns, and backlash against Elon Musk’s support for Donald Trump.
Investors worry about potential tariffs from the Trump administration, which Tesla admits could impact its supply chain and profitability.
The company has not released a new model since late 2023, and Tesla stock has fallen from $480 in December to around $350. Some investors call this a "Trump-lash" against Musk and Tesla.
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Why would Elon care now? He got something better already... Control of the whole country
His control is contingent on his wealth. A very sizable portion of that wealth is represented by Tesla stock (TSLA). If the stock price declines, his wealth does too. That isn't to say if Tesla stock went to zero he'd be poor. He'd still be have something like $200B, but that's less than half what he's worth right this second.
You say that, but a lot of his wealth in other things is from leveraging TSLA. If that drops it might have a cascade effect.
I don't disagree, but even if he lost a further $199B he'd still be a billionaire. There are only 756 billionaire in the USA. By no measure is a billionaire poor.