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Forbes’ chief accountant of other people’s money counts the American entrepreneur’s losses following the release of Tesla’s Q2 2023 activity report. It turned out that North American Tesla,
In the first half of the year, the automaker’s profit fell to its lowest level since the epidemiologically devastating 2021. At the same time, profitability fell to 18.1%. Last Thursday, the capitalization dropped nearly 10% and at the end of the trading session on July 20, one share was valued at $262.90.
Musk owns a 13% stake in Tesla, hence the incredible magnitude of the losses. However, the billionaire estimates the losses philosophically, citing a quote from Warren Buffett as an example. He said the stock market is like a drunken psychopath whose mood is unpredictable.
Even with such losses, Mr. Musk still tops the Forbes list and remains the richest man in the world with a net worth of just over $250 billion. And in this regard, it can only be surprising that Tesla, which is actively increasing production, has sunk so far in the stock market. Recall that in the second quarter of 2023, Tesla electric vehicle production reached a record high of 479,700 units. That is almost 40,000 units more than the rather weak indicators of the first quarter.
In the first half of the year, the automaker’s profit fell to its lowest level since the epidemiologically devastating 2021. At the same time, profitability fell to 18.1%. Last Thursday, the capitalization dropped nearly 10% and at the end of the trading session on July 20, one share was valued at $262.90.
Musk owns a 13% stake in Tesla, hence the incredible magnitude of the losses. However, the billionaire estimates the losses philosophically, citing a quote from Warren Buffett as an example. He said the stock market is like a drunken psychopath whose mood is unpredictable.
Even with such losses, Mr. Musk still tops the Forbes list and remains the richest man in the world with a net worth of just over $250 billion. And in this regard, it can only be surprising that Tesla, which is actively increasing production, has sunk so far in the stock market. Recall that in the second quarter of 2023, Tesla electric vehicle production reached a record high of 479,700 units. That is almost 40,000 units more than the rather weak indicators of the first quarter.
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
