The high-flying shares of Apple and Tesla rose further on Monday, as investors jumped at the opportunity to own shares at more affordable prices after the companies split their stock.
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South African-born entrepreneur Elon Musk’s net worth topped $100-billion on Friday, according to the Forbes real-time billionaires list, as the shares of electric-car maker Tesla surged.
Tesla shares continued their meteoric rise on Thursday, scoring yet another record high and further expanding the distance between the Silicon Valley electric car maker and its traditional auto industry rivals.
Tesla CEO Elon Musk has suggested the electric car maker may be able to mass produce longer-life batteries with 50% more energy density in three to four years.
Most people have heard of Nikola Tesla, thanks, perhaps in part, to the electric car company founded by Elon Musk that took his name. But few know much about his remarkable place in modern technology.
Elon Musk thinks Tesla will have fully autonomous cars ready by the end of 2020. That may be wishful thinking.
Tesla on Tuesday announced a five-for-one stock split, sending the electric car maker’s recently high-flying shares up 7% in extended trade.
Tesla CEO Elon Musk urged miners to produce more nickel, a key ingredient in the batteries that power the company’s electric cars, warning the current cost of batteries remained a big hurdle to the company’s growth.
Tesla’s rapid rise to become the world’s most valuable car maker could mark the start of a new era for the global auto industry, defined by a Silicon Valley approach to software.
It was sold as an all-or-nothing moonshot into space, the boldest pay package in corporate history. Now, with Tesla’s stock on a seemingly unstoppable rise, Elon Musk is poised to collect $2.4-billion.