He gave interviews outside the Nasdaq Stock Exchange on the day of Tesla’s first public offering, June 29, 2010.
We stood in front of a shiny new fire red Tesla Model S. At the time, it was the cutting edge of auto technology. He told me that the IPO would give Tesla “a little extra cushion in case the Model S takes longer than expected.”
The goal was for the Model S to roll out in 2012. “We expect [it] to be 20,000 units a year in early 2013, “he told me. Tesla would sell 22,447 cars in 2013 – a marked increase from 3,100 the year before.
10 years fast and Tesla’s Model 3, its most affordable model, now costs roughly $ 38,000. It now costs less to buy a Tesla, but it still remains a luxury brand.
When asked how big he saw Tesla would be, he replied: “much bigger than Ferrari” … “and hopefully bigger than Porsche.” Tesla, which now sells hundreds of thousands of cars a year, has achieved both.
While many may at the time had a feeling that Musk would be an enormous leader in this space, many also questioned the viability of the company. What almost none of us knew at the time was how much he would try in the coming decades.
Like bringing our earthlings to Mars.
In an interview last month, he told the New York Times’ Maureen Dowd that he did not have time to design his own home because it would take his focus away from “bringing people to Mars and accelerating sustainability for environment and stable energy. ” The remarks were made just a few months after he mentioned and bought two of his own inns in Southern California
tweeted that he had sold most of his possessions.
Then there are Musk’s other aspirations, many of which remain very much on the drawing board, including:
Offshore space sports, driving launch pads for SpaceX’s Starship rocket to go to the moon, Mars and take space tourists into orbit.
– The Hyperloop, a high-speed transportation system that will send pods traveling through a series of underground tunnels.
– The Boring Company, which aims to build tunnels in Las Vegas and Los Angeles for underground transportation systems – such as the Hyperloop – and avoid annoying traffic jams above ground.
– Neuralink implants that can connect to our brains and communicate with our smartphones.
– SolarCity, Tesla’s solar panel company.
What Musk saw – and sees – possible, most do not. And over the next decade, Musk would develop a reluctance to give up.
Musk is also known for being outspoken and unfiltered, a rarity among CEOs of publicly traded companies.
He has also become a lightning rod for his remarks – both political and social. On Twitter and in conversations with investors, Musk has repeatedly questioned the threat posed by the coronavirus and opposed counter-orders, calling them “fascist.” He even tweeted that he thinks Tesla’s share price is too high, causing the stock, and a good bit of his personal fortune, to temporarily shrink.
In 2018, the Securities and Exchange Commission alleged that Musk misled investors when he tweeted that he had “secured financing” to take Tesla private. The tweet cost Musk – and Tesla – a hefty $ 20 million fine each. As part of the SEC scheme, Musk has also agreed to step down as chairman of Tesla, although he will remain CEO.
Tesla just announced its first annual profit in January. However, at the time of this writing, Tesla is valued at more than Ford (F), GM (GM) en Fiat Chrysler (FCAU) combine. It has also taken over Toyota (TM) as the most valuable automaker in the world.
For short sellers who bet Tesla’s stock would fall, Musk responded in July with a now-sold line of Tesla short shorts for $ 69,420 a pop.
“Relax by pool or lounge all year round indoors with our limited edition Tesla Short Shorts,” the Tesla store’s website announced. “Enjoy exceptional comfort from the closing clock.”
The little red satin shorts were apparently a hit. Immediately after they went on sale, they were sold out. And, in typical Musk fashion, he
tweeted, “Dang, we broke the website.”
.
