<a href="http://dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> reported record financial performance that exceeded expectations despite concern over the recent purchase of <a href="http://dailywire.com/topic/twitter" target="_blank" rel="noopener">Twitter</a> by <a href="http://dailywire.com/topic/elon-musk" target="_blank" rel="noopener">Elon Musk</a>, the <a href="http://dailywire.com/topic/electric-vehicles" target="_blank" rel="noopener">electric</a> automaker’s chief executive.
Tesla boasted revenues of $24.32 billion for the fourth quarter, surpassing analysts’ expectations of $24.16 billion and reflecting a 37% year-over-year increase. Total gross profits were $5.78 billion, marking a 19% year-over-year increase. The metrics increased by 51% and 53%, respectively, for the full year.
“In the last quarter, we achieved the highest-ever quarterly revenue, operating income and net income in our history,” the company said in an <a href="https://tesla-cdn.thron.com/static/GZR0GS_TSLA_Q4_2022_Update_PVPJAG.pdf?xseo=&amp;response-content-disposition=inline%3Bfilename%3D%22b7871185-dd6a-4d79-9c3b-19b497227f2a.pdf%22" target="_blank" rel="noopener">earnings report</a>. “As we progress into 2023, we know that there are questions about the near-term impact of an uncertain macroeconomic environment, and in particular, with rising interest rates. The Tesla team is used to challenges, given the culture required to get the company to where it is today.”
Shares for Tesla rose 8.6% as of Thursday afternoon; the company released the earnings report after the bell on Wednesday. Shares have nevertheless fallen nearly 50% over the past year, underperforming the S&amp;P 500 Index and the technology-heavy NASDAQ Composite.
“In the near term we are accelerating our cost reduction roadmap and driving towards higher production rates, while staying focused on executing against the next phase of our roadmap,” the company continued. “In any scenario, we are prepared for short-term uncertainty, while being focused on the long-term potential of autonomy, electrification and energy solutions.”
The robust earnings news comes after Musk faced significant <a href="https://www.dailywire.com/news/tesla-investors-are-worried-that-elon-musks-work-with-twitter-could-hurt-automaker" target="_blank" rel="noopener">pressure</a> from investors over his acquisition of social media company Twitter. Some believe the move distracted the billionaire entrepreneur from his work at the publicly traded automaker and linked the firm to considerable political controversy. Net favorability for Tesla among Democrats decreased 20.3% between October and November, the time frame of the acquisition, according to a <a href="https://morningconsult.com/2022/11/17/elon-musks-politically-polarizing-effect/" target="_blank" rel="noopener">survey</a> from Morning Consult, while net favorability among Republicans rose 3.9% over the same period.
One investor <a href="https://app.saytechnologies.com/tesla-2022-q4" target="_blank" rel="noopener">asked</a> during an earnings call whether brand damage from the acquisition has impacted demand for Tesla vehicles. Musk responded by checking his Twitter account and noting that he now has 127 million followers, claiming he is “reasonably popular” apart from “a few people” complaining. “I think Twitter is actually an incredibly powerful tool for driving demand for Tesla,” he asserted. “And I would really encourage companies out there of all kinds, automotive or otherwise, to make more use of Twitter and to use their Twitter accounts.”
Tesla previously <a href="https://ir.tesla.com/press-release/tesla-vehicle-production-deliveries-and-date-financial-results-webcast-fourth-quarter" target="_blank" rel="noopener">announced</a> that vehicle production in the fourth quarter surpassed 439,000 as vehicle deliveries reached 405,000. The metrics grew 47% and 40%, respectively, for the full year despite “supply chain related challenges.” Musk recently <a href="https://www.dailywire.com/news/elon-musk-makes-bold-predictions-about-tesla-performance-global-recession-twitter-deal" target="_blank" rel="noopener">said</a> that Tesla has “excellent demand” and expects to “sell every car that we make for as far into the future as we can see.”
The brand&#8217;s strong performance comes despite logistics <a href="https://www.dailywire.com/news/elon-musk-laments-tesla-factories-becoming-gigantic-money-furnaces-thanks-to-supply-chain-issues" target="_blank" rel="noopener">bottlenecks</a> that have increased production costs worldwide. Musk said last summer that the past two years have been an “absolute nightmare” for disruptions and called the company’s Berlin and Austin facilities “gigantic money furnaces.” Tesla has also been buoyed by public policies such as the Inflation Reduction Act, which <a href="https://www.dailywire.com/news/energy-sec-granholm-families-should-use-ev-tax-credits-weatherize-their-homes-finance-solar-panels-to-cope-with-inflation" target="_blank" rel="noopener">includes</a> $7,500 tax credits for some new domestically produced electric vehicles and $4,000 tax credits for used ones.

GERMANY-ECONOMY-AUTOMOBILE-TESLA

Tesla Posts Highest Profits Ever Despite Concerns About Musk’s Twitter Purchase Causing Brand Risk

Tesla Posts Highest Profits Ever 

Business

Economy

electric vehicles

Elon Musk

Tesla

Twitter

<a href="http://dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> unveiled intentions to build two more factories and hire thousands of people in the state of <a href="http://dailywire.com/topic/nevada" target="_blank" rel="noopener">Nevada</a>.
The company has invested some $6.2 billion in the Silver State over the past nine years, according to a <a href="https://www.tesla.com/blog/continuing-our-investment-nevada" target="_blank" rel="noopener">press release</a> from the <a href="https://www.dailywire.com/topic/electric-vehicles" target="_blank" rel="noopener">electric</a> automaker. The new investment of $3.6 billion will allow for updates to Gigafactory Nevada, one of the world&#8217;s highest volume <a href="https://www.tesla.com/giga-nevada" target="_blank" rel="noopener">plants</a> for electric motors and batteries, as well as a cell factory capable of producing enough batteries for 1.5 million vehicles each year and the first high-volume Tesla Semi factory.
“Thank you to the Tesla team, our supply chain partners and the local community that has made accelerating the world’s transition to sustainable energy possible at Gigafactory Nevada,” the company’s statement said.
The new facilities will employ an additional 3,000 individuals; Tesla hired 6,500 full-time employees and 17,000 construction workers over the previous decade to build and run Gigafactory Nevada, which currently spans 5.4 million square feet and produces 7.3 billion battery cells per year.
“Nevada is open for business, effective immediately,” Gov. Joe Lombardo (R-NV) <a href="https://twitter.com/JosephMLombardo/status/1618046041349316610" target="_blank" rel="noopener">said</a> on social media. “This is an incredible investment in our state.”
Tesla CEO Elon Musk <a href="https://twitter.com/elonmusk/status/1557236629412007937" target="_blank" rel="noopener">announced</a> last year that the Tesla Semi, which was unveiled in 2017 and originally scheduled to begin production in 2019, would begin by the end of 2022. The first completed vehicles were <a href="https://www.dailywire.com/news/elon-musk-announces-start-of-tesla-semi-production-will-reach-clients-within-two-months" target="_blank" rel="noopener">delivered</a> to Pepsi in December.
The Tesla Semi can accelerate from a standstill to 60 miles per hour within 20 seconds, according to a <a href="https://www.tesla.com/semi" target="_blank" rel="noopener">webpage</a> from Tesla. Charging the vehicle is considerably cheaper per mile in comparison to diesel alternatives, resulting in an estimated $200,000 in cost savings within the first three years, while fewer moving parts and software updates reduce the need for repairs.
On the other hand, diesel trucks can travel 2,100 miles on a single tank, according to <a href="https://driveknight.com/blog/trucker-lifestyle/fun-facts-about-semi-trucks-the-trucking-industry/#:~:text=How%20Far%20Can%20The%20Average,around%20seven%20miles%20per%20gallon" target="_blank" rel="noopener">data</a> from Knight Transportation, while the Tesla Semi will have a range of 500 miles. During the launch event six years ago, however, Musk asserted that drivers could recharge while taking periodic breaks already required by law.
Musk recently <a href="https://www.dailywire.com/news/elon-musk-makes-bold-predictions-about-tesla-performance-global-recession-twitter-deal" target="_blank" rel="noopener">said</a> that Tesla has “excellent demand” and expects to “sell every car that we make for as far into the future as we can see.” The company’s third quarter automotive revenue constituted a 55% increase from the previous year, while executives expect to maintain 50% annual growth in vehicle deliveries. “The factories are running at full speed and we’re delivering every car we make, and keeping operating margins strong,” Musk remarked.
The robust performance for the brand comes despite <a href="https://www.dailywire.com/news/elon-musk-laments-tesla-factories-becoming-gigantic-money-furnaces-thanks-to-supply-chain-issues" target="_blank" rel="noopener">supply chain bottlenecks</a> and is spurred by new tax incentives for electric vehicle ownership. A recent set of guidelines from the California Air Resources Board mandates that all new cars sold in the state must produce zero emissions by 2035, while the governments of Massachusetts, Washington, and Virginia have <a href="https://www.dailywire.com/news/ridiculous-edict-virginia-gov-glenn-youngkin-blasts-californias-gas-car-phase-out" target="_blank" rel="noopener">enacted legislation</a> adopting the standards. President Joe Biden’s Inflation Reduction Act <a href="https://www.dailywire.com/news/energy-sec-granholm-families-should-use-ev-tax-credits-weatherize-their-homes-finance-solar-panels-to-cope-with-inflation" target="_blank" rel="noopener">includes</a> $7,500 tax credits for some new domestically produced electric vehicles and $4,000 tax credits for used electric vehicles.
Musk has nevertheless faced <a href="https://www.dailywire.com/news/tesla-investors-are-worried-that-elon-musks-work-with-twitter-could-hurt-automaker" target="_blank" rel="noopener">pressure</a> from investors and policymakers over his acquisition of social media company Twitter, as some believe the move distracted the billionaire entrepreneur from his work at the publicly traded automaker. The purchase also caused considerable political controversy: net favorability of Tesla among Democrats decreased 20.3% between October and November, the time frame of the acquisition, according to a <a href="https://morningconsult.com/2022/11/17/elon-musks-politically-polarizing-effect/" target="_blank" rel="noopener">survey</a> from Morning Consult, while net favorability among Republicans rose 5.5% over the same period.

US-ECONOMY-TRANSPORT-TESLA-TRUCK

‘An Incredible Investment’: Tesla Announces Two New Factories, $3.6 Billion Investment In Nevada

Tesla Announces Two New Factories In Nevada

Nevada

Supply Chain

U.S.

The driver of a Tesla that <a href="https://www.theguardian.com/us-news/2023/jan/04/california-cliff-crash-man-arrested-children" target="_blank" rel="noopener">careened</a> off of a 250-foot cliff in California intentionally drove the car over the edge, according to authorities.
“[California Highway Patrol] investigators worked throughout the night interviewing witnesses and gathering evidence from the scene. Based on the evidence collected, investigators developed probable cause to believe this incident was an intentional act,” the California Highway Patrol <a href="https://www.facebook.com/CHPSanFrancisco/" target="_blank" rel="noopener">said</a> in a statement on Tuesday.
The patrol said the driver is Dharmesh A. Patel and he “has been placed under arrest for attempted murder and child abuse.” The passengers were “transported to a local hospital with serious injuries,” the statement noted. Officials did not comment on how the people inside the car are related to one another. However, the Daily Mail <a href="https://www.dailymail.co.uk/news/article-11598475/PICTURED-Doctor-intentionally-drove-family-cliff-Tesla.html" target="_blank" rel="noopener">reported</a> that Patel’s wife and children were the occupants and that Patel is a radiologist at a medical center.
“There has been no determination as to what driving mode the Tesla was in; however, that does not appear to be a contributing factor in this incident,” the statement added. Patel will be booked into San Mateo County Jail after he gets out of the hospital.
Officer Andrew Barclay, a spokesman for the highway patrol’s Golden Gate Division, <a href="https://www.nbcnews.com/news/us-news/tesla-driver-plunged-family-california-cliff-purpose-officials-say-rcna64170" target="_blank" rel="noopener">said</a> officials are set to book Patel on two counts of child abuse, as well as three counts of attempted murder.
Officials said the man drove the car over the edge of the cliff on purpose, trying to kill an adult and two kids who were inside. After the vehicle <a href="https://www.foxnews.com/us/california-man-intentionally-drove-tesla-off-cliff-another-adult-2-kids-car-authorities" target="_blank" rel="noopener">drove</a> off of “Devil’s Slide” <a href="https://www.cnn.com/2023/01/04/us/tesla-crash-cliff-california-driver-arrested/index.html" target="_blank" rel="noopener">cliff</a>, people who saw the accident called 911 around 10:50 in the morning on Monday. Firefighters arrived at the scene and rappelled down the terrain to save the two young children. Helicopter crews also took part in the rescue. In order to get the occupants out of the vehicle, emergency personnel <a href="https://www.foxnews.com/us/california-man-intentionally-drove-tesla-off-cliff-another-adult-2-kids-car-authorities" target="_blank" rel="noopener">used</a> “jaws of life” equipment.
Brian Pottenger, battalion chief for Coastside Fire Protection District/Cal Fire, <a href="https://www.nbcnews.com/news/us-news/tesla-driver-plunged-family-california-cliff-purpose-officials-say-rcna64170" target="_blank" rel="noopener">said</a> it was “very, very rare” for people to live through a steep drop like that, adding that the children’s car seats might have made the difference between life and death for the kids.
“Every one of us was shocked when we saw movement out of the front windshield,” Pottenger said.
“[The children] were more scared than they were hurt,” he added.
“We were actually very shocked when we found survivable victims in the vehicle. So that actually was a hopeful moment for us,” Pottenger <a href="https://twitter.com/CALFIRECZU/status/1610075687981023233?s=20&amp;t=EXPgUF7_oEaoRcL15J2Zmg" target="_blank" rel="noopener">said</a> in a video posted to Twitter on Monday.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
This morning, a vehicle with 2 adults and 2 minors went over cliff at Devil&#39;s Slide in <a href="https://twitter.com/sanmateoco?ref_src=twsrc%5Etfw">@sanmateoco</a>. Witnesses saw the accident and called 911. The car plunged hundreds of feet down the cliff and landed on the beach. All four patients were successfully rescued. Watch the video! <a href="https://t.co/HUM2SJ56Oy">pic.twitter.com/HUM2SJ56Oy</a>
&mdash; CAL FIRE CZU (@CALFIRECZU) <a href="https://twitter.com/CALFIRECZU/status/1610075687981023233?ref_src=twsrc%5Etfw">January 3, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
“We go there all the time for cars over the cliff and they never live. This was an absolute miracle,” Pottenger <a href="https://www.kcra.com/article/california-tesla-driver-cliff-children-highway-1-devils-slide-arrested/42390332" target="_blank" rel="noopener">told</a> the <a href="https://apnews.com/article/technology-california-san-francisco-04504cc68d9c753ee6095627b66af612" target="_blank" rel="noopener">Associated Press</a>.

013E4B12-324D-4742-911E-8DF5AE6CAB1B_1_201_a

Authorities Say Driver Intentionally Drove Tesla Over California Cliff

California

Cars

Crime

Would you believe that a <a href="https://www.dailywire.com/topic/california" target="_blank" rel="noopener">Santa Monica tree hugger</a> who was originally peer-pressured into buying a <a href="https://www.dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> by his liberal friends is now concerned that his virtue-signaling car has become a vice due to the way <a href="https://www.dailywire.com/topic/elon-musk" target="_blank" rel="noopener">Elon Musk</a> is running Twitter?
Of course you would. That&#8217;s probably one of the most believable scenarios you&#8217;ll hear all year.
Regardless, The Los Angeles Times <a href="https://www.latimes.com/opinion/story/2022-12-28/tesla-elon-musk-twitter-conservative-environment-electric-vehicles" target="_blank" rel="noopener">thought the scenario noteworthy enough</a> to publish a nearly 700-word screed by a former magazine editor named John Blumenthal about the latest leftist lamentations regarding free speech.
A few years ago, Blumenthal had driven a car powered by fossil fuels — which made him a &#8220;hypocrite.&#8221;
&#8220;The car was impractical, but it had sentimental value,&#8221; he explained in the story. &#8220;My environmental activist friends were not impressed by my assiduous urban composting, LED bulb installations and energy-saving appliances. I needed to do more to diminish my carbon footprint. The icebergs were melting, my friends said, and at least one polar bear was wandering around homeless and hungry because of me.&#8221;
So Blumenthal purchased a Tesla, which he felt was &#8220;pricey but worth it.&#8221;
Yet now that the Tesla founder has allowed for Twitter&#8217;s policies to be more in line with the First Amendment, Blumenthal is again worried about what his friends might think of his car and his moral stature.
&#8220;Because of the recent revelation of Elon Musk’s political views — all of which I abhor — I’m starting to worry about what sort of political statement the car is making,&#8221; the writer fretted. &#8220;Will people see me as a symbol of right-wing environmentalism, a living oxymoron?&#8221;
The author says that he is &#8220;horrified&#8221; by Musk&#8217;s political views — exactly which stances he doesn&#8217;t quite say. His only argument is that Musk is allowing unseemly characters on Twitter while banning journalists.
Blumenthal neglects to mention that Musk&#8217;s recent bans of journalists were in accordance with the rules he created and is now applying equally. As Musk put it, journalists aren&#8217;t &#8220;special.&#8221;
So, Blumenthal now wonders whether he should sell his Telsa as a form of  &#8220;protest&#8221; against one of the world&#8217;s richest men.
He acknowledges that the sale of the car wouldn&#8217;t actually do much to deter Musk from his beliefs, but he does believe it could make him feel better.
&#8220;It’s a beautifully designed car with no carbon emission, and initially, I was proud of owning it and being seen driving a vehicle that displayed my concern for the environment,&#8221; Blumenthal claimed. &#8220;But I’m a liberal, and if Musk’s politics don’t change radically for the better, driving a Tesla will become, at least for me, as hypocritical and untenable as driving a gas guzzler was.&#8221;
In other words, he admits he mostly bought it so he could be &#8220;seen&#8221; supporting the correct causes.
Blumenthal&#8217;s column unwittingly exposes the modern Left&#8217;s unseriousness of the problems at hand.
Far from being the individual critical thinkers they believe, they simply follow the crowd on all topics of the day.
They often make decisions not out of any genuine concern or logic, but because a mob of people bullies them into making the &#8220;right&#8221; choice. In this case, Blumenthal&#8217;s friends are the mob. If he wants to fit in with his California comrades, then he better dress the part and ditch the Tesla.
First, their judgy natured pushed him toward the electric vehicle, now he&#8217;s under the impression he must sell that same car to fit in with the in-crowd.
Of course, he could just decide to be a grown man and not be concerned with what others think, but then he might lose his friends.
The other thing is that it would appear that climate change is out as the most threatening thing in the world, and instead, a commitment to free speech has come to the surface of the latest leftist hysteria.
So, it looks like Blumenthal may sell his Tesla so that the social justice warrior crowd doesn&#8217;t associate him with Twitter&#8217;s so-called fascist-in-chief &#8230; a man who stands against big government in bed with Big Tech.
He has to broadcast his support by promoting certain symbols. It&#8217;s sort of like those people online who fill their profiles with Ukrainian flags and BLM fists or put up those &#8220;hate has no home&#8221; yard signs on their lawns. For leftists, it&#8217;s always the thought and most superficial tangible sign of support that counts — not the actual outcomes certain policies and beliefs create.
In other words, the important thing for progressives isn&#8217;t that they actually create changes that help the world, no, what matters is that they signal to other liberals they&#8217;re part of the same team.
What a tiresome existence.
The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.

Tesla Owner Concerned His Virtue-Signaling Car Has Become A Vice Because Elon Musk Supports Free Speech

Climate Change

Environment

Leftists

Politics

Progressivism

The driver of a 2021 <a href="https://www.dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> told police that his vehicle’s self-driving software malfunctioned, causing an eight-car pileup on <a href="https://www.dailywire.com/topic/san-francisco" target="_blank" rel="noopener">San Francisco</a>’s Bay Bridge last month.
The crash that occurred on Thanksgiving Day resulted in two juveniles being transported to the hospital for minor injuries. According to a police report obtained by <a href="https://www.usnews.com/news/technology/articles/2022-12-21/tesla-driver-in-multi-car-crash-told-police-self-driving-software-malfunctioned#:~:text=Dec.%2021%2C%202022%2C%20at%207%3A45%20p.m.&amp;text=WASHINGTON%20(Reuters)%20%2D%20The%20driver,police%20report%20made%20public%20Wednesday." target="_blank" rel="noopener">Reuters</a> and made public Wednesday, the Tesla Model S made an unsafe lane change and then began slowing to a stop. The vehicle behind the Tesla then rammed into the back of the braking Tesla, resulting in a chain of crashes on the bridge. 
After the pileup, the Tesla driver told police that he had put his car in Full-Self Driving (FSD) mode, but authorities could not determine if the FSD software had malfunctioned, Reuters reported. Police also noted that if the FSD mode had malfunctioned as the driver claimed, the driver should have manually taken control of the vehicle. 
Tesla offers customers FSD mode as a $15,000 add-on to the electric vehicle. FSD software allows the vehicle to change lanes and park on its own while its autopilot mode gives the Tesla the ability to steer, accelerate, and brake autonomously within its lane, but the company warns that these features do not make the vehicle fully autonomous. 
“Autopilot, Enhanced Autopilot and Full Self-Driving Capability are intended for use with a fully attentive driver, who has their hands on the wheel and is prepared to take over at any moment,” Tesla <a href="https://www.tesla.com/en_eu/support/autopilot" target="_blank" rel="noopener">states</a>. “While these features are designed to become more capable over time, the currently enabled features do not make the vehicle autonomous.”
Reports of the alleged Tesla malfunction come as the car maker&#8217;s stock has seen its largest decline in Tesla&#8217;s history after reaching an all-time high in 2021. The EV company stock was down 8% Thursday, bringing its year-to-date losses to 64%, Yahoo Finance <a href="https://finance.yahoo.com/news/teslas-largest-ever-decline-has-short-sellers-sitting-on-15-billion-in-profits-morning-brief-110021261.html" target="_blank" rel="noopener">reported</a>. 
Financial analysts expressed concern about Tesla after company CEO Elon Musk purchased Twitter for $44 billion in late October. Dan Ives of Wedbush <a href="https://finance.yahoo.com/news/elon-musk-promised-tesla-benefit-210427354.html">wrote</a> that Musk’s purchase of Twitter scared investors because Musk was using “Tesla as his own ATM machine to keep funding” Twitter. 
Gene Munster of Loup Ventures echoed Ives’ concern about Musk’s divided attention between Tesla and Twitter. 
&#8220;Elon is Tesla&#8217;s brand. He needs to pull it together. He&#8217;s made these mistakes about running off on the mouth many times, and he needs to tighten up his message because he&#8217;s going to cause some long-term damage if he doesn&#8217;t right the ship,&#8221; Munster <a href="https://markets.businessinsider.com/news/stocks/elon-musk-twitter-takeover-tesla-stock-price-fall-gene-munster-2022-12?utm_medium=referral&amp;utm_source=yahoo.com" target="_blank" rel="noopener">told</a> CNBC last week. 
Musk recently <a href="https://www.dailywire.com/news/breaking-elon-musk-stepping-down-as-the-ceo-of-twitter-reveals-what-hell-do-next" target="_blank" rel="noopener">polled</a> Twitter users on if they want him to step down as the social media platform’s CEO. The poll received over 17 million votes with 57.5% of users saying Musk should step down. After the poll, Musk confirmed he would abide by its results. 
“I will resign as CEO as soon as I find someone foolish enough to take the job!” he tweeted. “After that, I will just run the software &amp; servers teams.”

Tesla Causes 8-Car Pileup On San Francisco Bridge. Driver Tells Police Self-Driving Mode Malfunctioned.

Police

San Francisco

Technology

Senator <a href="http://dailywire.com/topic/elizabeth-warren" target="_blank" rel="noopener">Elizabeth Warren</a> (D-MA) warned board members of <a href="http://dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> that the recent acquisition of <a href="http://dailywire.com/topic/twitter" target="_blank" rel="noopener">Twitter</a> by <a href="http://dailywire.com/topic/elon-musk" target="_blank" rel="noopener">Elon Musk</a> could present conflicts of interest for the electric automaker.
Musk purchased the social media company in a $44 billion deal that followed months of court battles about the number of true accounts on the platform. Among other challenges posed to the company has been leftist ire over the billionaire entrepreneur’s claims to prioritize freedom of speech and publicize the <a href="https://www.dailywire.com/news/fbi-responds-to-latest-release-of-the-twitter-files" target="_blank" rel="noopener">censorious actions</a> from former management.
Warren told Tesla Chair Robyn Denholm in a <a href="https://www.warren.senate.gov/imo/media/doc/2022.12.18%20Letter%20to%20Tesla%20Board%20on%20Musk%20Concerns.pdf" target="_blank" rel="noopener">letter</a> that the board has a responsibility to ensure that Musk “fulfills his legal obligation to act in the best interests of Tesla and all of its shareholders, not just himself,” as well as guarantee that he “does not treat the company as a private plaything.” She asked about specific oversight measures board members have created to determine whether Musk is adequately leading the automaker.
“Musk’s acquisition of Twitter and his simultaneous management of both Twitter and Tesla raise significant legal questions about conflicts of interest, compliance with labor laws, and misappropriation of corporate resources,” she wrote.
The lawmaker, who has <a href="https://www.dailywire.com/news/elon-musk-torches-elizabeth-warren-please-dont-call-the-manager-on-me-senator-karen" target="_blank" rel="noopener">previously clashed</a> with Musk over his supposed failure to pay a fair share of taxes, referenced his reported use of Tesla engineers to assume control of the social media company’s code immediately following the acquisition. Though Musk has said that the employees volunteered to help him take over the platform, Warren cited one anonymous report claiming that “most would also feel it was impossible to turn down a direct request from Musk without later facing poor performance reviews or other consequences.” Warren also said that using Tesla employees at Twitter could violate Musk’s legal “duty of loyalty to Tesla” and “trigger questions” about the board’s responsibility to prevent such actions.
Musk has <a href="https://twitter.com/elonmusk/status/1600964083913588736?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">remarked</a> that he still oversees Tesla and SpaceX, where he says the teams “are so good that often little is needed” from him. The serial entrepreneur <a href="https://www.forbes.com/sites/dereksaul/2022/11/16/spacex-tesla-twitter-ceo-elon-musk-i-frankly-dont-want-to-be-ceo-of-any-company/?sh=2e8350b47848" target="_blank" rel="noopener">said</a> in court last month that he holds no desire to be a chief executive “of any company.”
Warren also expressed concern that Twitter could artificially suppress advertising traffic for Chevrolet, Ford, Audi, and other automakers that compete with Tesla. On the other hand, she claimed that Musk could harm Tesla by promoting competitors in order to raise “badly-needed revenue” for his acquisition, which was partially financed by debt.
She cited statistics that found “hate speech” impressions have risen after the buyout while providing a larger platform for “Nazis, virulent sexism, and climate misinformation” in a way that could harm the Tesla brand image, claims which Musk has <a href="https://www.dailywire.com/news/musk-fires-back-at-schiff-over-hate-speech-on-twitter" target="_blank" rel="noopener">directly contested</a>. The billionaire recently <a href="https://www.dailywire.com/news/extremely-messed-up-elon-musk-blasts-activist-groups-for-pushing-advertisers-to-ditch-twitter-destroy-free-speech-in-america" target="_blank" rel="noopener">slammed activist groups</a> for pressuring advertisers to abandon the platform over the purported rise in undesirable speech.
“Musk and Tesla are inextricably intertwined, and while this close relationship has benefited the company in the past, recent developments may have brought a series of negatives to the forefront,” Warren concluded.
Net favorability of Tesla among Democrats has indeed fallen 20.3 percentage points between October and November, the time frame of Musk’s Twitter purchase, according to a <a href="https://morningconsult.com/2022/11/17/elon-musks-politically-polarizing-effect/" target="_blank" rel="noopener">survey</a> from Morning Consult. On the other hand, net favorability among Republicans increased by 3.9 points over the same period. SpaceX, the reusable rocket venture founded by Musk, likewise fell 4.5 percentage points in net favorability among Democrats and rose 1 point among Republicans.

Elon Musk Elizabeth Warren

Elizabeth Warren Browbeats Tesla Board Over Elon Musk’s Work With Twitter

Warren Appeals To Tesla Board Over Musk Twitter Acquisition

Big Tech

Elizabeth Warren

<a href="http://dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> CEO <a href="http://dailywire.com/topic/elon-musk" target="_blank" rel="noopener">Elon Musk</a> has devoted much of his energy over the past several weeks to improving <a href="http://dailywire.com/topic/twitter" target="_blank" rel="noopener">Twitter</a>, leading investors behind the electric automaker to express concern about possible reputational harm to the brand.
The billionaire entrepreneur’s $44 billion takeover of the social media company has provoked <a href="https://www.dailywire.com/news/extremely-messed-up-elon-musk-blasts-activist-groups-for-pushing-advertisers-to-ditch-twitter-destroy-free-speech-in-america" target="_blank" rel="noopener">considerable ire</a> from leftists since his major points of emphasis have rested upon ensuring freedom of expression and nixing efforts to <a href="https://www.dailywire.com/news/elon-musk-acknowledges-left-wing-censorship-machine-has-it-out-for-conservatives" target="_blank" rel="noopener">limit the reach</a> of conservative accounts. Musk has also provided copies of emails to third-party journalists revealing former Twitter executives’ efforts to suppress non-leftist speech and <a href="https://www.dailywire.com/news/the-fourth-installment-of-the-twitter-files-is-released" target="_blank" rel="noopener">remove</a> former President Donald Trump.
As turmoil at the social media company continues to unfold, Future Fund Managing Partner Gary Black, whose company owns $50 million of Tesla stock, <a href="https://twitter.com/garyblack00/status/1602434691725918211" target="_blank" rel="noopener">said</a> that markets show the Tesla brand “has been negatively impacted by the Twitter drama.” Although electric vehicle buyers were once “proud to drive their Teslas to their friends or show off Teslas in their driveways,” the controversial takeover of Twitter is “hurting Tesla’s brand equity.”
“As Warren Buffett famously said: ‘In the short run, the market is a voting machine but in the long run, it is a weighing machine,’” he added, expressing hope that any damage to the Tesla brand is temporary and suggesting that the company <a href="https://twitter.com/GerberKawasaki/status/1602688949432221696" target="_blank" rel="noopener">appoint</a> a new interim chief executive. Ross Gerber, a longtime backer of Tesla and the head of Gerber Kawasaki Wealth and Investment Management, <a href="https://twitter.com/GerberKawasaki/status/1602472214535671808" target="_blank" rel="noopener">asked</a> who is running the automaker on a day-to-basis during the “critical time” for the company.
A handful of high-profile left-wing social media users have <a href="https://twitter.com/heathercampbell/status/1602168483038760960" target="_blank" rel="noopener">posted</a> <a href="https://twitter.com/mkarolian/status/1602317378494373890" target="_blank" rel="noopener">screenshots</a> of their canceled Tesla Cybertruck preorders, informing the company that Musk’s acquisition of Twitter motivated their decisions.
Net favorability of Tesla among Democrats decreased 20.3% between October and November, the time frame of Musk’s Twitter purchase, according to a <a href="https://morningconsult.com/2022/11/17/elon-musks-politically-polarizing-effect/" target="_blank" rel="noopener">survey</a> from Morning Consult. On the other hand, net favorability among Republicans increased 5.5% over the same period. SpaceX, the reusable rocket venture that Musk founded with the mission of establishing a permanent human settlement on Mars, likewise fell 4.5% in net favorability among Democrats and rose 1% among Republicans.
“For Tesla and SpaceX, the partisan spillover effects could have profound implications,” Morning Consult said. “If the Tesla brand becomes increasingly right-leaning, that could put it out of alignment with core electric vehicle purchasing profiles, which lean more liberal.”
Musk has <a href="https://twitter.com/elonmusk/status/1600964083913588736?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">remarked</a> that he continues to oversee Tesla and SpaceX, where the teams “are so good that often little is needed” from him. The serial entrepreneur <a href="https://www.forbes.com/sites/dereksaul/2022/11/16/spacex-tesla-twitter-ceo-elon-musk-i-frankly-dont-want-to-be-ceo-of-any-company/?sh=2e8350b47848" target="_blank" rel="noopener">said</a> in court last month that he holds no desire to be a chief executive “of any company.” He expects to gradually reduce the time he spends at Twitter and eventually appoint someone else to run the platform.
Musk has made headlines for <a href="https://www.dailywire.com/news/nature-is-healing-elon-musk-responds-as-silicon-valley-ceos-follow-his-lead-and-dismiss-surplus-employees" target="_blank" rel="noopener">dismissing</a> two-thirds of employees at Twitter with no apparent impact on the platform’s operations. The move has led to a wave of cost-cutting layoffs throughout the startup and venture capital sectors. “Nature is healing,” Musk <a href="https://twitter.com/elonmusk/status/1602009421022113792" target="_blank" rel="noopener">said</a>, appearing to reference Silicon Valley’s former environment of scrappy founders stretching every dollar and focusing intently on business outcomes rather than social activism.
Beyond the dismissals, Musk has told remaining workers at Twitter that they should expect “extremely hardcore” working hours if they desire to <a href="https://www.dailywire.com/news/read-it-elon-musk-tells-twitter-staff-to-work-long-hours-at-high-intensity-or-hit-the-road" target="_blank" rel="noopener">stay</a> at the company, constituting <a href="https://www.dailywire.com/news/musk-remote-work-is-no-longer-acceptable-at-tesla" target="_blank" rel="noopener">alignment</a> with the cultures of Tesla and SpaceX. He added that the firm would become “much more engineering-driven,” implying a pivot away from “design and product management” emphases.

Tesla Investors Are Worried That Elon Musk’s Work With Twitter Could Hurt Automaker

Tesla Investors Worried Elon Musk Twitter Acquisition Could Weigh On Brand

SpaceX

How does he find the time?
Multibillionaire Elon Musk is busy running the electric vehicle company Tesla, launching rockets into the cosmos via SpaceX as he aims to put a man on Mars, and now he&#8217;s the top twit on Twitter, tweeting his little heart out.
But somehow he also oversees a bizarre program to design brain implants for humans — which new reports say has led to the deaths of some 1,500 animals on which the devices are being tested.
Musk said last week that a wireless &#8220;brain chip&#8221; developed by Neuralink could go into human clinical trials within six months. But a new report says since 2018, the company has killed about 1,500 animals, including more than 280 sheep, pigs and monkeys, <a href="https://www.reuters.com/technology/musks-neuralink-faces-federal-probe-employee-backlash-over-animal-tests-2022-12-05/" target="_blank" rel="noopener">according</a> to Reuters.
The global news agency also said the medical device company &#8220;is under federal investigation for potential animal-welfare violations amid internal staff complaints that its animal testing is being rushed, causing needless suffering and deaths,&#8221; according to documents reviewed by Reuters and sources familiar with the investigation and company operations.
Reuters also said the the federal probe, which had not been previously reported, was &#8220;opened in recent months by the US Department of Agriculture&#8217;s Inspector General at the request of a federal prosecutor, according to two sources with knowledge of the investigation.&#8221;
It&#8217;s not the first time Neuralink has come under fire. In February, an animal rights group, the Physicians Committee for Responsible Medicine (PCRM), filed a complaint, claiming monkeys have been killed in botched surgeries to implant the chips.
&#8220;The group alleged that surgeons used the wrong surgical glue twice, which led to two monkeys suffering and ultimately dying, while other monkeys had different complications from the implants,&#8221; Reuters reported.
Treatment of monkeys burst into the headlines again last week when the PCRM launched a new <a href="https://www.pcrm.org/news/news-releases/ahead-elon-musks-show-and-tell-doctors-group-reveals-disturbing-truth-behind" target="_blank" rel="noopener">website</a>. The site says Neuralink&#8217;s experiments at the University of California, Davis, &#8220;resulted in chronic infections, seizures, paralysis, internal bleeding, and declining psychological health.&#8221;
&#8220;Hundreds of pages of public records revealed animals suffering from sloppy experiments that resulted in chronic infections, seizures, paralysis, internal bleeding, and declining psychological health before they were killed,&#8221; the site said.
&#8220;In two separate incidents, experimenters filled holes in monkeys’ skulls with an unapproved adhesive, which seeped through to the animals’ brains. In one monkey, the adhesive caused bleeding in her brain, and she vomited so much from the resulting side effects that she developed open sores in her esophagus,&#8221; the PCRM said.
“When it comes to Neuralink, Elon Musk is just a modern-day P.T. Barnum,” said Ryan Merkley, director of research advocacy with the Physicians Committee. “He’s a showman who makes big promises while hiding the grisly details from the public. We’re pulling back the curtain on him.”
Musk, though, says surgeries on animals are used only at a later stage of research in an effort to confirm that the device works rather than to test early hypotheses.
&#8220;We’re extremely careful,&#8221; he said, to make sure that testing is &#8220;confirmatory, not exploratory,&#8221; <a href="https://metro.co.uk/2022/12/06/musks-neuralink-investigated-over-killing-1500-animals-in-tests-17884516/" target="_blank" rel="noopener">according</a> to the UK&#8217;s Metro.
The federal probe will determine if that&#8217;s true.
The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.
Joseph Curl has covered politics for 35 years, including 12 years as White House correspondent for a national newspaper. He was also the a.m. editor of the Drudge Report for four years. Send tips to josephcurl@dailywire.com and follow him on Twitter @josephcurl.

Elon Musk: Running Tesla And Twitter, Heading To Mars — And Killing Monkeys?

Elon Musk: Running Tesla And Twitter, Heading To Mars -- And Killing Monkeys?

animal rights

Animals

<a href="https://www.dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> is set to deliver its first <a href="https://www.dailywire.com/topic/electric-vehicles" target="_blank" rel="noopener">all-electric</a> semitrailer trucks to PepsiCo on Thursday after a three-year delay in the company’s expansion beyond passenger vehicles.
The electric carmaker, run by billionaire Elon Musk, initially planned to reveal the Tesla Semi in 2019. The company struggled to mass produce its Model 3 sedan in 2017, the same year Musk introduced plans for the electric semi, The Wall Street Journal <a href="https://www.wsj.com/articles/tesla-set-to-deliver-semi-truck-to-pepsico-expanding-beyond-passenger-vehicles-11669899360?mod=hp_lista_pos2" target="_blank" rel="noopener">reported</a>.
Tesla says the semi can travel 500 miles on a single charge and recharge up to 70% within 30 minutes, cutting costs for customers compared to diesel trucks. The semi also features a unique “central seating position” that puts the driver in the middle of the cab. The truck was previously listed for $180,000, but the price has been removed from the automaker&#8217;s website, and Tesla&#8217;s prices have <a href="https://www.reuters.com/business/autos-transportation/musk-delivers-first-tesla-semi-trucks-2022-12-02/" target="_blank" rel="noopener">increased</a> since the semi was first unveiled in 2017.
“Charging with electricity is approximately 2.5 times cheaper per mile than refueling with diesel,” Tesla says on its <a href="https://www.tesla.com/semi" target="_blank" rel="noopener">website</a>. “Operators can see estimated fuel savings of up to $200,000 within their first three years of ownership. With remote diagnostics, over-the-air software updates and fewer moving parts to maintain, operators will spend less time at service centers and more time on the road.”
Tesla’s long-delayed jump into the commercial vehicle market comes as the <a href="https://www.dailywire.com/news/bidens-inflation-bill-made-7500-electric-vehicle-tax-credits-ford-and-gm-just-raised-their-prices-by-the-same-amount" target="_blank" rel="noopener">federal</a> government and some <a href="https://www.dailywire.com/news/two-more-states-follow-californias-ban-on-new-gas-cars" target="_blank" rel="noopener">states</a> push for an electric vehicle (EV) future. In August, President Joe Biden signed the Inflation Reduction Act, which includes tax credits for commercial EVs of up to $40,000. Starting in 2023 and continuing for 10 years, business owners can receive the <a href="https://www.cnbc.com/2022/10/21/why-an-electric-vehicle-tax-credit-for-business-owners-may-be-relatively-easy-to-get.html" target="_blank" rel="noopener">tax credit</a> if they purchase trucks that meet the Biden administration’s EV standards.
Tesla Board Chair Robyn Denholm said the company will only make 100 electric semis before the end of this year, but in October, Musk said he wants to produce 50,000 semis in 2024.
&#8220;As I think everyone knows at this point, it takes about a year to ramp up production. So, we expect to see significant &#8212; we&#8217;re tentatively aiming for 50,000 units in 2024 for Tesla Semi in North America,&#8221; Musk remarked during a third-quarter earnings call in October, <a href="https://www.foxbusiness.com/lifestyle/first-tesla-semis-delivered-thursday" target="_blank" rel="noopener">according</a> to Fox News.
Last month, Tesla board members discussed their concern over their CEO&#8217;s time and attention being diverted away from the car company after the billionaire purchased Twitter in a $44 billion deal. Musk said he plans to &#8220;reduce [his] time at Twitter and find somebody else to run Twitter over time&#8221; as Tesla’s stock has tumbled nearly 45% this year.
PepsiCo said the first delivery of the all-electric Tesla Semis will be used at a Frito-Lay plant in Modesto, California, and a PepsiCo plant in Sacramento, California. Neither Tesla nor PepsiCo revealed how many semis will be a part of the deal. Tesla will hold an event marking the first delivery of its electric semi on Thursday evening at a plant in Reno, Nevada, where the semi was produced.

Tesla Semi

Tesla To Deliver Its First All-Electric Semis, Three Years Later Than Planned

A <a href="https://www.dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> exploded into flames on a Pennsylvania highway this week and spewed toxic fumes from its lithium ion battery for a considerable amount of time because it took firefighters a significantly longer period of time to extinguish the fire compared to vehicles that use a standard combustion engine.
The incident happened at approximately 11 a.m. Tuesday on Interstate 80 at the 137 mile marker, the Morris Township Volunteer Fire Company #1 said in a statement.
The fire <a href="https://www.abc27.com/pennsylvania/incredible-photos-show-unidentifiable-tesla-after-pennsylvania-highway-fire/amp/?fr=operanews" target="_blank" rel="noopener">reportedly</a> ignited after the family that was driving the car ran over a piece of debris that caused the car to catch on fire. No one was hurt as everyone was able to quickly get out of the vehicle.
&#8220;As Engine Tanker 17 and Engine Tanker 19 arrived on scene it was quickly discovered that this was not your typical vehicle fire as crews quickly utilized just over 4,000 gallons of water. In total approximately 12,000 gallons of water was utilized,&#8221; the statement <a href="https://www.facebook.com/morristownshipfireco/posts/pfbid0rvsAUQmS3ahWmXhDa1oQKK1Mw3XV1H2psqbNzcQUSnYrWDVFDRzraUAf1sniiDHyl" target="_blank" rel="noopener">said</a>. &#8220;To give you an idea of the severity, crews can normally extinguish a fully involved vehicle fire with approximately 500 gallons or less.&#8221;
&#8220;Due to the lithium ion battery on the vehicle, extinguishing this fire would require additional tankers as the vehicle would continue to reignite and burn fierce at times,&#8221; the statement continued. &#8220;In total it took crews nearly two hours of continually applying water on the vehicle as the battery would begin to reignite and hold high temperatures.&#8221;
Photos of the Tesla showed that it was completely eviscerated by the fire.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
A Tesla caught on fire on I-80 in Clearfield County today. It took two hours of continuous water to put it out, according to Morris Township Fire Company. “This vehicle burnt so hot and long that if it was not for the rims you might not even of know it was a vehicle.” <a href="https://t.co/2cX6TEX6y0">pic.twitter.com/2cX6TEX6y0</a>
&mdash; Geoff Rushton (@GeoffRushton) <a href="https://twitter.com/GeoffRushton/status/1592694527109865473?ref_src=twsrc%5Etfw">November 16, 2022</a></blockquote>
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The Columbia Volunteer Fire Company was dispatched to assist the Morris Township Volunteer Fire Company #1 and Grassflat Volunteer Fire Company with trying to put out the fire.
The Columbia Volunteer Fire Company said that a considerable amount of water is needed even after the fire is put out to keep the batteries cool so they do not reignite.
Teslas have had myriad problems over the years ranging from <a href="https://www.businessinsider.com/tesla-faulty-battery-cooling-systems-design-model-s-2012-2019-6" target="_blank" rel="noopener">knowingly selling cars</a> that had a design flaw that could cause the cars to erupt in flames to <a href="https://www.businessinsider.com/tesla-elon-musk-orders-engineers-to-stop-brake-and-roll-testing-2018-6" target="_blank" rel="noopener">cutting corners</a> to ensure that vehicles had safe braking systems, Business Insider reported. Teslas have also been <a href="https://www.businessinsider.com/aladdin-stars-problem-with-tesla-known-as-whompy-wheels-2019-6?op=1" target="_blank" rel="noopener">accused</a> of having &#8220;faulty suspension&#8221; that can cause accidents.
While Teslas are insanely fast and the car&#8217;s instantaneous torque make it fun to drive, some have had problems with the car&#8217;s <a href="https://www.youtube.com/watch?v=HJ1tofzX6Bk" target="_blank" rel="noopener">not working</a> properly, <a href="https://www.dailydot.com/debug/teslas-poor-build-quality/" target="_blank" rel="noopener">quality issues</a>, and awkward driving controls, like <a href="https://youtu.be/vEzgFZIMzZc?t=240" target="_blank" rel="noopener">having to use a computer screen</a> in the middle of the car to activate windshield wipers.
After Hurricane Ian hit Florida earlier this fall, numerous Teslas and other electric vehicles began spontaneously exploding because the salt in the seawater damages the batteries in such a way where they can erupt in flames, according to FEMA.
&#8220;In the following weeks, at least 12 EV fires were reported in Collier and Lee Counties,&#8221; FEMA <a href="https://www.usfa.fema.gov/blog/ig-102022.html" target="_blank" rel="noopener">said</a>. &#8220;One on Sanibel Island burned 2 houses to the ground.&#8221;

Tesla Explodes Into Flames On Pennsylvania Highway, Requires 24X More Water To Extinguish Than Gas Car

Fire

General

Twitter CEO Elon Musk, testifying at his Tesla compensation trial in Delaware, told the court that he plans to find someone else to run Twitter, according to a new report.
Musk also reportedly said that the fundamental restructuring of Twitter will be complete at the end of this week, and that the Tesla engineers whom he had asked to review code at Twitter worked on a voluntary basis.
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Defense asks Musk about Twitter: He says he plans to find someone else to run it. As for those Tesla engineers &quot;reviewing code&quot;, they were there on a voluntary basis after hours, Musk says.
&mdash; Becky Peterson (@beckpeterson) <a href="https://twitter.com/beckpeterson/status/1592914835716870144?ref_src=twsrc%5Etfw">November 16, 2022</a></blockquote>
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&nbsp;
The trial is examining Tesla&#8217;s 2018 compensation plan for the billionaire. The plan awarded Musk shares of the company, which would be valued more as Tesla stock rose. The year before Musk’s compensation plan was awarded, Tesla had lost nearly $2 billion.
“The compensation plan included 12 batches of stock that Musk would receive if milestones were hit, including the market capitalization of Tesla as well as its revenue and adjusted earnings,” CNN reported, noting that each batch would be earned if the company’s  market capitalization rose an extra $50 billion over $100 billion.
The company issued a <a href="https://www.sec.gov/Archives/edgar/data/1318605/000119312518035345/d524719ddef14a.htm" target="_blank" rel="noopener">statement to stockholders</a> in which they explained why they were awarding the compensation plan to Musk.
&#8220;As Tesla continues to grow, we have created a new 10-year performance award for Elon that incentivizes him to not only continue to lead Tesla over the long-term, but to help the company achieve these great goals. You will find more details about the proposed award in the following pages, but the basic premise is simple — Elon’s compensation will be 100% aligned with the interests of our stockholders,&#8221; a statement from the company said.
&#8220;Elon will receive no guaranteed compensation of any kind — no salary, no cash bonuses, and no equity that vests by the passage of time. Instead, Elon’s only compensation will be a 100% at-risk performance award, which ensures that he will be compensated only if Tesla and all of our stockholders do extraordinarily well,&#8221; it continued. &#8220;The award consists of stock options that vest only if Tesla achieves specific milestones, which if fully achieved would make Tesla one of the most valuable companies in the world with a market capitalization of at least $650 billion — more than 10x today’s value.
In 2020, Tesla shares skyrocketed an astonishing 743% as the best performing U.S. stock and it became the company became the most valuable automaker on Earth. Musk received no pay that year; the stock options he received were estimated at a value of $22 billion.
“Four of Musk’s stock tranches vested during the course of 2020, giving him the right to buy 33.8 million shares at an exercise price of $2.4 billion,” CNN <a href="https://www.cnn.com/2021/08/14/business/elon-musk-pay/index.html" target="_blank" rel="noopener">reported</a> in August 2021. “As of Friday’s close, those stocks were worth $21.9 billion.”

Elon Musk Says He’ll Find Someone Else To Run Twitter: Report

Elon Musk Says He'll Find Someone Else To Run Twitter: Report

<a href="http://dailywire.com/topic/elon-musk" target="_blank" rel="noopener">Elon Musk</a> is the chief executive of <a href="http://dailywire.com/topic/tesla" target="_blank" rel="noopener">Tesla</a> and <a href="http://dailywire.com/topic/spacex" target="_blank" rel="noopener">SpaceX</a>, as well as the leader of several smaller pet projects, such as Neuralink and The Boring Company. Following his acquisition of <a href="http://dailywire.com/topic/twitter" target="_blank" rel="noopener">Twitter</a>, one of the world’s largest social media platforms, the multibillionaire gave the world a view into just how busy his schedule can be.
“You know, my workload has recently increased quite a lot,” Musk said during a virtual <a href="https://www.reuters.com/technology/elon-musk-says-i-have-too-much-work-my-plate-2022-11-14/" target="_blank" rel="noopener">interview</a> at the B20 summit in Indonesia. “I mean, I have too much work on my plate, that is for sure. No doubt about it.”
When asked about business leaders who want to become the “Elon Musk of the East,” the world’s richest man commented that his lifestyle is not necessarily one to be desired. &#8220;I&#8217;d be careful what you wish for. I&#8217;m not sure how many people would actually like to be me,” he said. “They would like to be what they imagine being me, which is not the same thing as actually being me. The amount that I torture myself is next level, frankly.&#8221;
Four years ago, Musk said during an <a href="https://www.cnbc.com/2018/11/05/elon-musk-on-working-120-hours-a-week-youll-go-bonkers.html" target="_blank" rel="noopener">interview</a> with Recode that he has worked 120 hours per week, although he finds working 80 hours per week “pretty sustainable.” According to a Harvard Business Review study, the average chief executive works 62.5 hours per week.
“There were times when, some weeks &#8230; I haven’t counted exactly, but I would just sort of sleep for a few hours, work, sleep for a few hours, work, seven days a week. Some of those days must have been 120 hours or something nutty,” he explained. “The pain level for hours increases exponentially. It’s like nonlinear above 80.”
Musk is presently worth $189 billion, according to an <a href="https://www.bloomberg.com/billionaires/profiles/elon-r-musk/#xj4y7vzkg" target="_blank" rel="noopener">estimate</a> from Bloomberg Billionaires Index. A South African by birth, Musk moved to Canada as a teenager and graduated from the University of Pennsylvania with degrees in economics and physics. Among his first ventures was Zip2, a company that provided city guide software to newspapers, and online bank X.com, which later merged with another startup to become PayPal.
Musk founded SpaceX, which manufactures and launches reusable rockets, in 2002, and became an early investor in electric vehicle maker Tesla two years later. The latter company has a market capitalization of $594 billion, constituting the seventh-largest company in the world.
The entrepreneur acquired Twitter last month for $44 billion after initiating the purchase earlier this year. He released a <a href="https://www.dailywire.com/news/read-it-elon-musk-explains-why-he-bought-twitter" target="_blank" rel="noopener">statement</a> explaining that the deal was motivated by a desire to foster an open dialogue and free expression. “The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” he said. “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.”
Beyond his business ventures, Musk began what appears to be a political epiphany during the government lockdowns that gripped the nation two years ago. He said he grew increasingly frustrated as California officials prevented a major Tesla factory from reopening, prompting the entrepreneur to <a href="https://www.dailywire.com/news/elon-musk-says-tesla-moving-headquarters-from-california-to-texas" target="_blank" rel="noopener">move</a> the company’s headquarters to Texas. He <a href="https://www.dailywire.com/news/elon-musk-take-the-red-pill" target="_blank" rel="noopener">encouraged</a> other Americans to “take the red pill” and <a href="https://twitter.com/elonmusk/status/1287818109651431427?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1287818109651431427%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.dailywire.com%2Fnews%2Felon-musk-announces-hes-switching-to-vote-republican" target="_blank" rel="noopener">noticed</a> that leftists were “losing the middle” of the political spectrum. Ahead of the most recent midterm elections, he <a href="https://www.dailywire.com/news/breaking-elon-musk-issues-blanket-endorsement-of-gop-in-house-senate-races-cites-benefits-of-shared-power" target="_blank" rel="noopener">cited</a> the benefits of a divided government while urging his fellow citizens to vote for Republican candidates.

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