tl;dr
In a stunning shift of fortunes, Tesla CEO Elon Musk has been ousted as the world's wealthiest person by Amazon founder Jeff Bezos. This comes in the wake of a 7.2% slide in Tesla's shares, attributed to a drop in shipments from its Shanghai factory coinciding with the Chinese New Year holiday. The ...
In a stunning shift of fortunes, Tesla CEO Elon Musk has been ousted as the world's wealthiest person by Amazon founder Jeff Bezos. This comes in the wake of a 7.2% slide in Tesla's shares, attributed to a drop in shipments from its Shanghai factory coinciding with the Chinese New Year holiday. The current turbulence for Tesla, which also faces intense competition in the electric vehicle market, stands in stark contrast to Amazon's consistent sales growth and impressive $1.85 trillion market capitalization. While Musk's net worth now hovers at $198 billion, Bezos has surpassed him with a $200 billion fortune, marking his return to the top of the Bloomberg Billionaires Index for the first time since 2021.
Despite being part of the Magnificent Seven stocks that have driven record market averages in the U.S., Tesla shares have dipped by 2.9% over the past year, while Amazon's have skyrocketed by 89.4%. Bezos' significant sale of $8.5 billion worth of Amazon shares in 2022 has not deterred the company's momentum, as he remains the largest shareholder with a 9.6% stake. On the other hand, Musk's fortune faces further volatility, given a recent voiding of his $55 billion pay package, a decision made by a Delaware judge after a shareholder contested its approval. This compensation package represents a substantial portion of Musk's assets, as he holds a roughly 20% stake in Tesla. The changing financial landscape for these tycoons provides a compelling contrast between success and struggle within the global business landscape.
More about Tesla Inc
Tesla, Inc. is an American electric vehicle and clean energy company with a diverse product portfolio including electric cars, battery energy storage, and solar products. In 2020, Tesla captured a significant market share in both the plug-in and battery-electric car segments, demonstrating strong sales performance. The company is also a major player in solar energy generation and battery storage systems. The stock performance shows a market capitalization of $645.37 billion, with a current stock price of $47.15. Key financial metrics include a revenue of $96.77 billion and a net income of $190.03 million. Market sentiment towards Tesla is influenced by its innovative products and strong market position, although potential risks and uncertainties should be considered given the volatile nature of the stock market and the company's rapid growth.
More about Amazon.com Inc
Amazon.com Inc is a major player in the retail-catalog and mail-order industry, with a market cap of $1,851,857,568,000. The stock has a price-to-earnings ratio of 61.45 and a dividend yield of 2.89. The stock has shown a 52-week high of $3,552.25 and a 52-week low of $2,256.38. Currently, the stock is trading at $2,978.55. With a relative strength index (RSI) of 55.78, the stock is indicating a neutral sentiment. The company's market capitalization of $574,784,995,000 and a beta of 0.139 suggest a moderate risk associated with the stock. Overall, the company's stock performance and market sentiment appear to be stable, with potential risks associated with market volatility and industry competition.
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