With a stake of just under 13 percent, Elon Musk is the largest single shareholder in the car brand. But Tesla is no longer his most valuable asset.
Tesla has lost so much value that the car brand is no longer the most expensive thing Elon Musk owns. At least not on paper.
This is what The Guardian writes.
Tesla's share value has plummeted so much since December 17th of last year that Space X shares, of which Elon Musk also holds a large stake, are now worth more.
It's the first time in five years that space adventure has overtaken cars here on Earth. Or maybe you should say asphalt?
Right now, Elon Musk's stake in Tesla is worth about $127 billion. Granted, that's a lot of money. But SpaceX, by comparison, is worth a whopping $147 billion.
Space travel is worth more than Tesla for the first time in 5 years
While Tesla's value is in free fall, Musk is doing little – if anything – to reassure other investors that he has a plan for the car brand.
In fact, the billionaire admitted as recently as last week that he is having "great difficulty" juggling his work cleaning up the public sector of the United States and his commitments to Tesla, SpaceX, and Twitter/X.
Despite this admission, Musk is still preparing to go to court to assert his right to the $56 billion pay package that Tesla's board has already approved.
Elon Musk's difficulties in finding time to complete all the tasks, on the other hand, have already caused the first of the other Tesla shareholders to christen him.
In an interview with Sky News, Ross Gerber, who owns Tesla shares worth almost 1 billion Danish kroner, says that Musk should step down.
– It's time for someone to actually run Tesla. The business has been neglected for far too long. The company's reputation has been completely destroyed by Elon Musk.
"Sales are plummeting, so yes, it's a crisis. You simply can't sell the best product on the market because the CEO is so divisive," says Ross Gerber.
