The owner of Texas-based Tesla Inc. has also fallen from his perch as world’s richest...
, overtaken by Bernard Arnault, fashion house Louis Vitton’s founder and CEO.Elon Musk is no longer the richest person in the world. Here’s where he ranks among Texans.
Tesla’s stock dropped 68 percent in 2021, and the company last week reported vehicle deliveries that disappointed Wall Street. The company has struggled to increase output at its Gigafactory Texas near Austin and other EV plants. In total, he sold nearly $23 billion of Tesla stock last year, with much of the money likely going to help fund his acquisition of Twitter, according to regulatory filings.
“Despite the plunge in prosperity, Tesla remains the most valuable car company in the world, with a market cap over $100 billion larger than their closest competitor, Toyota,” it said.Tesla to spend $775 million expanding its Gigafactory Texas electric vehicle plant near Austin
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