Tesla turns around luxuriantly, Musks wealth increases nearly 6 billion dollars in three months

 Tesla turns around luxuriantly, Musks wealth increases nearly 6 billion dollars in three months

Just into 2020, musk has a net worth of $28.5 billion, according to Bloomberg. This means that his personal wealth has increased by nearly $6 billion in the past three months, making him the 20th richest man in the United States.

Tesla, which released its latest results on Friday, reported a record 112000 electric vehicles delivered in the fourth quarter of this year, mainly benefiting from the popular model 3 electric vehicles. In 2019, the company delivered 367000 electric vehicles, exceeding the lower limit of the previous forecast range.

At the beginning of last year, Tesla was in trouble, causing its share price to fall by more than a third in the first half of 2019.

In the past six months, however, Teslas share price has risen more than the Nasdaq 100s over the same period. The companys market value soared $38 billion to nearly $80 billion. This increase makes Teslas market value much higher than that of GM and Ford.

According to documents submitted to regulators by Tesla, musk owns about 20% of Tesla and is the single largest shareholder of the company. About $14.5 billion of his net worth comes from SpaceX, another company he owns.

In the process of Teslas share price soaring, Musks long-term struggle with short sellers may have played a role. Tesla is still a heavily short stock, with more than 19% of outstanding shares held by short sellers (compared with about 1% of Apples shares held by short sellers). When Teslas share price rises, short sellers sometimes make up short positions to avoid losses, thus further boosting its share price.

Teslas current share price is more than $420. In a tweet released by musk in 2018, he mentioned that Teslas share price may reach this level, and proposed to privatize the company. The tweet sparked fraud charges by the securities and Exchange Commission, and musk settled the dispute in a settlement. He also resigned as chairman of Tesla as part of the settlement.

Meanwhile, Teslas current share price is far higher than the average target price for the next 12 months given by Wall Street analysts. Last week, investment bank canaccord genuity raised Teslas target share price from $375 to $515, up more than $100.

Looking forward, 2020 will be another year when Teslas demand will reach a record. According to Bloomberg, analysts expect Tesla to deliver 463000 electric vehicles this year, which means an annual growth rate of more than 25%.

(Liu Chun)

Source: Wang Fengzhi, editor in charge of Netease Technology Report