Musk now worth more than ExxonMobil after $36.2 bn single-day gain

Eclipsing the value of an old-economy bellwether like Exxon may seem like an inevitable milestone in Musk’s trajectory

It’s just one more arresting data point amid a flurry of superlatives, but Elon Musk’s soaring net worth now makes him more valuable than Exxon Mobil. The wealth of the world’s richest person jumped to $288.6 billion Monday, according to the Bloomberg Billionaires Index. The $36.2 billion gain followed a surge in Tesla Inc.’s stock price after Hertz Global Holdings Inc ordered 100,000 cars.

Eclipsing the value of an old-economy bellwether like Exxon may seem like an inevitable milestone in Musk’s trajectory. But the oil company’s own share price has been no laggard this year. Despite being overtaken by Musk at the start of 2021, Exxon has been on a tear since then. It outpaced the Tesla chief executive this year as oil and natural gas prices advanced. Still, that fossil-fuel rally, should it continue, may help spur even more sales of EVs.

$1 trillion valuation belies revenue position

Even Musk expressed surprise at the velocity of the surge. “Strange that moved valuation, as Tesla is very much a production ramp problem, not a demand problem,” Musk tweeted in reply to a comment by Ross Gerber, co-founder of the investment fund Gerber Kawasaki and a Tesla shareholder. “Wild $T1mes!” Musk wrote in a separate tweet.

Comments

Best Unconventional Workout and Sporting Activities for Summer

In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Summer is the season of holidays, picnics, outings and beaches. With travel and binge eating proper workout becomes that much more essential in summers. But with heat and the sun outdoors, an individual has to balance his indoor and outdoor activities to get a fulfilling workout. In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Mentioned below are some of the best physical and sporting activities that one can use as a workout to stay fit in the summer season. Beach Sports - If in summers one is going to spend much time on beaches or at a beach destination then one may use beach sporting activities such as beach rugby, beach soccer, beach tennis and beach volleyball to stay fit. All of these sporting activities on sand provide a ...

Crypto exchange Binance temporarily suspends payments from EU's key network

Cryptocurrency exchange Binance will temporarily suspend euro bank deposits from one of Europe’s key payments networks, it said in an email sent to users (Reuters) -Cryptocurrency exchange Binance will temporarily suspend euro bank deposits from one of Europe’s key payments networks, it said in an email sent to users on Tuesday. The email said that from 8 a.m. universal coordinated time on Wednesday, customers would no longer be able to deposit funds through the Single Euro Payments Area, or SEPA, schemes. The move was due to “events beyond our control”, the exchange said in the email. “Any deposits attempted via SEPA in the meantime will be returned within 7 working days. SEPA withdrawals are unaffected by this suspension”, Binance said. The development was reported earlier by the Financial Times. The network, which is a European Union project that aims to harmonise euro payments across the region, allows consumers to send euros across three dozen countries. Binance typically ac...

‘Farmers will get justice’, says member of SC panel on farm laws Ghanwat

Included in the four-member committee set-up by the Supreme Court to hold talks with the farmers agitating over the new farm laws, Anil Ghanwat said that “protesting farmers will get justice” Included in the four-member committee set-up by the Supreme Court to hold talks with the farmers agitating over the new farm laws, Anil Ghanwat on Tuesday said that “protesting farmers will get justice.” The Supreme Court on January 12 stayed the implementation of three farm laws and tasked the committee of experts to listen to grievances of the farmers on the farm laws and the views of the government and submit its report to the court within two months. Anil Ghanwat, president of the Shetkari Sanghatana, a Maharashtra-based farmer organisation told ANI, “This movement should stop somewhere and a law should be made in the interest of farmers. First we need to listen to farmers, if they had some misconception about Minimum Support Price (MSP) and Agricultural Produce Market Commit...

Budget 2018-19

Search This Blog