Budget 2018-19

  Musk said during a conference call in January that he that he expects to be the CEO of Tesla for ‘several years’. Tesla Inc Chief Executive Officer  Elon Musk  is “thinking of” leaving his jobs and becoming an influencer, the world’s richest man tweeted on Thursday. “thinking of quitting my jobs & becoming an influencer full-time wdyt,” Musk said in the tweet, without elaborating. It was not immediately clear if Musk, a prolific user of the social media platform, was being serious about quitting his roles. Musk, who is also the founder and CEO of rocket company SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company, said during a conference call in January that he expects to be the CEO of  Tesla  for “several years”.

  Company is struggling to procure a raw material only available in China, for a battery cell that it’s trying to develop in-house. Tesla Inc. so far has managed to deftly navigate the supply chain crisis and  U.S.–China trade tensions  that have hamstrung manufacturers globally. The EV maker’s latest worries show it’s about to get tougher for companies that hoped the worst was behind them. Joining a host of other auto suppliers looking for tariff exclusions on various parts,  Elon Musk ’s company submitted three comments to the U.S. Trade Representative supporting waivers on essential raw materials it needs to import from China. In them, Tesla says “natural graphite is currently not available in the specifications nor capacity outside of its current suppliers and China that is required” for it to manufacture EV batteries in the U.S. Tesla is requesting waivers on various forms of artificial and natural graphite. That’s a stark reversal of fortunes. Over the past few...

  Tesla shares have rebounded 9.4% after initially slumping following Musk’s Twitter poll. After a few days’ break,  Elon Musk  resumed selling shares in Tesla Inc., now coming more than halfway to making good on his promise to offload 10% of his stake in the electric-car maker. The billionaire sold an additional 934,091 shares for $1.05 billion, according to regulatory filings late on Tuesday U.S. time. He also exercised 2.15 million stock options, and the sales were made to cover the taxes related to that transaction, the documents showed. With the most recent disposals, Musk now has offloaded 9.2 million shares and collected about $9.9 billion of proceeds since he conducted a Twitter poll asking whether he should sell 10% of his  Tesla  stake. A chunk of that money will go to taxes. To reach the 10% threshold, Musk would need to sell some 17 million shares, or about 1.7% of the company’s outstanding stock. If his exercisable options are factored into his over...

  The combined net worth of Elon Musk and Jeff Bezos approached $500 billion on Wednesday The combined net worth of  Elon Musk  and Jeff Bezos approached $500 billion on Wednesday, fueled by the unrelenting rally in Tesla Inc. shares and a broad surge in tech stocks that sent the Nasdaq 100 to an intraday record. The value of the two fortunes — a sum bigger than the market value of Johnson & Johnson and about equal to that of America’s biggest bank, JPMorgan Chase & Co. — is yet another watershed moment in what’s shaping up to be a historic week for billionaires. A groundbreaking proposal from Senate Finance Chair Ron Wyden to tax billionaires on unrealized gains was released in detailed form Wednesday morning only to be dropped in negotiations hours later. Wyden insists the billionaires’ tax plan isn’t dead, but talks have instead moved on to a possible 3% surcharge — on top of the highest income tax rate — for those earning more than $10 million. The combined ne...

  Musk has been a major promoter of cryptocurrencies but has turned critical of bitcoin. Bitcoin slipped more than 3% on Friday after Tesla boss Elon Musk fired off a tweet hinting at a breakup with the cryptocurrency, though it remains on course for its best weekly gain in about a month as it tries to recover from May’s crash. Bitcoin was last down about 3.6% at $37,809. Musk tweeted “#Bitcoin” and a heartbreak emoji above a meme appearing to show a couple discussing their breakup.  Bitcoin   is up 6.3% this week. Musk has been a major promoter of cryptocurrencies but has turned critical of bitcoin since suspending Tesla plans to take it in payment for cars owing to concerns about its energy use.

  Activity in Bitcoin futures suggests traders don’t see a sudden end to the crypto rally, with spreads continuing to widen between the active contract and March futuresActivity in Bitcoin futures suggests traders don’t see a sudden end to the crypto rally, with spreads continuing to widen between the active contract and March futures Bitcoin’s incredible rally shows little sign of abating yet after the token jumped past $51,000 for the first time. The largest cryptocurrency rose almost 6% Wednesday to about $51,431 after a fivefold surge in the past year, according to a composite of prices compiled by Bloomberg. The Bloomberg Galaxy Crypto Index reached a record. Bitcoin’s rally for some is emblematic of speculative froth in financial markets awash with stimulus. The crypto faithful counter that the digital asset is grabbing more mainstream attention, especially after Tesla Inc.’s recent $1.5 billion purchase. MicroStrategy Inc. said Tuesday it would sell $600 million of convertib...

  The price of Bitcoin soared 15.4 per cent to around $44,500 Monday in reaction to Tesla”s announcement, according to CoinBase Holders of Bitcoin may be able to cash in some of their investment in the digital currency for a brand new electric car. Electric automaker Tesla said Monday that it has invested around USD 1.5 billion in Bitcoin and it plans to begin accepting the digital currency as payment for its high-end vehicles soon. The price of Bitcoin soared 15.4 per cent to around USD 44,500 Monday in reaction to Tesla’s announcement, according to CoinBase. The California-based electric car maker headed by  Elon Musk  revealed the new strategy in a filing with the US Securities and Exchange Commission, saying its investment in digital currency and other alternative reserve assets may grow. Bitcoin has drawn enthusiasts for its scarcity and security, but the volatile digital currency still is not widely used to pay for goods and services. It’s mostly been a store of val...

  If Tesla were to accept bitcoin payments the way some other major companies have, customers would transfer bitcoins from their “digital wallets” to another entity that converts them into, say, dollars Tesla Inc expects to allow customers to pay for its electric vehicles with bitcoin soon, the automaker said on Monday, a move that could expand how the most popular cryptocurrency is used for real-world transactions. Although bitcoin has become more of a household name in recent years, it is still mostly used as an investment product rather than a form of payment. A handful of mainstream brands have allowed customers to make purchases with bitcoin through third-party processors, but  Tesla  suggested it might accept bitcoin directly as part of a broader plan to incorporate the cryptocurrency into its investment portfolio. The company made the disclosures in a section of its quarterly securities filing that also detailed its purchase of $1.5 billion worth of bitcoin. If cus...

  Elon Musk asked about the possibility of converting “large transactions” of Tesla’s balance sheet into bitcoin, according to a Twitter exchange between him and an advocate for the digital currency (Reuters) – Elon Musk on Sunday asked about the possibility of converting “large transactions” of Tesla Inc’s balance sheet into bitcoin, according to a Twitter exchange between Musk and a well-known advocate for the digital currency. Michael Saylor, chief executive officer of MicroStrategy Inc, in a tweet to Musk, suggested that the billionaire Tesla founder and head, make the move.”If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC,” Saylor wrote in his tweet. “Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.” “Are such large transactions even possible?” Musk replied to Saylor. “Yes. I have purchased over $1.3 billion in #BTC in past months & would be happy to sh...