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Elon Musk net worth recovers $10.6 billion in two days amid TSLA recovery

Credit: TED/YouTube

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Being Tesla’s largest shareholder, Elon Musk saw his net worth get battered and bruised last year as TSLA shares lost 65% of their value. So notable was the drop in Musk’s net worth that the Guinness World Records actually noted that the Tesla CEO had set the record for the largest loss of personal fortune in history

Yet as per data from the Bloomberg Billionaires Index, Musk’s net worth has grown by about $10.6 billion since he took the stand in court on Friday. Thanks to this, Musk’s net worth has bounced back to $145 billion, allowing him to close the gap with Bernard Arnault, the chairman of LVMH Moet Hennessy Louis Vuitton, who took over Musk’s place as the world’s wealthiest person last December. 

Interestingly enough, Musk’s net worth has rebounded as of late. This is not unlike the net worth of the majority of the world’s richest 500 individuals, which have also seen some recovery after a challenging 2022. 

While Musk appears to generally not care much about his net worth, the CEO’s recovering fortune bodes well for the momentum of electric vehicle maker Tesla. Musk, after all, is Tesla’s largest shareholder, and thus, his net worth is heavily entwined with the EV company. Tesla’s 65% drop last year, for example, was partly pushed by Musk’s decision to offload some of his TSLA shares to help him acquire and run Twitter. 

Regardless of whether he is the world’s richest man or not, Musk tends to attract a lot of attention. Just recently, Musk took the stand in a securities fraud lawsuit over a tweet he posted in August 2018, which claimed that he had funding secured to take Tesla private at $420 per share pre-split. Tesla shares rose as much as 13.3% following Musk’s “funding secured” tweet.

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As noted in a Bloomberg News report, Musk stated that he did not hold enough shares to take Tesla private at the time, and thus, he needed help completing the deal. Musk would eventually walk away from a take-private deal for Tesla, but not before TSLA shares experienced a lot of volatility in the market. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla posts Semi factory update, shares new Semi logo design

As per Priestley, there are a lot of exciting things coming to the Semi factory and the Tesla Semi itself.

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Credit: Tesla Semi/X

Tesla has posted an update video on the construction of its Semi factory near Giga Nevada. 

The electric vehicle maker also shared the new logo of its Class 8 all-electric truck, which is pretty slick and classic Tesla at the same time.

Semi Factory Update

In the video, Tesla Semi program lead Dan Priestley stated that the last few months were spent building the factory shell of the facility, from its walls to its columns to its concrete floors. With the Semi factory shell completed, it is now time to equip the facility with the necessary equipment that would allow it to mass produce the Tesla Semi. The Tesla executive also shared the facility’s target output.

“This factory is designed with an annual capacity of 50,000 units a year. So over the next several quarters, we’re going to be industrializing the factory, installing the equipment, and preparing for high volume production. First units are set to be on the line by the end of this year, and we’ll be ramping the factory through 2026,” Priestley stated in the video. 

The Tesla Semi is arguably Tesla’s most underrated product, with the vehicle operating in real-world fleets over the past years. As per Priestley, there are a lot of exciting things coming to the Semi factory and the Semi itself. These things, the Tesla executive noted, would prove that electric trucking is ready to scale.

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New Tesla Semi Logo

The end of the Tesla Semi factory update video featured a logo for the vehicle that had not been shared by Tesla before. Similar to the Cybertruck, it appears that Tesla will be giving the Semi its own stylized logo. Unlike the Cybertruck’s graffiti print, however, the Class 8 all-electric truck’s logo features the word “Semi” written in a futuristic, thin font. Interestingly enough, the “E” in the word “Semi” was written with three horizontal lines, similar to the Tesla Model 3’s original logo.

Below is the Tesla Semi’s new logo.

Credit: Tesla Semi/X

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Berlin Senator calls Tesla “Nazi” cars, pisses off Brandenburg because Giga Berlin is a giant employer

Kiziltepe’s comment garnered so much negative attention that she ended up deleting her post.

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Credit: Cansel Kiziltepe/X

It is no secret that Elon Musk is a lightning rod for controversy today, especially with his work with the Trump administration’s Department of Government Efficiency (DOGE). But as could be seen in Germany’s reactions to a Berlin Senator’s post on X, you can criticize the man, but you do not go for the thousands of people that Tesla employs.

Strike Against Tesla

As noted in an rbb24 report, Berlin’s Labor Senator Cansel Kiziltepe (SPD) ended up pissing off a lot of people, especially in Brandenburg, after she dubbed Teslas “Nazi” cars on social media platform X. In her post, Kiziltepe wrote, “Who wants to drive a Nazi car?” She also shared a news article that highlighted Tesla’s decline in Germany in the first quarter, titled “Electric Car Manufacturers Experience Sales Boom—Apart from Tesla.”

Kiziltepe’s Tesla comment garnered so much negative attention that she ended up deleting her post. She did, however, share a follow-up which explained that her sentiments against CEO Elon Musk do not extend to the thousands that Tesla employs, especially in Germany. 

“Tesla is currently experiencing a sales slump because customers attribute the right-wing extremist positions of its shareholder Elon Musk, who holds around 13% of the company. I explicitly stand by my assessment of Elon Musk. Of course, this does not mean that I hold Musk’s employees or customers responsible for his political positions,” the senator wrote in her post on X.

Brandenburg Backlash

A lot of the anger that resulted from Kiziltepe’s post came from other officials, such as Brandenburg’s Minister of Economic Affairs and SPD party colleague Daniel Keller. The official’s sentiments are understandable considering that Tesla Gigafactory Berlin is the largest employer in the region, providing jobs to thousands of people in the area. 

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“Such a Nazi comparison hurts the people who work there and is completely inappropriate for a labor senator. I expect the labor senator to retract her historically unacceptable comparison and return objectively to the major economic and labor market policy challenges that Berlin and Brandenburg should tackle together.

“Everyone can have their own personal opinion about Elon Musk. But it’s important to me that we don’t forget the people behind the Tesla factory in Grünheide. 11,000 people from 150 nations work here – more than half of the employees live in Berlin… Brandenburg and Berlin benefit from this in terms of employment and value creation,” Keller noted, highlighting that Giga Berlin provides well-paying, permanent jobs.

Equally Pissed Off

In a comment to the BZ newspaper, Brandenburg’s Minister-President Dietmar Woidke (SPD) stated that Kiziltepe’s comments were out of place, because in addition to the numerous Berliners who work at Giga Berlin, people from about 150 nations also work at the plant. Berlin CDU parliamentary group leader Dirk Stettner was more direct, stating that the Berlin Senator’s post was a “dangerous relativization of Nazi terror and thus also of the Holocaust.” 

The Berlin-Brandenburg Business Association (UVB) shared their frustrations with the senator as well, with General Manager Alexander Schirp stating that Kiziltepe’s comments were unbecoming of someone who sits at the Berlin Senate. Schirp also stated that the comments were an affront to Tesla employees. “This will not increase the manufacturer’s chances of investing in the capital. Statements of this magnitude do not bode well for the election campaign,” Keller stated.

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Tesla Sweden defies unions again by opening yet another Supercharger

The site features 12 Superchrger V4 stalls that are ready to provide up to 250 kW to electric vehicles.

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Tesla Sweden’s issues with the country’s unions are not over yet, but the electric vehicle maker seems determined to support all EV drivers in the country anyway. As per industry watchers, Tesla Sweden recently opened yet another Supercharger, this time in the Municipality of Ödeshög. 

The new Supercharger benefits not just Tesla owners since it offers rapid charging services to other EV brands as well.

New V4 Tesla Supercharger

As per Tesla watcher @NicklasNilsso14, who has long been following the activities of the electric vehicle maker in Sweden, the newly opened Supercharger is located at Östgötaporten in Ödeshög. The site features 12 Superchrger V4 stalls that are ready to provide up to 250 kW to electric vehicles. Its location is good, too, as it was built near the E4 highway exit, making it close to amenities in the area.

The fact that the Supercharger serves not just Teslas but also electric vehicles from other brands will likely be appreciated by drivers in Sweden. Tesla Superchargers, after all, are among the most reliable and convenient rapid charging systems in the country.

Anti-Supercharger Union Efforts

Amidst Tesla’s conflict with IF Metall, other unions in the country have rolled out sympathy measures in an attempt to cripple the company’s operations. Two of the most notable are the Elektrikerna union and Seko, both of which have initiated efforts to block the launch of new Superchargers.

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Unfortunately for the unions, Tesla is a very stubborn company, and it is also creative. Tesla also does not hesitate to use its resources to get around the measures being implemented by the unions. Earlier this month, for example, two new Supercharger sites were opened in the city of Södertälje. 

The new Södertälje Superchargers upset the unions, with a press officer for the Elektrikerna union stating that Tesla seems to be flying in people to help launch its Superchargers. “It is a good question how this has happened. We think it is unfortunate. But they seem to have their methods. They bring in foreign companies and fly in people, we think,” Bello noted then.

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